Ingersoll Rand Inc. (NYSE:IR) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama trimmed its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 0.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 88,297 shares of the industrial products company’s stock after selling 696 shares during the quarter. Retirement Systems of Alabama’s holdings in Ingersoll Rand were worth $8,667,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Ridgewood Investments LLC purchased a new stake in shares of Ingersoll Rand during the second quarter worth approximately $25,000. Ashton Thomas Securities LLC acquired a new stake in Ingersoll Rand during the 3rd quarter worth $34,000. UMB Bank n.a. grew its holdings 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 in the last quarter. Eastern Bank acquired a new stake in shares of Ingersoll Rand in the third quarter valued at about $42,000. Finally, Rothschild Investment LLC acquired a new stake in shares of Ingersoll Rand in the second quarter valued at about $43,000. Institutional investors and hedge funds own 95.27% of the company’s stock.

Ingersoll Rand Trading Down 2.3 %

NYSE IR opened at $97.55 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.36 and a quick ratio of 1.71. The stock has a market capitalization of $39.31 billion, a P/E ratio of 47.59, a PEG ratio of 3.86 and a beta of 1.42. The firm’s 50-day moving average is $101.07 and its two-hundred day moving average is $95.87. Ingersoll Rand Inc. has a 12 month low of $74.01 and a 12 month high of $106.03.

Ingersoll Rand Announces Dividend

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

Analyst Ratings Changes

IR has been the subject of several research reports. Citigroup upped their price objective on shares of Ingersoll Rand from $112.00 to $119.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Stifel Nicolaus cut Ingersoll Rand from a “buy” rating to a “hold” rating and cut their price target for the company from $112.00 to $107.00 in a report on Monday, November 18th. Cfra boosted their price objective on Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. Wells Fargo & Company raised their target price on Ingersoll Rand from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Finally, UBS Group began coverage on Ingersoll Rand in a report on Wednesday, November 13th. They set a “buy” rating and a $124.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Ingersoll Rand has an average rating of “Moderate Buy” and an average target price of $107.67.

Insider Buying and Selling

In related 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 transaction of $246,620.64. Following the transaction, the chief accounting officer now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.68% of the stock is currently owned by corporate insiders.

Ingersoll Rand 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.