Pinnacle Associates Ltd. Lowers Holdings in Ingersoll Rand Inc. (NYSE:IR)

Pinnacle Associates Ltd. lessened its stake in Ingersoll Rand Inc. (NYSE:IR) by 9.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,333 shares of the industrial products company’s stock after selling 453 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Ingersoll Rand were worth $425,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Ridgewood Investments LLC bought a new stake in Ingersoll Rand in the second quarter worth $25,000. Headlands Technologies LLC purchased a new stake in shares of Ingersoll Rand during the 1st quarter valued at about $28,000. ESL Trust Services LLC bought a new position in shares of Ingersoll Rand in the 1st quarter valued at about $35,000. EverSource Wealth Advisors LLC grew its position in Ingersoll Rand by 38.5% in the first quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 126 shares in the last quarter. Finally, UMB Bank n.a. increased its stake in Ingersoll Rand by 196.8% during the second quarter. UMB Bank n.a. now owns 466 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 309 shares during the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Price Performance

Shares of IR opened at $93.97 on Monday. Ingersoll Rand Inc. has a 1-year low of $62.12 and a 1-year high of $102.74. The firm has a 50-day simple moving average of $95.32 and a two-hundred day simple moving average of $93.50. The stock has a market cap of $37.92 billion, a PE ratio of 45.84, a P/E/G ratio of 2.63 and a beta of 1.42. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.18 and a quick ratio of 1.52.

Ingersoll Rand Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 14th will be paid a dividend of $0.02 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. Ingersoll Rand’s payout ratio is 3.90%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on IR shares. Robert W. Baird lifted their target price on Ingersoll Rand from $109.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Barclays increased their target price on shares of Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Evercore ISI cut their price target on shares of Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Wolfe Research raised shares of Ingersoll Rand to a “hold” rating in a research note on Friday, September 20th. Finally, Wells Fargo & Company upped their price target on shares of Ingersoll Rand from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $102.17.

Insider Activity at Ingersoll Rand

In other news, insider Vicente Reynal sold 50,000 shares of Ingersoll Rand 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 transaction, the insider now directly owns 100,367 shares of the company’s stock, valued at $9,284,951.17. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Ingersoll Rand news, insider Andrew R. Schiesl sold 15,381 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $89.74, for a total value of $1,380,290.94. Following the sale, the insider now owns 39,486 shares of the company’s stock, valued at approximately $3,543,473.64. This 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 the SEC website. Also, 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 completion of the sale, the insider now owns 100,367 shares in the company, valued at $9,284,951.17. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 77,510 shares of company stock valued at $7,108,005 over the last quarter. 0.68% of the stock is owned by insiders.

About Ingersoll Rand

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.