Hartford Investment Management Co. Reduces Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

Hartford Investment Management Co. cut its holdings in Ingersoll Rand Inc. (NYSE:IR) by 1.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 25,588 shares of the industrial products company’s stock after selling 299 shares during the quarter. Hartford Investment Management Co.’s holdings in Ingersoll Rand were worth $2,512,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Ridgewood Investments LLC acquired a new position in shares of Ingersoll Rand in the 2nd quarter valued at $25,000. Headlands Technologies LLC acquired a new position in shares of Ingersoll Rand in the first quarter valued at about $28,000. ESL Trust Services LLC purchased a new position in shares of Ingersoll Rand in the first quarter worth about $35,000. Eastern Bank purchased a new position in shares of Ingersoll Rand in the third quarter worth about $42,000. Finally, EverSource Wealth Advisors LLC boosted its position in Ingersoll Rand by 38.5% in the first quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company’s stock valued at $42,000 after buying an additional 126 shares during the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.

Analyst Ratings Changes

IR has been the subject of a number of recent research reports. Robert W. Baird raised their price target on shares of Ingersoll Rand from $109.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Stifel Nicolaus boosted their target price on shares of Ingersoll Rand from $101.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Barclays upped their price target on shares of Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Evercore ISI reduced their price objective 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. Finally, Morgan Stanley started coverage on Ingersoll Rand in a research note on Friday, September 6th. They issued an “equal weight” rating and a $97.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $102.17.

Ingersoll Rand Trading Down 0.5 %

IR stock opened at $95.93 on Friday. Ingersoll Rand Inc. has a 12-month low of $59.20 and a 12-month high of $102.74. The business’s 50-day moving average is $94.60 and its 200 day moving average is $93.29. The company has a current ratio of 2.18, a quick ratio of 1.52 and a debt-to-equity ratio of 0.47. The stock has a market cap of $38.70 billion, a price-to-earnings ratio of 47.73, a PEG ratio of 2.72 and a beta of 1.42.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.06. Ingersoll Rand had a return on equity of 13.00% and a net margin of 11.73%. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.78 billion. On average, sell-side analysts anticipate that Ingersoll Rand Inc. will post 3.22 EPS for the current fiscal year.

Ingersoll Rand Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 0.08%. Ingersoll Rand’s dividend payout ratio (DPR) is 3.98%.

Insider Transactions at Ingersoll Rand

In other Ingersoll Rand news, insider Kathleen M. Keene sold 4,629 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at $344,571.71. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 completion of the sale, the insider now directly owns 3,829 shares of the company’s stock, valued at $344,571.71. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Elizabeth Meloy Hepding sold 7,500 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $91.42, for a total transaction of $685,650.00. Following the transaction, the insider now directly owns 6,559 shares in the company, valued at approximately $599,623.78. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 77,510 shares of company stock valued at $7,108,005. Corporate insiders own 0.68% of the company’s stock.

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.