Public Employees Retirement System of Ohio Has $14.57 Million Stock Position in Ingersoll Rand Inc. (NYSE:IR)

Public Employees Retirement System of Ohio lessened its stake in Ingersoll Rand Inc. (NYSE:IR) by 4.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 148,384 shares of the industrial products company’s stock after selling 7,098 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Ingersoll Rand were worth $14,565,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ridgewood Investments LLC acquired a new position in shares of Ingersoll Rand in the 2nd quarter valued at approximately $25,000. Ashton Thomas Securities LLC acquired a new stake in shares of Ingersoll Rand in the 3rd quarter valued at $34,000. UMB Bank n.a. boosted its holdings in shares of Ingersoll Rand by 196.8% in the 2nd quarter. UMB Bank n.a. now owns 466 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 309 shares in the last quarter. Eastern Bank bought a new position in shares of Ingersoll Rand in the 3rd quarter valued at $42,000. Finally, Rothschild Investment LLC acquired a new position in shares of Ingersoll Rand during the 2nd quarter worth $43,000. Institutional investors own 95.27% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Michael J. Scheske sold 2,531 shares of the business’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 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.68% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on IR. Wolfe Research raised Ingersoll Rand to a “hold” rating in a research note on Friday, September 20th. Citigroup raised their target price on shares of Ingersoll Rand from $112.00 to $119.00 and gave the company a “buy” rating in a research report on Monday. Wells Fargo & Company upped their price target on shares of Ingersoll Rand from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Evercore ISI cut their price objective on Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Finally, Morgan Stanley began coverage on Ingersoll Rand in a report on Friday, September 6th. They issued an “equal weight” rating and a $97.00 target price for the company. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.67.

Ingersoll Rand Stock Down 0.7 %

Shares of NYSE IR opened at $101.82 on Wednesday. The company’s 50 day moving average price is $100.94 and its 200-day moving average price is $95.56. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.36. Ingersoll Rand Inc. has a 52-week low of $73.38 and a 52-week high of $106.03. The company has a market capitalization of $41.03 billion, a P/E ratio of 49.67, a price-to-earnings-growth ratio of 3.88 and a beta of 1.42.

Ingersoll Rand Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th were given a dividend of $0.02 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.08%. Ingersoll Rand’s dividend payout ratio (DPR) is currently 3.90%.

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.