Cambridge Investment Research Advisors Inc. Sells 1,791 Shares of Ingersoll Rand Inc. (NYSE:IR)

Cambridge Investment Research Advisors Inc. trimmed its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 22.6% during the third quarter, HoldingsChannel.com reports. The firm owned 6,118 shares of the industrial products company’s stock after selling 1,791 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Ingersoll Rand were worth $308,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. New York State Common Retirement Fund increased its stake in Ingersoll Rand by 11.7% in the 3rd quarter. New York State Common Retirement Fund now owns 1,117,130 shares of the industrial products company’s stock worth $56,315,000 after acquiring an additional 116,631 shares during the last quarter. Allworth Financial LP increased its stake in Ingersoll Rand by 11.6% in the 3rd quarter. Allworth Financial LP now owns 1,783 shares of the industrial products company’s stock worth $90,000 after acquiring an additional 186 shares during the last quarter. Victory Capital Management Inc. increased its stake in Ingersoll Rand by 48.1% in the 3rd quarter. Victory Capital Management Inc. now owns 181,883 shares of the industrial products company’s stock worth $9,169,000 after acquiring an additional 59,056 shares during the last quarter. ING Groep NV increased its stake in Ingersoll Rand by 10.9% in the 3rd quarter. ING Groep NV now owns 34,016 shares of the industrial products company’s stock worth $1,715,000 after acquiring an additional 3,356 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its stake in Ingersoll Rand by 5.9% in the 3rd quarter. Asset Management One Co. Ltd. now owns 177,624 shares of the industrial products company’s stock worth $8,954,000 after acquiring an additional 9,842 shares during the last quarter. Institutional investors own 95.86% of the company’s stock.

In other news, insider Sia Abbaszadeh sold 5,000 shares of the stock in a transaction that occurred on Monday, November 15th. The stock was sold at an average price of $58.59, for a total value of $292,950.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Michael J. Scheske sold 6,972 shares of the stock in a transaction that occurred on Thursday, December 9th. The stock was sold at an average price of $59.98, for a total value of $418,180.56. The disclosure for this sale can be found here. Company insiders own 0.69% of the company’s stock.

IR has been the topic of a number of research analyst reports. Wells Fargo & Company upgraded Ingersoll Rand from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $58.00 to $68.00 in a research note on Friday, November 19th. Deutsche Bank Aktiengesellschaft cut their price objective on Ingersoll Rand from $67.00 to $66.00 and set a “buy” rating for the company in a report on Friday, December 10th. Vertical Research started coverage on Ingersoll Rand in a report on Friday, October 8th. They issued a “hold” rating and a $54.00 price objective for the company. Jefferies Financial Group reiterated a “buy” rating and issued a $69.00 price objective on shares of Ingersoll Rand in a report on Friday, November 19th. Finally, Credit Suisse Group upped their price objective on Ingersoll Rand from $59.00 to $62.00 and gave the stock a “neutral” rating in a report on Friday, November 19th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $65.57.

Shares of IR stock opened at $59.36 on Friday. The stock has a market capitalization of $24.19 billion, a PE ratio of 59.36 and a beta of 1.47. Ingersoll Rand Inc. has a 1-year low of $40.64 and a 1-year high of $62.64. The business has a 50-day moving average of $59.61 and a 200 day moving average of $54.29. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.47 and a quick ratio of 1.94.

Ingersoll Rand (NYSE:IR) last issued its earnings results on Wednesday, November 3rd. The industrial products company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.10. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.27 billion. Ingersoll Rand had a return on equity of 7.11% and a net margin of 7.68%. Ingersoll Rand’s quarterly revenue was up 19.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.07 EPS. Analysts anticipate that Ingersoll Rand Inc. will post 1.85 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 17th. Shareholders of record on Wednesday, November 10th were issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.13%. The ex-dividend date was Tuesday, November 9th. Ingersoll Rand’s dividend payout ratio (DPR) is currently 8.00%.

About Ingersoll Rand

Ingersoll Rand, Inc provides a broad range of mission critical air, fluid, energy, specialty vehicle and medical technologies, providing services and solutions to increase industrial productivity and efficiency. It operates through the following segments: Industrial Technologies and Services, Precision and Science Technologies, High Pressure Solutions, and Specialty Vehicle Technologies.

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Institutional Ownership by Quarter for Ingersoll Rand (NYSE:IR)

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