Steward Partners Investment Advisory LLC Decreases Stake in Ingersoll Rand Inc. (NYSE:IR)

Steward Partners Investment Advisory LLC lowered its holdings in Ingersoll Rand Inc. (NYSE:IRGet Rating) by 8.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,489 shares of the industrial products company’s stock after selling 321 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Ingersoll Rand were worth $147,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Prospera Financial Services Inc purchased a new stake in Ingersoll Rand during the first quarter valued at $27,000. CVA Family Office LLC increased its position in Ingersoll Rand by 131.3% during the second quarter. CVA Family Office LLC now owns 740 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 420 shares during the last quarter. Trust Co. of Vermont purchased a new stake in Ingersoll Rand during the second quarter valued at $31,000. Hazlett Burt & Watson Inc. purchased a new stake in Ingersoll Rand during the first quarter valued at $36,000. Finally, Clear Street Markets LLC increased its position in Ingersoll Rand by 406.0% during the second quarter. Clear Street Markets LLC now owns 850 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 682 shares during the last quarter. Hedge funds and other institutional investors own 99.89% of the company’s stock.

Insider Buying and Selling at Ingersoll Rand

In other Ingersoll Rand news, CAO Michael J. Scheske sold 1,743 shares of the company’s stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $53.43, for a total transaction of $93,128.49. Following the sale, the chief accounting officer now directly owns 7,110 shares in the company, valued at $379,887.30. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CAO Michael J. Scheske sold 1,743 shares of the stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $53.43, for a total value of $93,128.49. Following the sale, the chief accounting officer now directly owns 7,110 shares in the company, valued at $379,887.30. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Vicente Reynal sold 10,893 shares of the stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $53.02, for a total value of $577,546.86. Following the completion of the sale, the insider now owns 128,567 shares in the company, valued at $6,816,622.34. The disclosure for this sale can be found here. Insiders have sold a total of 45,286 shares of company stock worth $2,402,312 over the last ninety days. Company insiders own 0.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on IR. StockNews.com began coverage on Ingersoll Rand in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Jefferies Financial Group cut their price target on Ingersoll Rand from $60.00 to $55.00 in a report on Friday, July 15th. Barclays cut their price target on Ingersoll Rand from $59.00 to $57.00 and set an “overweight” rating for the company in a report on Monday, October 3rd. TheStreet lowered Ingersoll Rand from a “b-” rating to a “c” rating in a report on Tuesday, October 11th. Finally, Morgan Stanley boosted their price target on Ingersoll Rand from $53.00 to $57.00 and gave the company an “overweight” rating in a report on Friday, November 4th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $54.20.

Ingersoll Rand Trading Down 1.0 %

Shares of IR stock opened at $51.73 on Thursday. Ingersoll Rand Inc. has a 1 year low of $39.28 and a 1 year high of $62.64. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.46 and a quick ratio of 1.79. The stock’s 50 day simple moving average is $47.64 and its two-hundred day simple moving average is $46.50. The company has a market cap of $20.95 billion, a PE ratio of 31.16 and a beta of 1.47.

Ingersoll Rand Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Wednesday, November 16th will be given a dividend of $0.02 per share. The ex-dividend date is Tuesday, November 15th. This represents a $0.08 dividend on an annualized basis and a yield of 0.15%. Ingersoll Rand’s dividend payout ratio (DPR) is presently 4.82%.

Ingersoll Rand Company Profile

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Ingersoll Rand Inc provides various mission-critical air, fluid, energy, specialty vehicle and medical technologies in the United States, Europe, the Middle East, Africa, and the Asia Pacific. It operates through two segments, Industrial Technologies and Services, and Precision and Science Technologies.

Further Reading

Institutional Ownership by Quarter for Ingersoll Rand (NYSE:IR)

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