Ingersoll Rand Inc. (NYSE:IR) Stock Position Decreased by Commerce Bank

Commerce Bank lowered its position in Ingersoll Rand Inc. (NYSE:IR) by 1.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 41,549 shares of the industrial products company’s stock after selling 440 shares during the period. Commerce Bank’s holdings in Ingersoll Rand were worth $4,078,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in IR. Ridgewood Investments LLC acquired a new stake in shares of Ingersoll Rand in the second quarter worth about $25,000. Ashton Thomas Securities LLC bought a new stake in Ingersoll Rand during the third quarter worth approximately $34,000. EverSource Wealth Advisors LLC grew its holdings in Ingersoll Rand by 38.5% during the first quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 126 shares during the last quarter. UMB Bank n.a. raised its position in shares of Ingersoll Rand by 196.8% in the second quarter. UMB Bank n.a. now owns 466 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 309 shares during the period. Finally, Eastern Bank bought a new stake in shares of Ingersoll Rand during the 3rd quarter worth $42,000. Institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Stock Performance

NYSE IR opened at $104.00 on Friday. Ingersoll Rand Inc. has a 1-year low of $69.46 and a 1-year high of $105.63. The company has a 50 day moving average of $99.20 and a 200-day moving average of $94.65. The company has a current ratio of 2.36, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. 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.

Ingersoll Rand Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th will be issued 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 payout ratio is presently 3.90%.

Insider Activity

In related news, insider Kathleen M. Keene sold 4,629 shares of the firm’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 completion of the sale, the insider now owns 3,829 shares of the company’s stock, valued at $344,571.71. This trade represents a 54.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Michael J. Scheske sold 2,531 shares of the company’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 transaction, the chief accounting officer now directly owns 11,910 shares in the company, valued at approximately $1,160,510.40. This represents a 17.53 % decrease in their position. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Morgan Stanley started coverage on Ingersoll Rand in a research report on Friday, September 6th. They issued an “equal weight” rating and a $97.00 price target on the stock. Wells Fargo & Company upped their price target on Ingersoll Rand from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Robert W. Baird decreased their price objective on Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. Cfra boosted their price objective on Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Finally, UBS Group assumed coverage on shares of Ingersoll Rand in a research note on Wednesday, November 13th. They set a “buy” rating and a $124.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus 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.