Oppenheimer & Co. Inc. Trims Stake in Ingersoll Rand Inc. (NYSE:IR)

Oppenheimer & Co. Inc. decreased its position in shares of Ingersoll Rand Inc. (NYSE:IRGet Rating) by 7.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 10,124 shares of the industrial products company’s stock after selling 816 shares during the period. Oppenheimer & Co. Inc.’s holdings in Ingersoll Rand were worth $426,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Quent Capital LLC boosted its position in shares of Ingersoll Rand by 40.7% in the 2nd quarter. Quent Capital LLC now owns 1,100 shares of the industrial products company’s stock worth $46,000 after purchasing an additional 318 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund boosted its position in shares of Ingersoll Rand by 15.3% in the 2nd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 13,869 shares of the industrial products company’s stock worth $584,000 after purchasing an additional 1,838 shares in the last quarter. Kentucky Retirement Systems boosted its position in shares of Ingersoll Rand by 16.0% in the 2nd quarter. Kentucky Retirement Systems now owns 30,128 shares of the industrial products company’s stock worth $1,268,000 after purchasing an additional 4,148 shares in the last quarter. Texas Permanent School Fund boosted its position in shares of Ingersoll Rand by 1.4% in the 2nd quarter. Texas Permanent School Fund now owns 53,617 shares of the industrial products company’s stock worth $2,256,000 after purchasing an additional 750 shares in the last quarter. Finally, State of Michigan Retirement System boosted its position in shares of Ingersoll Rand by 6.4% in the 2nd quarter. State of Michigan Retirement System now owns 109,423 shares of the industrial products company’s stock worth $4,605,000 after purchasing an additional 6,600 shares in the last quarter. Hedge funds and other institutional investors own 99.89% of the company’s stock.

Insider Transactions at Ingersoll Rand

In other news, insider Vicente Reynal sold 10,893 shares of the company’s stock in a transaction 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 directly owns 128,567 shares in the company, valued at approximately $6,816,622.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Ingersoll Rand news, insider Vicente Reynal sold 10,893 shares of the stock in a transaction 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 approximately $6,816,622.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Andrew R. Schiesl sold 10,000 shares of the stock in a transaction on Thursday, November 3rd. The stock was sold at an average price of $52.00, for a total value of $520,000.00. Following the completion of the sale, the insider now owns 70,928 shares of the company’s stock, valued at approximately $3,688,256. The disclosure for this sale can be found here. Insiders sold 22,636 shares of company stock worth $1,190,675 in the last three months. Corporate insiders own 0.75% of the company’s stock.

Ingersoll Rand Trading Down 2.2 %

NYSE:IR opened at $53.79 on Friday. 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 firm has a market capitalization of $21.78 billion, a price-to-earnings ratio of 32.40 and a beta of 1.47. Ingersoll Rand Inc. has a one year low of $39.28 and a one year high of $62.64. The business has a fifty day moving average price of $48.42 and a 200-day moving average price of $46.91.

Ingersoll Rand Cuts Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. StockNews.com assumed coverage on Ingersoll Rand in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. TheStreet cut Ingersoll Rand from a “b-” rating to a “c” rating in a research report on Tuesday, October 11th. Wells Fargo & Company upped their price objective on Ingersoll Rand from $51.00 to $57.00 and gave the company an “overweight” rating in a research report on Friday, November 4th. Barclays lowered their price objective on Ingersoll Rand from $59.00 to $57.00 and set an “overweight” rating on the stock in a research report on Monday, October 3rd. Finally, Credit Suisse Group upped their price objective on Ingersoll Rand from $44.00 to $53.00 and gave the company a “neutral” rating in a research report on Friday, November 4th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Ingersoll Rand presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.20.

Ingersoll Rand Company Profile

(Get Rating)

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.

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

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