Ingersoll Rand Inc. (NYSE:IR) Shares Sold by Citizens Business Bank

Citizens Business Bank trimmed its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 0.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,299 shares of the industrial products company’s stock after selling 211 shares during the period. Citizens Business Bank’s holdings in Ingersoll Rand were worth $3,661,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Swedbank AB lifted its position in shares of Ingersoll Rand by 34.0% in the 2nd quarter. Swedbank AB now owns 780,712 shares of the industrial products company’s stock valued at $70,920,000 after acquiring an additional 198,200 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in Ingersoll Rand by 9.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 90,827 shares of the industrial products company’s stock worth $8,916,000 after acquiring an additional 7,784 shares in the last quarter. GDS Wealth Management grew its stake in Ingersoll Rand by 6.4% during the 3rd quarter. GDS Wealth Management now owns 167,248 shares of the industrial products company’s stock valued at $16,417,000 after acquiring an additional 10,081 shares in the last quarter. Intech Investment Management LLC boosted its holdings in shares of Ingersoll Rand by 28.2% during the third quarter. Intech Investment Management LLC now owns 101,745 shares of the industrial products company’s stock worth $9,987,000 after purchasing an additional 22,401 shares during the period. Finally, AXA S.A. increased its stake in Ingersoll Rand by 81.4% in the 2nd quarter. AXA S.A. now owns 87,829 shares of the industrial products company’s stock valued at $7,978,000 after buying an additional 39,417 shares during the period. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Stock Performance

IR opened at $101.82 on Wednesday. The stock has a market cap of $41.03 billion, a PE ratio of 49.67, a P/E/G ratio of 3.88 and a beta of 1.42. Ingersoll Rand Inc. has a 1 year low of $73.38 and a 1 year high of $106.03. The stock’s 50 day simple moving average is $100.94 and its 200-day simple moving average is $95.56. 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 business also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th were issued a $0.02 dividend. The ex-dividend date was 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 presently 3.90%.

Wall Street Analysts Forecast Growth

IR has been the topic of a number of research reports. Barclays upped their price target on shares of Ingersoll Rand from $105.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. UBS Group initiated coverage on Ingersoll Rand in a report on Wednesday, November 13th. They issued a “buy” rating and a $124.00 price objective on the stock. Cfra boosted their target price 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. Stifel Nicolaus downgraded shares of 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, November 18th. Finally, Wolfe Research upgraded shares of Ingersoll Rand to a “hold” rating in a report on Friday, September 20th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $105.67.

Insider Activity at Ingersoll Rand

In other news, CAO Michael J. Scheske sold 2,531 shares of Ingersoll Rand stock in a transaction that occurred on Tuesday, November 5th. The shares were 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 owns 11,910 shares in the company, valued at approximately $1,160,510.40. The trade was a 17.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.68% of the stock is 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.