Zurcher Kantonalbank Zurich Cantonalbank Decreases Stake in Ingersoll Rand Inc. (NYSE:IR)

Zurcher Kantonalbank Zurich Cantonalbank lessened its holdings in Ingersoll Rand Inc. (NYSE:IR) by 0.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 185,956 shares of the industrial products company’s stock after selling 1,630 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Ingersoll Rand were worth $18,253,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Ridgewood Investments LLC bought a new position in Ingersoll Rand in the 2nd quarter valued at $25,000. Ashton Thomas Securities LLC bought a new position in Ingersoll Rand during the third quarter valued at about $34,000. Eastern Bank bought a new stake in Ingersoll Rand in the third quarter worth about $42,000. EverSource Wealth Advisors LLC raised its position in Ingersoll Rand by 38.5% in the first quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 126 shares during the period. Finally, UMB Bank n.a. grew its position in shares of Ingersoll Rand by 196.8% during the 2nd quarter. UMB Bank n.a. now owns 466 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 309 shares during the period. 95.27% of the stock is owned by institutional investors.

Insider Activity at Ingersoll Rand

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

Ingersoll Rand Price Performance

Ingersoll Rand stock opened at $104.24 on Friday. The stock has a market cap of $42.01 billion, a price-to-earnings ratio of 50.85, a PEG ratio of 3.95 and a beta of 1.42. The company has a quick ratio of 1.71, a current ratio of 2.36 and a debt-to-equity ratio of 0.46. The business has a 50-day simple moving average of $100.18 and a 200 day simple moving average of $95.13. Ingersoll Rand Inc. has a 52 week low of $69.51 and a 52 week high of $106.03.

Ingersoll Rand Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 14th will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.08%. The ex-dividend date of this dividend is Thursday, November 14th. Ingersoll Rand’s dividend payout ratio (DPR) is 3.90%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on IR shares. Robert W. Baird lowered their price target on shares of Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. Barclays upped their price target on Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Wolfe Research raised Ingersoll Rand to a “hold” rating in a report on Friday, September 20th. Stifel Nicolaus downgraded shares of Ingersoll Rand from a “buy” rating to a “hold” rating and dropped their price objective for the company from $112.00 to $107.00 in a report on Monday, November 18th. Finally, Morgan Stanley began coverage on shares of Ingersoll Rand in a research note on Friday, September 6th. They issued an “equal weight” rating and a $97.00 target price for the company. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.