Covestor Ltd Sells 232 Shares of Ingersoll Rand Inc. (NYSE:IR)

Covestor Ltd reduced its stake in Ingersoll Rand Inc. (NYSE:IR) by 39.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 362 shares of the industrial products company’s stock after selling 232 shares during the period. Covestor Ltd’s holdings in Ingersoll Rand were worth $36,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Ridgewood Investments LLC purchased a new stake in shares of Ingersoll Rand in the 2nd quarter worth approximately $25,000. Headlands Technologies LLC purchased a new stake in shares of Ingersoll Rand in the 1st quarter worth approximately $28,000. ESL Trust Services LLC purchased a new stake in shares of Ingersoll Rand in the 1st quarter worth approximately $35,000. EverSource Wealth Advisors LLC lifted its position in shares of Ingersoll Rand by 38.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 126 shares during the period. Finally, UMB Bank n.a. lifted its position in shares of Ingersoll Rand by 196.8% in the 2nd quarter. UMB Bank n.a. now owns 466 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 309 shares during the period. 95.27% of the stock is currently owned by institutional investors.

Insider Transactions at Ingersoll Rand

In other news, insider Elizabeth Meloy Hepding sold 7,500 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $91.42, for a total value of $685,650.00. Following the sale, the insider now owns 6,559 shares in the company, valued at $599,623.78. This represents a 53.35 % 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. Also, insider Kathleen M. Keene sold 4,629 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $89.99, for a total transaction of $416,563.71. Following the sale, the insider now owns 3,829 shares in the company, valued at approximately $344,571.71. This represents a 54.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,660 shares of company stock worth $1,348,834 over the last 90 days. 0.68% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on IR shares. Wolfe Research raised shares of Ingersoll Rand to a “hold” rating in a research report on Friday, September 20th. Cfra upped their price target on shares of Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Wells Fargo & Company increased their target price on shares of Ingersoll Rand from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Barclays increased their target price on shares of Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Finally, UBS Group started coverage on shares of Ingersoll Rand in a research report on Wednesday. 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, Ingersoll Rand presently has an average rating of “Moderate Buy” and a consensus price target of $104.25.

Ingersoll Rand Trading Down 0.5 %

NYSE IR opened at $102.43 on Friday. The company has a fifty day simple moving average of $97.52 and a two-hundred day simple moving average of $94.17. The stock has a market cap of $41.28 billion, a P/E ratio of 50.42, a P/E/G ratio of 3.96 and a beta of 1.42. Ingersoll Rand Inc. has a 12-month low of $69.46 and a 12-month high of $105.63. The company has a current ratio of 2.36, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46.

Ingersoll Rand Dividend Announcement

The firm 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 is Thursday, November 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.08%. Ingersoll Rand’s payout ratio is currently 3.90%.

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.