Victory Capital Management Inc. Decreases Stake in Ingersoll Rand Inc. (NYSE:IR)

Victory Capital Management Inc. lowered its position in Ingersoll Rand Inc. (NYSE:IR) by 4.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. 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 SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Avantax Advisory Services Inc. bought a new position in Ingersoll Rand in the 1st quarter worth about $237,000. Covestor Ltd boosted its stake in Ingersoll Rand by 184.3% in the 1st quarter. Covestor Ltd now owns 634 shares of the industrial products company’s stock worth $60,000 after purchasing an additional 411 shares during the period. O Shaughnessy Asset Management LLC boosted its stake in Ingersoll Rand by 29.2% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 16,711 shares of the industrial products company’s stock worth $1,587,000 after purchasing an additional 3,772 shares during the period. UniSuper Management Pty Ltd boosted its stake in Ingersoll Rand by 308.7% in the 1st quarter. UniSuper Management Pty Ltd now owns 15,557 shares of the industrial products company’s stock worth $1,477,000 after purchasing an additional 11,751 shares during the period. Finally, Bessemer Group Inc. boosted its stake in Ingersoll Rand by 1.3% in the 1st quarter. Bessemer Group Inc. now owns 22,148 shares of the industrial products company’s stock worth $2,102,000 after purchasing an additional 285 shares during the period. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Analyst Ratings Changes

IR has been the subject of a number of research analyst reports. UBS Group initiated coverage on Ingersoll Rand in a research report on Wednesday, November 13th. They set a “buy” rating and a $124.00 price target for the company. Robert W. Baird dropped their price target on Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Wolfe Research upgraded Ingersoll Rand to a “hold” rating in a research report on Friday, September 20th. Morgan Stanley initiated coverage on Ingersoll Rand in a research report on Friday, September 6th. They set an “equal weight” rating and a $97.00 price target for the company. Finally, Cfra boosted their target price on Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $103.83.

Ingersoll Rand Price Performance

IR opened at $102.38 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.36. Ingersoll Rand Inc. has a 52-week low of $69.46 and a 52-week high of $105.63. The stock has a market capitalization 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. The stock’s 50 day moving average price is $98.40 and its 200-day moving average price is $94.42.

Ingersoll Rand Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 14th will be given a dividend of $0.02 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.08%. Ingersoll Rand’s dividend payout ratio is presently 3.90%.

Insider Activity at Ingersoll Rand

In other Ingersoll Rand news, CAO Michael J. Scheske sold 2,531 shares of the business’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 sale, the chief accounting officer now directly owns 11,910 shares of the company’s stock, 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 can be accessed through this link. Also, insider Kathleen M. Keene sold 4,629 shares of the business’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 in the company, valued at $344,571.71. This trade represents a 54.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by corporate 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.