Insigneo Advisory Services LLC Cuts Stock Position in Ingersoll Rand Inc. (NYSE:IR)

Insigneo Advisory Services LLC cut its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 4.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,548 shares of the industrial products company’s stock after selling 1,483 shares during the period. Insigneo Advisory Services LLC’s holdings in Ingersoll Rand were worth $3,489,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of IR. Ridgewood Investments LLC purchased a new stake in Ingersoll Rand during the second quarter worth about $25,000. Ashton Thomas Securities LLC purchased a new stake in shares of Ingersoll Rand during the third quarter worth approximately $34,000. UMB Bank n.a. increased its stake in shares of Ingersoll Rand by 196.8% during the second quarter. UMB Bank n.a. now owns 466 shares of the industrial products company’s stock worth $42,000 after buying an additional 309 shares during the period. Eastern Bank purchased a new stake in shares of Ingersoll Rand during the third quarter worth approximately $42,000. Finally, Rothschild Investment LLC purchased a new position in Ingersoll Rand in the second quarter valued at approximately $43,000. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Ingersoll Rand Stock Performance

NYSE:IR opened at $102.96 on Friday. The company has a quick ratio of 1.71, a current ratio of 2.36 and a debt-to-equity ratio of 0.46. Ingersoll Rand Inc. has a fifty-two week low of $71.21 and a fifty-two week high of $106.03. The firm’s fifty day simple moving average is $100.77 and its 200-day simple moving average is $95.46. The stock has a market cap of $41.49 billion, a PE ratio of 50.22, a price-to-earnings-growth ratio of 3.96 and a beta of 1.42.

Ingersoll Rand Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th were given a dividend of $0.02 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.08%. Ingersoll Rand’s payout ratio is 3.90%.

Insider Transactions at Ingersoll Rand

In related news, CAO Michael J. Scheske sold 2,531 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $97.44, for a total value of $246,620.64. Following the sale, the chief accounting officer now directly owns 11,910 shares of the company’s stock, valued at approximately $1,160,510.40. This represents a 17.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.68% of the company’s stock.

Wall Street Analysts Forecast Growth

IR has been the topic of a number of research analyst reports. Stifel Nicolaus cut Ingersoll Rand from a “buy” rating to a “hold” rating and cut their target price for the stock from $112.00 to $107.00 in a research report on Monday, November 18th. UBS Group initiated coverage on shares of Ingersoll Rand in a research note on Wednesday, November 13th. They issued a “buy” rating and a $124.00 price objective on the stock. Morgan Stanley initiated coverage on shares of Ingersoll Rand in a report on Friday, September 6th. They issued an “equal weight” rating and a $97.00 target price for the company. Robert W. Baird lowered their price target on Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. Finally, Barclays boosted their price target on Ingersoll Rand from $105.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $105.08.

About Ingersoll Rand

Ingersoll Rand Inc provides various mission-critical air, gas, liquid, and solid flow creation technologies services and solutions worldwide. It operates through two segments, Industrial Technologies and Services, and Precision and Science Technologies. The Industrial Technologies and Services segment designs, manufactures, markets, and services air and gas compression, vacuum, and blower products; fluid transfer equipment and loading systems; and power tools and lifting equipment, including associated aftermarket parts, consumables, air treatment equipment, controls, other accessories, and services under the under the Ingersoll Rand, Gardner Denver, Nash, CompAir, Elmo Rietschle brands, etc.