First Horizon Advisors Inc. Sells 165 Shares of Ingersoll Rand Inc. (NYSE:IR)

First Horizon Advisors Inc. decreased its holdings in Ingersoll Rand Inc. (NYSE:IR) by 6.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,450 shares of the industrial products company’s stock after selling 165 shares during the quarter. First Horizon Advisors Inc.’s holdings in Ingersoll Rand were worth $240,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its position in shares of Ingersoll Rand by 6.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,462,558 shares of the industrial products company’s stock valued at $314,549,000 after buying an additional 224,463 shares in the last quarter. Ensign Peak Advisors Inc increased its stake in Ingersoll Rand by 20.8% during the 2nd quarter. Ensign Peak Advisors Inc now owns 1,454,956 shares of the industrial products company’s stock worth $132,168,000 after acquiring an additional 250,712 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its holdings in Ingersoll Rand by 0.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 963,167 shares of the industrial products company’s stock valued at $94,544,000 after acquiring an additional 2,458 shares in the last quarter. Hsbc Holdings PLC lifted its position in shares of Ingersoll Rand by 12.4% during the 2nd quarter. Hsbc Holdings PLC now owns 863,449 shares of the industrial products company’s stock valued at $78,422,000 after acquiring an additional 95,371 shares during the period. Finally, Swedbank AB grew its holdings in shares of Ingersoll Rand by 34.0% during the 2nd quarter. Swedbank AB now owns 780,712 shares of the industrial products company’s stock worth $70,920,000 after purchasing an additional 198,200 shares in the last quarter. Institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Price Performance

Shares of IR opened at $104.00 on Friday. 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 stock has a market cap of $41.91 billion, a PE ratio of 50.73, a PEG ratio of 3.88 and a beta of 1.42. Ingersoll Rand Inc. has a 12-month low of $69.46 and a 12-month high of $105.63. The business has a 50-day simple moving average of $99.20 and a two-hundred day simple moving average of $94.65.

Ingersoll Rand Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.08%. The ex-dividend date of this dividend is Thursday, November 14th. Ingersoll Rand’s dividend payout ratio is currently 3.90%.

Insider Activity at Ingersoll Rand

In related news, CAO Michael J. Scheske sold 2,531 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $97.44, for a total transaction of $246,620.64. Following the completion of the transaction, the chief accounting officer now directly owns 11,910 shares of the company’s stock, valued at $1,160,510.40. This trade represents a 17.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kathleen M. Keene sold 4,629 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $89.99, for a total value of $416,563.71. Following the completion of the sale, the insider now owns 3,829 shares in the company, valued at $344,571.71. This trade represents a 54.73 % decrease in their position. The disclosure for this sale can be found here. 0.68% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. UBS Group assumed coverage on Ingersoll Rand in a research note on Wednesday, November 13th. They issued a “buy” rating and a $124.00 price target for the company. Cfra upped their price target on shares of Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Barclays lifted their price objective on shares of Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Evercore ISI lowered their price objective on shares of Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Finally, Morgan Stanley started coverage on Ingersoll Rand in a report on Friday, September 6th. They issued an “equal weight” rating and a $97.00 target price on the stock. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $103.83.

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.