Blueshift Asset Management LLC Reduces Holdings in Ingersoll Rand Inc. (NYSE:IR)

Blueshift Asset Management LLC reduced its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 27.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,402 shares of the industrial products company’s stock after selling 1,308 shares during the period. Blueshift Asset Management LLC’s holdings in Ingersoll Rand were worth $334,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Wealthspire Advisors LLC increased its stake in shares of Ingersoll Rand by 5.5% in the second quarter. Wealthspire Advisors LLC now owns 2,268 shares of the industrial products company’s stock worth $206,000 after purchasing an additional 119 shares in the last quarter. Kanawha Capital Management LLC increased its stake in Ingersoll Rand by 2.4% in the 3rd quarter. Kanawha Capital Management LLC now owns 5,096 shares of the industrial products company’s stock worth $500,000 after buying an additional 119 shares in the last quarter. Opal Wealth Advisors LLC raised its holdings in Ingersoll Rand by 6.0% during the third quarter. Opal Wealth Advisors LLC now owns 2,145 shares of the industrial products company’s stock valued at $211,000 after acquiring an additional 121 shares during the period. EverSource Wealth Advisors LLC lifted its position 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 acquiring an additional 126 shares in the last quarter. Finally, Resonant Capital Advisors LLC boosted its stake in shares of Ingersoll Rand by 4.2% in the second quarter. Resonant Capital Advisors LLC now owns 3,300 shares of the industrial products company’s stock worth $300,000 after acquiring an additional 133 shares during the period. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Barclays lifted their target price on Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Wolfe Research upgraded shares of Ingersoll Rand to a “hold” rating in a research report on Friday, September 20th. Evercore ISI cut their target price on shares of Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Wells Fargo & Company boosted their price target on shares of Ingersoll Rand from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Finally, Cfra raised their price objective on Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a research report on Friday, October 4th. 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, Ingersoll Rand presently has a consensus rating of “Moderate Buy” and an average price target of $103.83.

Insider Buying and Selling

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

Ingersoll Rand Trading Down 0.7 %

Shares of IR stock opened at $104.05 on Friday. The company has a market cap of $41.93 billion, a PE ratio of 50.76, a price-to-earnings-growth ratio of 4.00 and a beta of 1.42. Ingersoll Rand Inc. has a 1 year low of $69.46 and a 1 year high of $106.03. The stock’s 50 day simple moving average is $100.03 and its two-hundred day simple moving average is $95.03. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.36 and a quick ratio of 1.71.

Ingersoll Rand Announces Dividend

The business also recently declared 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. The ex-dividend date is Thursday, November 14th. This represents a $0.08 annualized dividend and a yield of 0.08%. Ingersoll Rand’s payout ratio is presently 3.90%.

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.