UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 4.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,642,196 shares of the industrial products company’s stock after selling 247,243 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 1.40% of Ingersoll Rand worth $553,838,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. FMR LLC increased its holdings in Ingersoll Rand by 10.5% during the 3rd quarter. FMR LLC now owns 16,152,094 shares of the industrial products company’s stock worth $1,585,489,000 after purchasing an additional 1,538,056 shares during the last quarter. Fisher Asset Management LLC increased its holdings in Ingersoll Rand by 1.7% during the 3rd quarter. Fisher Asset Management LLC now owns 6,744,839 shares of the industrial products company’s stock worth $662,074,000 after purchasing an additional 114,727 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Ingersoll Rand by 6.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,462,558 shares of the industrial products company’s stock worth $314,549,000 after purchasing an additional 224,463 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Ingersoll Rand by 1.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,208,267 shares of the industrial products company’s stock worth $216,763,000 after purchasing an additional 21,289 shares during the last quarter. Finally, Ensign Peak Advisors Inc increased its holdings in Ingersoll Rand by 20.8% during the 2nd quarter. Ensign Peak Advisors Inc now owns 1,454,956 shares of the industrial products company’s stock worth $132,168,000 after purchasing an additional 250,712 shares during the last quarter. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Ingersoll Rand Trading Down 0.7 %

NYSE:IR opened at $104.05 on Friday. Ingersoll Rand Inc. has a 12-month low of $69.46 and a 12-month high of $106.03. The firm has a market capitalization of $41.93 billion, a P/E ratio of 50.76, a P/E/G ratio of 3.95 and a beta of 1.42. 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 business has a 50 day simple moving average of $100.03 and a 200 day simple moving average of $95.03.

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 given a dividend of $0.02 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.08%. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.90%.

Insiders Place Their Bets

In other Ingersoll Rand news, CAO Michael J. Scheske sold 2,531 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $97.44, for a total transaction of $246,620.64. Following the completion of the transaction, the chief accounting officer now owns 11,910 shares in the company, valued at approximately $1,160,510.40. The trade was a 17.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.68% of the stock is currently owned by insiders.

Analysts Set New Price Targets

IR has been the topic of several analyst reports. Barclays lifted their price objective on Ingersoll Rand from $101.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Evercore ISI lowered their price target on Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating for the company in a report on Monday, August 19th. UBS Group initiated coverage on Ingersoll Rand in a report on Wednesday, November 13th. They issued a “buy” rating and a $124.00 price target for the company. Wells Fargo & Company boosted their price target on Ingersoll Rand from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Finally, Robert W. Baird lowered their price target on Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating for the company in a report on Monday, November 4th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has an average 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.