Ingersoll Rand Inc. (NYSE:IR) Shares Sold by Citigroup Inc.

Citigroup Inc. trimmed its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 16.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 340,102 shares of the industrial products company’s stock after selling 65,029 shares during the period. Citigroup Inc.’s holdings in Ingersoll Rand were worth $33,384,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in IR. Wealthspire Advisors LLC boosted its holdings in shares of 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 in the last quarter. Kanawha Capital Management LLC boosted its stake 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 acquiring an additional 119 shares in the last quarter. Opal Wealth Advisors LLC increased its position in shares of Ingersoll Rand by 6.0% during the third quarter. Opal Wealth Advisors LLC now owns 2,145 shares of the industrial products company’s stock worth $211,000 after purchasing an additional 121 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Ingersoll Rand by 38.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 126 shares during the last quarter. Finally, Resonant Capital Advisors LLC boosted its position in shares of Ingersoll Rand by 4.2% in the 2nd quarter. Resonant Capital Advisors LLC now owns 3,300 shares of the industrial products company’s stock valued at $300,000 after purchasing an additional 133 shares during the period. 95.27% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Michael J. Scheske sold 2,531 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $1,160,510.40. This trade represents a 17.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.68% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have commented on the company. Wolfe Research upgraded Ingersoll Rand to a “hold” rating in a research note on Friday, September 20th. Robert W. Baird lowered their price objective 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. UBS Group initiated coverage on shares of Ingersoll Rand in a report on Wednesday, November 13th. They issued a “buy” rating and a $124.00 target price for the company. Evercore ISI lowered their price target 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, Cfra boosted their price target on Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $103.83.

Ingersoll Rand Stock Up 1.3 %

IR opened at $105.36 on Tuesday. The business has a 50 day simple moving average of $99.49 and a 200-day simple moving average of $94.81. The stock has a market capitalization of $42.46 billion, a P/E ratio of 51.40, a P/E/G ratio of 3.95 and a beta of 1.42. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.36 and a quick ratio of 1.71. Ingersoll Rand Inc. has a 12 month low of $69.46 and a 12 month high of $106.03.

Ingersoll Rand Dividend Announcement

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

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.