Ingersoll Rand Inc. (NYSE:IR) Stock Holdings Lowered by Bank of Montreal Can

Bank of Montreal Can reduced its holdings in Ingersoll Rand Inc. (NYSE:IR) by 10.5% during the third quarter, Holdings Channel reports. The firm owned 489,387 shares of the industrial products company’s stock after selling 57,329 shares during the period. Bank of Montreal Can’s holdings in Ingersoll Rand were worth $47,999,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Swedbank AB raised its holdings in shares of Ingersoll Rand by 34.0% during the second quarter. Swedbank AB now owns 780,712 shares of the industrial products company’s stock valued at $70,920,000 after acquiring an additional 198,200 shares during the period. GDS Wealth Management raised its holdings in shares of Ingersoll Rand by 6.4% during 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 during the period. AXA S.A. raised its holdings in shares of Ingersoll Rand by 81.4% during 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 during the period. Candriam S.C.A. raised its holdings in shares of Ingersoll Rand by 3.0% during the second quarter. Candriam S.C.A. now owns 199,419 shares of the industrial products company’s stock valued at $18,114,000 after acquiring an additional 5,797 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Ingersoll Rand by 59.9% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 77,268 shares of the industrial products company’s stock valued at $7,019,000 after acquiring an additional 28,938 shares during the period. 95.27% of the stock is currently owned by institutional investors.

Ingersoll Rand Stock Performance

IR stock opened at $104.05 on Thursday. The company has a quick ratio of 1.71, a current ratio of 2.36 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $41.93 billion, a price-to-earnings ratio of 50.76, a P/E/G ratio of 4.00 and a beta of 1.42. Ingersoll Rand Inc. has a 12 month low of $69.46 and a 12 month high of $106.03. The firm has a 50 day moving average of $99.91 and a two-hundred day moving average of $94.97.

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 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 is currently 3.90%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company boosted their price target 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. Robert W. Baird lowered their price objective on shares of Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Stifel Nicolaus downgraded shares of Ingersoll Rand from a “buy” rating to a “hold” rating and lowered their price objective for the company from $112.00 to $107.00 in a research report on Monday, November 18th. UBS Group started coverage on shares of Ingersoll Rand in a research report on Wednesday, November 13th. They set a “buy” rating and a $124.00 price objective on the stock. Finally, Evercore ISI lowered their price objective on shares of 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 given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.83.

Insider Buying and Selling

In related news, CAO Michael J. Scheske sold 2,531 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $97.44, for a total transaction of $246,620.64. Following the completion of the sale, the chief accounting officer now directly owns 11,910 shares of the company’s stock, valued at approximately $1,160,510.40. This represents a 17.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.68% of the stock is owned by insiders.

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.