CHURCHILL MANAGEMENT Corp Reduces Holdings in Ingersoll Rand Inc. (NYSE:IR)

CHURCHILL MANAGEMENT Corp reduced its stake in Ingersoll Rand Inc. (NYSE:IR) by 1.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 264,920 shares of the industrial products company’s stock after selling 2,983 shares during the period. CHURCHILL MANAGEMENT Corp owned approximately 0.07% of Ingersoll Rand worth $23,965,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in IR. Virtu Financial LLC acquired a new stake in Ingersoll Rand in the third quarter valued at approximately $864,000. Nordea Investment Management AB lifted its holdings in shares of Ingersoll Rand by 19.1% in the 4th quarter. Nordea Investment Management AB now owns 1,691,399 shares of the industrial products company’s stock valued at $153,867,000 after purchasing an additional 271,381 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in Ingersoll Rand by 9.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 90,827 shares of the industrial products company’s stock worth $8,916,000 after buying an additional 7,784 shares during the last quarter. GDS Wealth Management increased its position in Ingersoll Rand by 6.4% during the third quarter. GDS Wealth Management now owns 167,248 shares of the industrial products company’s stock worth $16,417,000 after buying an additional 10,081 shares during the period. Finally, Intech Investment Management LLC lifted its stake in Ingersoll Rand by 28.2% in the third quarter. Intech Investment Management LLC now owns 101,745 shares of the industrial products company’s stock valued at $9,987,000 after buying an additional 22,401 shares during the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Analyst Upgrades and Downgrades

IR has been the topic of a number of recent research reports. Cfra lifted their target price on shares of Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a report on Friday, October 4th. Wolfe Research upgraded shares of Ingersoll Rand to a “hold” rating in a research note on Friday, September 20th. Wells Fargo & Company decreased their target price on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Citigroup dropped their price target on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday. Finally, UBS Group assumed coverage on Ingersoll Rand in a research report on Wednesday, November 13th. They set a “buy” rating and a $124.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Ingersoll Rand presently has a consensus rating of “Moderate Buy” and an average target price of $106.50.

Ingersoll Rand Stock Up 1.3 %

IR opened at $90.54 on Thursday. Ingersoll Rand Inc. has a 12 month low of $76.64 and a 12 month high of $106.03. The business has a 50-day moving average of $98.07 and a two-hundred day moving average of $95.74. 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 $36.49 billion, a price-to-earnings ratio of 44.17, a price-to-earnings-growth ratio of 3.84 and a beta of 1.44.

Ingersoll Rand Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Thursday, November 14th were issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date was Thursday, November 14th. Ingersoll Rand’s payout ratio is currently 3.90%.

Insider Activity

In other news, CAO Michael J. Scheske sold 2,531 shares of Ingersoll Rand 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 sale, the chief accounting officer now directly owns 11,910 shares of the company’s stock, valued at approximately $1,160,510.40. The trade was a 17.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.68% of the company’s stock.

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.