Sumitomo Life Insurance Co. Sells 591 Shares of Ingersoll Rand Inc. (NYSE:IR)

Sumitomo Life Insurance Co. lessened its holdings in Ingersoll Rand Inc. (NYSE:IR) by 2.5% during the 4th quarter, HoldingsChannel reports. The firm owned 23,400 shares of the industrial products company’s stock after selling 591 shares during the period. Sumitomo Life Insurance Co.’s holdings in Ingersoll Rand were worth $2,117,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Ashton Thomas Securities LLC bought a new position in Ingersoll Rand during the third quarter valued at $34,000. Eastern Bank bought a new stake in shares of Ingersoll Rand in the 3rd quarter worth about $42,000. UMB Bank n.a. grew its holdings in Ingersoll Rand by 27.0% during the 4th quarter. UMB Bank n.a. now owns 598 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 127 shares during the last quarter. Kimelman & Baird LLC bought a new position in Ingersoll Rand during the 2nd quarter valued at about $57,000. Finally, Versant Capital Management Inc raised its position in Ingersoll Rand by 654.4% in the 4th quarter. Versant Capital Management Inc now owns 679 shares of the industrial products company’s stock worth $61,000 after purchasing an additional 589 shares during the period. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on IR. Barclays dropped their target price on Ingersoll Rand from $120.00 to $115.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Robert W. Baird cut their price objective on Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. The Goldman Sachs Group lifted their target price on Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Stifel Nicolaus cut their price target on shares of Ingersoll Rand from $107.00 to $100.00 and set a “hold” rating on the stock in a report on Friday, January 24th. Finally, UBS Group initiated coverage on shares of Ingersoll Rand in a report on Wednesday, November 13th. They set a “buy” rating and a $124.00 price objective for the company. 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 company presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.92.

Ingersoll Rand Trading Down 1.1 %

Shares of NYSE:IR opened at $90.88 on Wednesday. The company has a market capitalization of $36.63 billion, a PE ratio of 44.33, a P/E/G ratio of 3.73 and a beta of 1.44. The company has a current ratio of 2.36, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. Ingersoll Rand Inc. has a 12-month low of $79.04 and a 12-month high of $106.03. The business’s fifty day simple moving average is $96.13 and its 200-day simple moving average is $95.78.

Insiders Place Their Bets

In other Ingersoll Rand news, CAO Michael J. Scheske sold 2,531 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $97.44, for a total value of $246,620.64. Following the completion of the sale, the chief accounting officer now directly owns 11,910 shares in the company, valued at approximately $1,160,510.40. This trade represents a 17.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.68% of the stock is currently owned by corporate insiders.

Ingersoll Rand Company Profile

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.