Wealth Enhancement Advisory Services LLC Decreases Stock Position in Ingersoll Rand Inc. (NYSE:IR)

Wealth Enhancement Advisory Services LLC decreased its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 13.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,108 shares of the industrial products company’s stock after selling 2,219 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Ingersoll Rand were worth $1,385,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in IR. Capital International Investors raised its stake in Ingersoll Rand by 113.7% during the first quarter. Capital International Investors now owns 26,166,256 shares of the industrial products company’s stock valued at $2,484,486,000 after purchasing an additional 13,919,775 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Ingersoll Rand by 28.4% during the 1st quarter. JPMorgan Chase & Co. now owns 15,977,246 shares of the industrial products company’s stock valued at $1,517,040,000 after buying an additional 3,535,543 shares in the last quarter. Capital Research Global Investors lifted its holdings in shares of Ingersoll Rand by 15.3% in the 1st quarter. Capital Research Global Investors now owns 11,316,241 shares of the industrial products company’s stock valued at $1,074,477,000 after acquiring an additional 1,504,414 shares during the last quarter. Capital World Investors purchased a new position in Ingersoll Rand in the first quarter worth about $440,401,000. Finally, Dimensional Fund Advisors LP increased its stake in Ingersoll Rand by 6.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,462,558 shares of the industrial products company’s stock worth $314,549,000 after acquiring an additional 224,463 shares during the last quarter. 95.27% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Vicente Reynal sold 50,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $92.51, for a total transaction of $4,625,500.00. Following the transaction, the insider now directly owns 100,367 shares in the company, valued at approximately $9,284,951.17. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Elizabeth Meloy Hepding sold 7,500 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $91.42, for a total transaction of $685,650.00. Following the transaction, the insider now directly owns 6,559 shares of the company’s stock, valued at approximately $599,623.78. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Vicente Reynal sold 50,000 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $92.51, for a total value of $4,625,500.00. Following the sale, the insider now owns 100,367 shares of the company’s stock, valued at approximately $9,284,951.17. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 77,510 shares of company stock valued at $7,108,005 over the last three months. 0.68% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

IR has been the subject of a number of recent research reports. Morgan Stanley started coverage on Ingersoll Rand in a report on Friday, September 6th. They issued an “equal weight” rating and a $97.00 target price for the company. Evercore ISI dropped their price objective on shares of Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Stifel Nicolaus increased their target price on shares of Ingersoll Rand from $101.00 to $112.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Barclays lifted their price target on shares of Ingersoll Rand from $101.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Finally, Wolfe Research raised shares of Ingersoll Rand to a “hold” rating in a research report on Friday, September 20th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Ingersoll Rand has an average rating of “Moderate Buy” and an average price target of $101.67.

Ingersoll Rand Stock Up 0.7 %

Shares of NYSE:IR opened at $94.61 on Tuesday. The company has a quick ratio of 1.52, a current ratio of 2.18 and a debt-to-equity ratio of 0.47. The business’s 50 day moving average is $95.40 and its 200 day moving average is $93.54. The stock has a market cap of $38.17 billion, a P/E ratio of 46.15, a price-to-earnings-growth ratio of 2.63 and a beta of 1.42. Ingersoll Rand Inc. has a 52-week low of $64.60 and a 52-week high of $102.74.

Ingersoll Rand Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 14th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.08%. Ingersoll Rand’s payout ratio is currently 3.90%.

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.