Ingersoll Rand Inc. (NYSE:IR) Shares Sold by Raymond James & Associates

Raymond James & Associates lessened its stake in Ingersoll Rand Inc. (NYSE:IR – Get Rating) by 7.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 187,474 shares of the industrial products company’s stock after selling 15,073 shares during the quarter. Raymond James & Associates’ holdings in Ingersoll Rand were worth $8,110,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in IR. American Century Companies Inc. boosted its holdings in shares of Ingersoll Rand by 12.0% in the 1st quarter. American Century Companies Inc. now owns 15,601 shares of the industrial products company’s stock valued at $786,000 after purchasing an additional 1,675 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Ingersoll Rand by 47.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 9,880 shares of the industrial products company’s stock valued at $497,000 after purchasing an additional 3,185 shares during the last quarter. Private Advisor Group LLC acquired a new position in shares of Ingersoll Rand in the 1st quarter valued at $327,000. Panagora Asset Management Inc. lifted its holdings in shares of Ingersoll Rand by 62.2% during the 1st quarter. Panagora Asset Management Inc. now owns 28,937 shares of the industrial products company’s stock valued at $1,457,000 after acquiring an additional 11,096 shares in the last quarter. Finally, Yousif Capital Management LLC lifted its holdings in shares of Ingersoll Rand by 1.7% during the 1st quarter. Yousif Capital Management LLC now owns 57,771 shares of the industrial products company’s stock valued at $2,909,000 after acquiring an additional 988 shares in the last quarter. Institutional investors and hedge funds own 99.73% of the company’s stock.

Ingersoll Rand Stock Performance

Ingersoll Rand stock opened at $57.39 on Friday. The firm’s fifty day moving average price is $53.58 and its 200 day moving average price is $49.24. The company has a market capitalization of $23.24 billion, a price-to-earnings ratio of 34.57 and a beta of 1.43. Ingersoll Rand Inc. has a 12-month low of $39.28 and a 12-month high of $60.45. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.46 and a quick ratio of 1.79.

Ingersoll Rand (NYSE:IR – Get Rating) last released its earnings results on Wednesday, November 2nd. The industrial products company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.01. The company had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.45 billion. Ingersoll Rand had a net margin of 11.91% and a return on equity of 9.81%. On average, research analysts forecast that Ingersoll Rand Inc. will post 2.12 EPS for the current fiscal year.

Ingersoll Rand Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 16th. Stockholders of record on Wednesday, November 16th were given a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.14%. The ex-dividend date was Tuesday, November 15th. Ingersoll Rand’s payout ratio is currently 4.82%.

Insider Transactions at Ingersoll Rand

In other news, CAO Michael J. Scheske sold 1,743 shares of the business’s stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $53.43, for a total value of $93,128.49. Following the completion of the sale, the chief accounting officer now owns 7,110 shares of the company’s stock, valued at approximately $379,887.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Andrew R. Schiesl sold 10,000 shares of the business’s stock in a transaction dated Thursday, November 3rd. The shares were sold at an average price of $52.00, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Michael J. Scheske sold 1,743 shares of the business’s stock in a transaction dated Monday, November 7th. The shares were 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 of the company’s stock, valued at approximately $379,887.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,636 shares of company stock valued at $1,190,675. Insiders own 0.75% of the company’s stock.

Analyst Upgrades and Downgrades

IR has been the topic of several recent research reports. Credit Suisse Group lifted their target price on shares of Ingersoll Rand from $44.00 to $53.00 and gave the company a “neutral” rating in a report on Friday, November 4th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Ingersoll Rand from $51.00 to $49.00 and set a “hold” rating on the stock in a report on Thursday, October 13th. TheStreet upgraded shares of Ingersoll Rand from a “c” rating to a “b” rating in a report on Friday, November 25th. Citigroup lifted their target price on shares of Ingersoll Rand from $57.00 to $62.00 and gave the company a “buy” rating in a report on Friday, December 9th. Finally, Morgan Stanley lifted their target price on shares of Ingersoll Rand from $53.00 to $57.00 and gave the company an “overweight” rating in a report on Friday, November 4th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $55.30.

About Ingersoll Rand

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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.