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

Kentucky Retirement Systems reduced its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 7.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,109 shares of the industrial products company’s stock after selling 2,292 shares during the period. Kentucky Retirement Systems’ holdings in Ingersoll Rand were worth $2,759,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Ridgewood Investments LLC acquired a new position in Ingersoll Rand in the second quarter worth $25,000. Ashton Thomas Securities LLC acquired a new position in shares of Ingersoll Rand in the 3rd quarter valued at about $34,000. EverSource Wealth Advisors LLC grew its position in shares of Ingersoll Rand by 38.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company’s stock valued at $42,000 after buying an additional 126 shares during the last quarter. UMB Bank n.a. raised its stake in 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 acquiring an additional 309 shares during the period. Finally, Eastern Bank bought a new position in Ingersoll Rand in the third quarter worth about $42,000. Institutional investors and hedge funds own 95.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on IR. Robert W. Baird dropped their price target 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. Wells Fargo & Company increased their target price on Ingersoll Rand from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Morgan Stanley started coverage on shares of Ingersoll Rand in a report on Friday, September 6th. They set an “equal weight” rating and a $97.00 price target for the company. Cfra increased their price objective on shares of Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Finally, UBS Group assumed coverage on shares of Ingersoll Rand in a research note on Wednesday, November 13th. They set a “buy” rating and a $124.00 target price for the company. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $104.25.

Insider Buying and Selling

In other news, CAO Michael J. Scheske sold 2,531 shares of the firm’s stock in a transaction on 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Elizabeth Meloy Hepding sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $91.42, for a total transaction of $685,650.00. Following the completion of the sale, the insider now owns 6,559 shares of the company’s stock, valued at $599,623.78. The trade was a 53.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,660 shares of company stock worth $1,348,834 in the last 90 days. 0.68% of the stock is owned by company insiders.

Ingersoll Rand Trading Down 0.5 %

Ingersoll Rand stock opened at $102.43 on Monday. Ingersoll Rand Inc. has a 12 month low of $69.46 and a 12 month high of $105.63. The stock has a market cap of $41.28 billion, a price-to-earnings ratio of 49.97, a price-to-earnings-growth ratio of 3.89 and a beta of 1.42. The business has a 50 day moving average price of $97.83 and a two-hundred day moving average price of $94.25. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th will be paid a $0.02 dividend. The ex-dividend date of this dividend is 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%.

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.