Fifth Third Bancorp Sells 111 Shares of Ingersoll Rand Inc. (NYSE:IR)

Fifth Third Bancorp lessened its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 0.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,042 shares of the industrial products company’s stock after selling 111 shares during the quarter. Fifth Third Bancorp’s holdings in Ingersoll Rand were worth $1,361,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Public Sector Pension Investment Board raised its holdings in shares of Ingersoll Rand by 73.4% in the 2nd quarter. Public Sector Pension Investment Board now owns 15,470 shares of the industrial products company’s stock worth $1,405,000 after acquiring an additional 6,549 shares during the last quarter. Creative Planning raised its stake in shares of Ingersoll Rand by 9.0% in the second quarter. Creative Planning now owns 66,160 shares of the industrial products company’s stock worth $6,010,000 after purchasing an additional 5,458 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Ingersoll Rand by 2.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 16,871 shares of the industrial products company’s stock valued at $1,533,000 after purchasing an additional 382 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its position in shares of Ingersoll Rand by 15.9% during the second quarter. B. Riley Wealth Advisors Inc. now owns 3,606 shares of the industrial products company’s stock valued at $328,000 after buying an additional 494 shares during the last quarter. Finally, Kimelman & Baird LLC purchased a new stake in Ingersoll Rand in the 2nd quarter valued at $57,000. Institutional investors and hedge funds own 95.27% of the company’s stock.

Ingersoll Rand Price Performance

Shares of NYSE:IR opened at $90.88 on Wednesday. The company has a 50-day moving average price of $96.13 and a two-hundred day moving average price of $95.78. Ingersoll Rand Inc. has a twelve month low of $79.04 and a twelve month high of $106.03. 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 firm has a market capitalization of $36.63 billion, a PE ratio of 44.33, a P/E/G ratio of 3.73 and a beta of 1.44.

Analyst Ratings Changes

Several research firms have recently issued reports on IR. Barclays reduced their target price on shares of Ingersoll Rand from $120.00 to $115.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Stifel Nicolaus reduced their price objective on shares of Ingersoll Rand from $107.00 to $100.00 and set a “hold” rating for the company in a research report on Friday, January 24th. Robert W. Baird dropped their target price on shares of Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. UBS Group initiated coverage on Ingersoll Rand in a report on Wednesday, November 13th. They issued a “buy” rating and a $124.00 target price for the company. Finally, The Goldman Sachs Group lifted their price target on Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Ingersoll Rand presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.92.

Insider Activity at Ingersoll Rand

In other 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 value 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.68% of the stock is owned by company insiders.

Ingersoll Rand Company 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.