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

Swedbank AB cut its stake in Ingersoll Rand Inc. (NYSE:IR) by 76.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 182,212 shares of the industrial products company’s stock after selling 598,500 shares during the period. Swedbank AB’s holdings in Ingersoll Rand were worth $17,886,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. GDS Wealth Management increased its stake in Ingersoll Rand by 6.4% during the third quarter. GDS Wealth Management now owns 167,248 shares of the industrial products company’s stock worth $16,417,000 after acquiring an additional 10,081 shares during the last quarter. AXA S.A. increased its position in Ingersoll Rand by 81.4% during the 2nd quarter. AXA S.A. now owns 87,829 shares of the industrial products company’s stock worth $7,978,000 after purchasing an additional 39,417 shares in the last quarter. Candriam S.C.A. raised its holdings in Ingersoll Rand by 3.0% in the second quarter. Candriam S.C.A. now owns 199,419 shares of the industrial products company’s stock valued at $18,114,000 after buying an additional 5,797 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Ingersoll Rand by 59.9% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 77,268 shares of the industrial products company’s stock valued at $7,019,000 after buying an additional 28,938 shares in the last quarter. Finally, Intech Investment Management LLC grew its stake in 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 buying an additional 22,401 shares during the period. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Ingersoll Rand Stock Performance

Shares of IR stock opened at $104.72 on Wednesday. The stock has a market capitalization of $42.20 billion, a price-to-earnings ratio of 51.08, a PEG ratio of 3.95 and a beta of 1.42. Ingersoll Rand Inc. has a one year low of $69.46 and a one year high of $106.03. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th will be issued a $0.02 dividend. 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 dividend payout ratio (DPR) is 3.90%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on IR shares. Stifel Nicolaus lowered shares of Ingersoll Rand from a “buy” rating to a “hold” rating and reduced their target price for the company from $112.00 to $107.00 in a report on Monday, November 18th. Morgan Stanley initiated coverage on Ingersoll Rand in a research report on Friday, September 6th. They issued an “equal weight” rating and a $97.00 target price for the company. UBS Group assumed coverage on Ingersoll Rand in a report on Wednesday, November 13th. They set a “buy” rating and a $124.00 target price on the stock. Barclays upped their price target on Ingersoll Rand from $101.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Finally, Wolfe Research upgraded shares of Ingersoll Rand to a “hold” rating in a research note on Friday, September 20th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $103.83.

Insider Activity at Ingersoll Rand

In related news, CAO Michael J. Scheske sold 2,531 shares of the business’s stock in a transaction dated 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 owns 11,910 shares of the company’s stock, valued at $1,160,510.40. This represents a 17.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.68% of the company’s stock.

Ingersoll Rand Company 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.