Retirement Systems of Alabama Sells 696 Shares of Ingersoll Rand Inc. (NYSE:IR)

Retirement Systems of Alabama cut its position in Ingersoll Rand Inc. (NYSE:IR) by 0.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 88,297 shares of the industrial products company’s stock after selling 696 shares during the quarter. Retirement Systems of Alabama’s holdings in Ingersoll Rand were worth $8,667,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of IR. Wealth Enhancement Advisory Services LLC lifted its position in Ingersoll Rand by 11.6% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 16,327 shares of the industrial products company’s stock valued at $1,483,000 after acquiring an additional 1,697 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Ingersoll Rand by 10.3% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 6,913 shares of the industrial products company’s stock valued at $628,000 after purchasing an additional 645 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Ingersoll Rand by 4.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 13,232 shares of the industrial products company’s stock worth $1,202,000 after purchasing an additional 559 shares in the last quarter. Blue Trust Inc. grew its stake in Ingersoll Rand by 308.0% during the 2nd quarter. Blue Trust Inc. now owns 1,020 shares of the industrial products company’s stock worth $97,000 after buying an additional 770 shares during the last quarter. Finally, Raymond James & Associates increased its position in Ingersoll Rand by 17.4% during the 2nd quarter. Raymond James & Associates now owns 234,153 shares of the industrial products company’s stock valued at $21,270,000 after buying an additional 34,754 shares in the last quarter. 95.27% of the stock is owned by hedge funds and other institutional investors.

Ingersoll Rand Stock Performance

Shares of IR stock opened at $97.55 on Wednesday. The stock has a market cap of $39.31 billion, a PE ratio of 47.59, a price-to-earnings-growth ratio of 3.86 and a beta of 1.42. Ingersoll Rand Inc. has a 52-week low of $74.01 and a 52-week high of $106.03. The business has a 50-day simple moving average of $101.07 and a 200-day simple moving average of $95.87. The company has a quick ratio of 1.71, a current ratio of 2.36 and a debt-to-equity ratio of 0.46.

Ingersoll Rand Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th were given a $0.02 dividend. The ex-dividend date was Thursday, November 14th. This represents a $0.08 annualized dividend and a yield of 0.08%. Ingersoll Rand’s dividend payout ratio is presently 3.90%.

Insider Transactions at Ingersoll Rand

In related news, CAO Michael J. Scheske sold 2,531 shares of Ingersoll Rand 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. The trade was a 17.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.68% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Morgan Stanley assumed coverage on Ingersoll Rand in a research note on Friday, September 6th. They set an “equal weight” rating and a $97.00 price target on the stock. The Goldman Sachs Group boosted their target price on shares of Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Wells Fargo & Company upped their price target on shares of Ingersoll Rand from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Wolfe Research upgraded shares of Ingersoll Rand to a “hold” rating in a research note on Friday, September 20th. Finally, Barclays upped their target price on Ingersoll Rand from $105.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $107.67.

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.