Ingersoll Rand Inc. (NYSE:IR) Position Trimmed by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC trimmed its stake in Ingersoll Rand Inc. (NYSE:IR) by 8.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,273 shares of the industrial products company’s stock after selling 222 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Ingersoll Rand were worth $206,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in IR. Ashton Thomas Securities LLC acquired a new position in Ingersoll Rand in the 3rd quarter worth about $34,000. Eastern Bank bought a new stake in shares of Ingersoll Rand in the 3rd quarter valued at approximately $42,000. UMB Bank n.a. increased its holdings in Ingersoll Rand by 27.0% in the fourth quarter. UMB Bank n.a. now owns 598 shares of the industrial products company’s stock worth $54,000 after buying an additional 127 shares during the last quarter. Versant Capital Management Inc increased its holdings in Ingersoll Rand by 654.4% in the fourth quarter. Versant Capital Management Inc now owns 679 shares of the industrial products company’s stock worth $61,000 after buying an additional 589 shares during the last quarter. Finally, Princeton Global Asset Management LLC bought a new position in Ingersoll Rand during the third quarter valued at approximately $65,000. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

IR has been the subject of several recent research reports. Citigroup decreased their target price on shares of Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Stifel Nicolaus lowered their target price on shares of Ingersoll Rand from $107.00 to $100.00 and set a “hold” rating on the stock in a research report on Friday, January 24th. Robert W. Baird cut their target price on Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. UBS Group initiated coverage on Ingersoll Rand in a research note on Wednesday, November 13th. They set a “buy” rating and a $124.00 price target for the company. Finally, Wells Fargo & Company cut their price objective on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $105.92.

Ingersoll Rand Stock Down 0.3 %

Shares of IR stock opened at $93.77 on Friday. Ingersoll Rand Inc. has a 12 month low of $79.73 and a 12 month high of $106.03. 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 firm has a market cap of $37.79 billion, a PE ratio of 45.74, a price-to-earnings-growth ratio of 3.61 and a beta of 1.44. The stock has a 50 day moving average of $95.27 and a 200-day moving average of $95.66.

Insider Buying and Selling

In related news, CAO Michael J. Scheske sold 2,531 shares of the business’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 in the company, valued at $1,160,510.40. The trade was a 17.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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.