Ingersoll Rand Inc. (NYSE:IR) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 2.9% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 194,383 shares of the industrial products company’s stock after selling 5,766 shares during the period. PNC Financial Services Group Inc.’s holdings in Ingersoll Rand were worth $19,081,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of IR. Swedbank AB grew its stake in Ingersoll Rand by 34.0% during the 2nd quarter. Swedbank AB now owns 780,712 shares of the industrial products company’s stock valued at $70,920,000 after purchasing an additional 198,200 shares in the last quarter. Canada Pension Plan Investment Board grew its position in shares of Ingersoll Rand by 44.5% during the first quarter. Canada Pension Plan Investment Board now owns 242,735 shares of the industrial products company’s stock worth $23,048,000 after buying an additional 74,788 shares in the last quarter. Bayesian Capital Management LP increased its stake in shares of Ingersoll Rand by 334.6% in the first quarter. Bayesian Capital Management LP now owns 11,300 shares of the industrial products company’s stock worth $1,073,000 after buying an additional 8,700 shares during the last quarter. GDS Wealth Management raised its holdings in Ingersoll Rand by 6.4% in the third quarter. GDS Wealth Management now owns 167,248 shares of the industrial products company’s stock valued at $16,417,000 after acquiring an additional 10,081 shares in the last quarter. Finally, AXA S.A. raised its holdings in Ingersoll Rand by 81.4% in the second quarter. AXA S.A. now owns 87,829 shares of the industrial products company’s stock valued at $7,978,000 after acquiring an additional 39,417 shares in the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.

Insider Activity

In other news, CAO Michael J. Scheske sold 2,531 shares of Ingersoll Rand stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $97.44, for a total transaction of $246,620.64. Following the transaction, the chief accounting officer now owns 11,910 shares in the company, valued at $1,160,510.40. The trade was a 17.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kathleen M. Keene sold 4,629 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $89.99, for a total transaction of $416,563.71. Following the sale, the insider now directly owns 3,829 shares of the company’s stock, valued at $344,571.71. This represents a 54.73 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.

Ingersoll Rand Stock Down 0.1 %

NYSE IR opened at $103.04 on Friday. The stock’s 50 day simple moving average is $98.94 and its 200 day simple moving average is $94.54. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.36 and a quick ratio of 1.71. The firm has a market cap of $41.53 billion, a PE ratio of 50.26, a price-to-earnings-growth ratio of 3.88 and a beta of 1.42. Ingersoll Rand Inc. has a one year low of $69.46 and a one year high of $105.63.

Ingersoll Rand Dividend Announcement

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 given a $0.02 dividend. The ex-dividend date is Thursday, November 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.08%. Ingersoll Rand’s payout ratio is 3.90%.

Wall Street Analysts Forecast Growth

IR has been the topic of a number of recent analyst reports. Stifel Nicolaus lowered shares of Ingersoll Rand from a “buy” rating to a “hold” rating and cut their target price for the company from $112.00 to $107.00 in a research note on Monday. Wolfe Research upgraded Ingersoll Rand to a “hold” rating in a research note on Friday, September 20th. Evercore ISI decreased their target price on Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Robert W. Baird dropped their price target on Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Finally, Wells Fargo & Company raised their price objective on Ingersoll Rand from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $103.83.

Ingersoll Rand 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.