Citigroup Inc. lessened its holdings in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 16.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 340,102 shares of the industrial products company's stock after selling 65,029 shares during the quarter. Citigroup Inc. owned approximately 0.08% of Ingersoll Rand worth $33,384,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of IR. Ridgewood Investments LLC acquired a new position in Ingersoll Rand during the second quarter worth $25,000. Ashton Thomas Securities LLC acquired a new position in shares of Ingersoll Rand during the 3rd quarter valued at about $34,000. EverSource Wealth Advisors LLC grew its holdings in shares of Ingersoll Rand by 38.5% in the first quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company's stock valued at $42,000 after purchasing an additional 126 shares during the period. UMB Bank n.a. increased its position 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 purchasing an additional 309 shares during the last quarter. Finally, Eastern Bank purchased a new position in Ingersoll Rand during the third quarter worth about $42,000. 95.27% of the stock is currently owned by institutional investors and hedge funds.
In other news, CAO Michael J. Scheske sold 2,531 shares of the business's 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 completion of the transaction, the chief accounting officer now directly owns 11,910 shares of the company's stock, valued at approximately $1,160,510.40. The trade was a 17.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.68% of the company's stock.
NYSE IR opened at $105.36 on Tuesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.36. The firm has a market cap of $42.46 billion, a price-to-earnings ratio of 51.40, a PEG ratio of 3.95 and a beta of 1.42. The firm has a 50 day simple moving average of $99.49 and a 200-day simple moving average of $94.81. Ingersoll Rand Inc. has a one year low of $69.46 and a one year high of $106.03.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th will be paid 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 dividend payout ratio (DPR) is 3.90%.
IR has been the subject of a number of recent analyst reports. Cfra raised their price target 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. Wells Fargo & Company lifted their target price on Ingersoll Rand from $100.00 to $110.00 and gave the company an "overweight" rating in a research report on Monday, October 7th. Evercore ISI lowered their price target on Ingersoll Rand from $93.00 to $88.00 and set an "in-line" rating for the company in a report on Monday, August 19th. Morgan Stanley began coverage on shares of Ingersoll Rand in a report on Friday, September 6th. They issued an "equal weight" rating and a $97.00 price objective on the stock. Finally, Wolfe Research raised shares of Ingersoll Rand to a "hold" rating in a research note on Friday, September 20th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Ingersoll Rand presently has an average rating of "Moderate Buy" and an average price target of $103.83.
Get Our Latest Research Report on IR
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.
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