Pitcairn Co. Sells 829 Shares of Ingersoll Rand Inc. (NYSE:IR)

Pitcairn Co. lowered its stake in Ingersoll Rand Inc. (NYSE:IR) by 19.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,338 shares of the industrial products company’s stock after selling 829 shares during the quarter. Pitcairn Co.’s holdings in Ingersoll Rand were worth $328,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Ridgewood Investments LLC bought a new stake in Ingersoll Rand in the 2nd quarter valued at approximately $25,000. Ashton Thomas Securities LLC bought a new position in Ingersoll Rand in the third quarter valued at $34,000. Eastern Bank bought a new stake in Ingersoll Rand during the 3rd quarter worth about $42,000. EverSource Wealth Advisors LLC boosted its stake in shares of Ingersoll Rand by 38.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company’s stock worth $42,000 after buying an additional 126 shares during the last quarter. Finally, UMB Bank n.a. grew its holdings in shares of Ingersoll Rand by 196.8% in the 2nd 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 in the last quarter. 95.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on IR. Morgan Stanley began 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. Stifel Nicolaus downgraded Ingersoll Rand from a “buy” rating to a “hold” rating and lowered their price target for the stock from $112.00 to $107.00 in a research report on Monday, November 18th. Wolfe Research raised Ingersoll Rand to a “hold” rating in a research report on Friday, September 20th. Evercore ISI decreased their target price on Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Finally, UBS Group began coverage on shares of Ingersoll Rand in a research report on Wednesday, November 13th. They set a “buy” rating and a $124.00 price objective for the company. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Ingersoll Rand currently has an average rating of “Moderate Buy” and a consensus price target of $103.83.

Ingersoll Rand Trading Down 0.6 %

IR stock opened at $104.72 on Wednesday. Ingersoll Rand Inc. has a 52 week low of $69.46 and a 52 week high of $106.03. The company has a market capitalization of $42.20 billion, a PE ratio of 51.08, a price-to-earnings-growth ratio of 3.95 and a beta of 1.42. The company’s 50-day simple moving average is $99.70 and its 200 day simple moving average is $94.91. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders 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 dividend on an annualized basis and a dividend yield of 0.08%. Ingersoll Rand’s payout ratio is presently 3.90%.

Insider Transactions at Ingersoll Rand

In related news, CAO Michael J. Scheske sold 2,531 shares of the firm’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 transaction, the chief accounting officer now owns 11,910 shares in the company, valued at approximately $1,160,510.40. This trade represents a 17.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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.