Oppenheimer & Co. Inc. Sells 6,985 Shares of Ingersoll Rand Inc. (NYSE:IR)

Oppenheimer & Co. Inc. lessened its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 75.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,260 shares of the industrial products company’s stock after selling 6,985 shares during the period. Oppenheimer & Co. Inc.’s holdings in Ingersoll Rand were worth $222,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in IR. Ridgewood Investments LLC bought a new position in Ingersoll Rand in the 2nd quarter worth approximately $25,000. Ashton Thomas Securities LLC bought a new stake in shares of Ingersoll Rand during the third quarter worth $34,000. EverSource Wealth Advisors LLC lifted its stake in shares of Ingersoll Rand by 38.5% during the first quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 126 shares during the period. UMB Bank n.a. boosted its holdings in Ingersoll Rand by 196.8% in the second quarter. UMB Bank n.a. now owns 466 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 309 shares during the last quarter. Finally, Eastern Bank acquired a new stake in Ingersoll Rand in the third quarter worth about $42,000. Institutional investors own 95.27% of the company’s stock.

Analyst Ratings Changes

IR has been the topic of a number of research reports. Barclays upped their target price on shares of Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company increased their price objective on shares of Ingersoll Rand from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Cfra lifted their target price on shares of Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a report on Friday, October 4th. UBS Group began coverage on shares of Ingersoll Rand in a research report on Wednesday, November 13th. They set a “buy” rating and a $124.00 target price for the company. Finally, Evercore ISI reduced their price target on Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $103.83.

Ingersoll Rand Stock Performance

Shares of Ingersoll Rand stock opened at $104.00 on Friday. The stock’s fifty day simple moving average is $99.20 and its 200 day simple moving average is $94.65. The company has a current ratio of 2.36, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $41.91 billion, a PE ratio of 50.73, a PEG ratio of 3.88 and a beta of 1.42. Ingersoll Rand Inc. has a 12 month low of $69.46 and a 12 month high of $105.63.

Ingersoll Rand Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.08%. The ex-dividend date is Thursday, November 14th. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.90%.

Insider Activity at Ingersoll Rand

In other news, CAO Michael J. Scheske sold 2,531 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $97.44, for a total value of $246,620.64. Following the completion of the transaction, the chief accounting officer now owns 11,910 shares in the company, valued at $1,160,510.40. This trade represents a 17.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kathleen M. Keene sold 4,629 shares of the business’s 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 transaction, the insider now owns 3,829 shares in the company, valued at approximately $344,571.71. The trade was a 54.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.