Victory Capital Management Inc. Trims Position in Ingersoll Rand Inc. (NYSE:IR)

Victory Capital Management Inc. lessened its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 4.0% in the third quarter, Holdings Channel reports. The fund owned 169,685 shares of the industrial products company’s stock after selling 7,122 shares during the quarter. Victory Capital Management Inc.’s holdings in Ingersoll Rand were worth $16,656,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of the company. Wealthspire Advisors LLC increased its position in Ingersoll Rand by 5.5% in the second quarter. Wealthspire Advisors LLC now owns 2,268 shares of the industrial products company’s stock worth $206,000 after buying an additional 119 shares in the last quarter. Kanawha Capital Management LLC raised its stake in Ingersoll Rand by 2.4% during the 3rd quarter. Kanawha Capital Management LLC now owns 5,096 shares of the industrial products company’s stock valued at $500,000 after purchasing an additional 119 shares during the period. Opal Wealth Advisors LLC raised its stake in Ingersoll Rand by 6.0% during the 3rd quarter. Opal Wealth Advisors LLC now owns 2,145 shares of the industrial products company’s stock valued at $211,000 after purchasing an additional 121 shares during the period. EverSource Wealth Advisors LLC raised its stake in 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 purchasing an additional 126 shares during the period. Finally, Resonant Capital Advisors LLC raised its stake in Ingersoll Rand by 4.2% during the 2nd quarter. Resonant Capital Advisors LLC now owns 3,300 shares of the industrial products company’s stock valued at $300,000 after purchasing an additional 133 shares during the period. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Trading Up 0.7 %

Shares of NYSE IR opened at $102.38 on Wednesday. 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 fifty day simple moving average of $98.40 and a two-hundred day simple moving average of $94.42. The firm has a market cap of $41.26 billion, a PE ratio of 49.94, a price-to-earnings-growth ratio of 3.89 and a beta of 1.42. Ingersoll Rand Inc. has a twelve month low of $69.46 and a twelve month high of $105.63.

Ingersoll Rand Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders 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 is Thursday, November 14th. Ingersoll Rand’s payout ratio is 3.90%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on IR. Robert W. Baird decreased their target price on Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Cfra raised their price target on Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a report on Friday, October 4th. Stifel Nicolaus cut Ingersoll Rand from a “buy” rating to a “hold” rating and cut their price target for the company from $112.00 to $107.00 in a report on Monday. Barclays raised their price target on Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Finally, UBS Group initiated coverage on Ingersoll Rand in a report on Wednesday, November 13th. They set a “buy” rating and a $124.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $103.83.

Insider Transactions at Ingersoll Rand

In related news, 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 directly 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Kathleen M. Keene sold 4,629 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $89.99, for a total value of $416,563.71. Following the transaction, the insider now directly owns 3,829 shares in the company, valued at $344,571.71. This represents a 54.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company’s stock.

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.