Ingersoll Rand Inc. (NYSE:IR) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund decreased its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 8.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 11,946 shares of the industrial products company’s stock after selling 1,066 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Ingersoll Rand were worth $1,173,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Ridgewood Investments LLC acquired a new position in shares of Ingersoll Rand in the 2nd quarter valued at $25,000. Ashton Thomas Securities LLC purchased a new stake in Ingersoll Rand during the third quarter valued at about $34,000. Eastern Bank acquired a new position in shares of Ingersoll Rand in the third quarter worth about $42,000. EverSource Wealth Advisors LLC increased its position in shares of Ingersoll Rand by 38.5% in the first quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 126 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in shares of Ingersoll Rand by 196.8% during the second quarter. UMB Bank n.a. now owns 466 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 309 shares during the period. Institutional investors and hedge funds own 95.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on IR. Evercore ISI lowered their price objective on shares of Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Wolfe Research upgraded Ingersoll Rand to a “hold” rating in a report on Friday, September 20th. Stifel Nicolaus upped their price target on Ingersoll Rand from $101.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Barclays lifted their target price on Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Finally, Wells Fargo & Company raised their price target on shares of Ingersoll Rand from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $104.25.

Ingersoll Rand Stock Down 0.5 %

Shares of IR opened at $102.43 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.36. The company has a 50-day simple moving average of $97.83 and a 200-day simple moving average of $94.25. Ingersoll Rand Inc. has a 52 week low of $69.46 and a 52 week high of $105.63. The firm has a market capitalization of $41.28 billion, a P/E ratio of 49.97, a P/E/G ratio of 3.89 and a beta of 1.42.

Ingersoll Rand Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 0.08%. Ingersoll Rand’s dividend payout ratio (DPR) is 3.90%.

Insiders Place Their Bets

In related news, CAO Michael J. Scheske sold 2,531 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $97.44, for a total value of $246,620.64. Following the completion of the transaction, the chief accounting officer now directly owns 11,910 shares in the company, valued at approximately $1,160,510.40. This represents a 17.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Kathleen M. Keene sold 4,629 shares of Ingersoll Rand stock in a transaction on Tuesday, August 27th. The stock was 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 $344,571.71. This represents a 54.73 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,660 shares of company stock worth $1,348,834. 0.68% of the stock is currently owned by company insiders.

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.