Blueshift Asset Management LLC Sells 1,308 Shares of Ingersoll Rand Inc. (NYSE:IR)

Blueshift Asset Management LLC trimmed its stake in Ingersoll Rand Inc. (NYSE:IR) by 27.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 3,402 shares of the industrial products company’s stock after selling 1,308 shares during the period. Blueshift Asset Management LLC’s holdings in Ingersoll Rand were worth $334,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Avestar Capital LLC increased its holdings in Ingersoll Rand by 11.2% during the 3rd quarter. Avestar Capital LLC now owns 3,278 shares of the industrial products company’s stock worth $322,000 after purchasing an additional 329 shares during the period. Brooklyn Investment Group bought a new stake in shares of Ingersoll Rand in the third quarter valued at about $166,000. FMR LLC lifted its stake in Ingersoll Rand by 10.5% in the third quarter. FMR LLC now owns 16,152,094 shares of the industrial products company’s stock worth $1,585,489,000 after acquiring an additional 1,538,056 shares during the period. Dai ichi Life Insurance Company Ltd increased its position in Ingersoll Rand by 4.7% during the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 21,005 shares of the industrial products company’s stock valued at $2,062,000 after purchasing an additional 946 shares during the period. Finally, DRW Securities LLC purchased a new stake in shares of Ingersoll Rand in the 3rd quarter worth approximately $543,000. 95.27% of the stock is currently owned by institutional investors.

Ingersoll Rand Stock Performance

IR opened at $104.05 on Friday. The firm has a 50 day moving average of $100.03 and a two-hundred day moving average of $95.03. The firm has a market capitalization of $41.93 billion, a PE ratio of 50.76, a P/E/G ratio of 4.00 and a beta of 1.42. 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 $69.46 and a 12-month high of $106.03.

Ingersoll Rand Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.08%. The ex-dividend date is Thursday, November 14th. Ingersoll Rand’s payout ratio is 3.90%.

Insiders Place Their Bets

In other news, CAO Michael J. Scheske sold 2,531 shares of the company’s 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 sale, the chief accounting officer now owns 11,910 shares in the company, valued at $1,160,510.40. This represents a 17.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.68% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on IR. Barclays upped their target price on Ingersoll Rand from $101.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Wells Fargo & Company raised their price target on shares of Ingersoll Rand from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Wolfe Research raised shares of Ingersoll Rand to a “hold” rating in a research report on Friday, September 20th. UBS Group started coverage on Ingersoll Rand in a research report on Wednesday, November 13th. They set a “buy” rating and a $124.00 price target on the stock. Finally, Stifel Nicolaus lowered Ingersoll Rand from a “buy” rating to a “hold” rating and reduced their target price for the company from $112.00 to $107.00 in a research report on Monday, November 18th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $103.83.

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.