Oppenheimer & Co. Inc. Sells 6,985 Shares of Ingersoll Rand Inc. (NYSE:IR)

Oppenheimer & Co. Inc. cut its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 75.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,260 shares of the industrial products company’s stock after selling 6,985 shares during the period. Oppenheimer & Co. Inc.’s holdings in Ingersoll Rand were worth $222,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. O Shaughnessy Asset Management LLC grew its holdings in shares of Ingersoll Rand by 29.2% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 16,711 shares of the industrial products company’s stock valued at $1,587,000 after purchasing an additional 3,772 shares during the last quarter. Natixis grew its stake in shares of Ingersoll Rand by 327.2% during the first quarter. Natixis now owns 4,857 shares of the industrial products company’s stock worth $461,000 after buying an additional 3,720 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Ingersoll Rand by 41.7% in the 1st quarter. Advisors Asset Management Inc. now owns 19,696 shares of the industrial products company’s stock valued at $1,870,000 after acquiring an additional 5,794 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Ingersoll Rand by 44.5% during the 1st quarter. Canada Pension Plan Investment Board now owns 242,735 shares of the industrial products company’s stock valued at $23,048,000 after acquiring an additional 74,788 shares in the last quarter. Finally, 1832 Asset Management L.P. bought a new stake in Ingersoll Rand during the 1st quarter worth $21,411,000. Institutional investors and hedge funds own 95.27% of the company’s stock.

Insider Activity

In other Ingersoll Rand news, CAO Michael J. Scheske sold 2,531 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief accounting officer now owns 11,910 shares of the company’s stock, valued at approximately $1,160,510.40. This trade represents a 17.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Kathleen M. Keene sold 4,629 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $89.99, for a total value of $416,563.71. Following the sale, the insider now owns 3,829 shares of the company’s stock, valued at approximately $344,571.71. This represents a 54.73 % decrease in their position. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by company insiders.

Ingersoll Rand Stock Up 0.9 %

Shares of Ingersoll Rand stock opened at $104.00 on Friday. The firm has a market cap of $41.91 billion, a price-to-earnings ratio of 50.73, a PEG ratio of 3.88 and a beta of 1.42. The stock’s 50-day moving average is $99.20 and its 200 day moving average is $94.65. 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 Inc. has a one year low of $69.46 and a one year high of $105.63.

Ingersoll Rand Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th will be given a dividend of $0.02 per share. 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 (DPR) is 3.90%.

Analyst Upgrades and Downgrades

Several research firms have commented on IR. Evercore ISI dropped their target price on 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. UBS Group initiated coverage on shares of Ingersoll Rand in a report on Wednesday, November 13th. They issued a “buy” rating and a $124.00 price objective for the company. Wells Fargo & Company boosted their target price 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. Cfra boosted their price objective on shares of Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. Finally, Stifel Nicolaus lowered Ingersoll Rand from a “buy” rating to a “hold” rating and lowered their target price for the stock from $112.00 to $107.00 in a research report on Monday, November 18th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price 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.