Douglas Lane & Associates LLC Reduces Stake in Ingersoll Rand Inc. (NYSE:IR)

Douglas Lane & Associates LLC lessened its stake in Ingersoll Rand Inc. (NYSE:IR) by 3.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 882,126 shares of the industrial products company’s stock after selling 30,277 shares during the quarter. Ingersoll Rand accounts for about 1.1% of Douglas Lane & Associates LLC’s portfolio, making the stock its 24th largest holding. Douglas Lane & Associates LLC owned about 0.22% of Ingersoll Rand worth $79,797,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of IR. Wealthspire Advisors LLC boosted its position in Ingersoll Rand by 5.5% in the 2nd quarter. Wealthspire Advisors LLC now owns 2,268 shares of the industrial products company’s stock valued at $206,000 after buying an additional 119 shares during the period. Kanawha Capital Management LLC increased its holdings in Ingersoll Rand by 2.4% in the third quarter. Kanawha Capital Management LLC now owns 5,096 shares of the industrial products company’s stock valued at $500,000 after buying an additional 119 shares in the last quarter. Opal Wealth Advisors LLC lifted its holdings in shares of Ingersoll Rand by 6.0% in the third quarter. Opal Wealth Advisors LLC now owns 2,145 shares of the industrial products company’s stock valued at $211,000 after purchasing an additional 121 shares in the last quarter. Asio Capital LLC grew its holdings in shares of Ingersoll Rand by 0.3% during the third quarter. Asio Capital LLC now owns 44,085 shares of the industrial products company’s stock worth $4,327,000 after buying an additional 133 shares in the last quarter. Finally, GHP Investment Advisors Inc. grew its holdings in Ingersoll Rand by 5.4% in the 3rd quarter. GHP Investment Advisors Inc. now owns 2,821 shares of the industrial products company’s stock valued at $277,000 after buying an additional 144 shares during the period. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Michael J. Scheske sold 2,531 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $97.44, for a total transaction of $246,620.64. Following the completion of the sale, the chief accounting officer now directly owns 11,910 shares in the company, valued at $1,160,510.40. This represents a 17.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.68% of the company’s stock.

Analyst Ratings Changes

IR has been the subject of a number of analyst reports. Wolfe Research raised Ingersoll Rand to a “hold” rating in a report on Friday, September 20th. Barclays decreased their price target on shares of Ingersoll Rand from $120.00 to $115.00 and set an “overweight” rating on the stock in a research report on Wednesday. Wells Fargo & Company decreased their price objective on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a research report on Tuesday. Robert W. Baird lowered their target price on shares of Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Finally, Stifel Nicolaus downgraded Ingersoll Rand from a “buy” rating to a “hold” rating and dropped their price target for the stock from $112.00 to $107.00 in a research report on Monday, November 18th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $106.83.

Ingersoll Rand Stock Down 0.1 %

IR stock traded down $0.07 during midday trading on Wednesday, hitting $89.09. The company’s stock had a trading volume of 1,201,976 shares, compared to its average volume of 2,294,877. Ingersoll Rand Inc. has a twelve month low of $74.58 and a twelve month high of $106.03. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.36 and a quick ratio of 1.71. The company’s fifty day moving average price is $98.80 and its 200 day moving average price is $95.83. The stock has a market capitalization of $35.90 billion, a P/E ratio of 43.46, a PEG ratio of 3.84 and a beta of 1.44.

Ingersoll Rand Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th were issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date was Thursday, November 14th. Ingersoll Rand’s dividend payout ratio is 3.90%.

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.