Thrivent Financial for Lutherans Trims Position in Ingersoll Rand Inc. (NYSE:IR)

Thrivent Financial for Lutherans reduced its position in Ingersoll Rand Inc. (NYSE:IR) by 41.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 172,417 shares of the industrial products company’s stock after selling 123,862 shares during the period. Thrivent Financial for Lutherans’ holdings in Ingersoll Rand were worth $16,925,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Capital World Investors purchased a new position in Ingersoll Rand during the first quarter worth about $440,401,000. Swedbank AB purchased a new position in shares of Ingersoll Rand during the 1st quarter worth about $55,310,000. International Assets Investment Management LLC boosted its position in shares of Ingersoll Rand by 9,681.5% in the third quarter. International Assets Investment Management LLC now owns 360,349 shares of the industrial products company’s stock worth $353,720,000 after acquiring an additional 356,665 shares during the last quarter. Ensign Peak Advisors Inc grew its holdings in Ingersoll Rand by 20.8% in the second quarter. Ensign Peak Advisors Inc now owns 1,454,956 shares of the industrial products company’s stock valued at $132,168,000 after purchasing an additional 250,712 shares during the period. Finally, 1832 Asset Management L.P. acquired a new position in Ingersoll Rand during the first quarter worth approximately $21,411,000. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Stock Up 0.7 %

Shares of NYSE:IR opened at $103.13 on Thursday. The company’s fifty day moving average is $98.67 and its two-hundred day moving average is $94.48. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.36. Ingersoll Rand Inc. has a 1-year low of $69.46 and a 1-year high of $105.63. The stock has a market capitalization of $41.56 billion, a price-to-earnings ratio of 50.31, a price-to-earnings-growth ratio of 3.89 and a beta of 1.42.

Ingersoll Rand Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th will be issued a $0.02 dividend. 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 is currently 3.90%.

Analysts Set New Price Targets

IR has been the subject of several research reports. Stifel Nicolaus cut shares of Ingersoll Rand from a “buy” rating to a “hold” rating and lowered their price objective for the company from $112.00 to $107.00 in a research note on Monday. Evercore ISI dropped their price target on Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Barclays raised 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. Wells Fargo & Company boosted their target price on Ingersoll Rand from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Finally, Robert W. Baird reduced their price target on shares of Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $103.83.

Insider Buying and Selling at Ingersoll Rand

In other Ingersoll Rand news, insider Kathleen M. Keene sold 4,629 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $89.99, for a total value of $416,563.71. Following the sale, the insider now directly owns 3,829 shares in the company, valued at approximately $344,571.71. This trade represents a 54.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Michael J. Scheske sold 2,531 shares of the company’s 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 $1,160,510.40. This represents a 17.53 % decrease in their position. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by 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.