CCLA Investment Management Sells 46,705 Shares of Ingersoll Rand Inc. (NYSE:IR)

CCLA Investment Management cut its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 6.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 720,231 shares of the industrial products company’s stock after selling 46,705 shares during the period. CCLA Investment Management owned approximately 0.18% of Ingersoll Rand worth $65,159,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Ashton Thomas Securities LLC acquired a new position in shares of Ingersoll Rand during the 3rd quarter worth about $34,000. Eastern Bank acquired a new position in Ingersoll Rand during the third quarter valued at approximately $42,000. Kimelman & Baird LLC bought a new stake in Ingersoll Rand in the second quarter valued at approximately $57,000. Versant Capital Management Inc increased its stake in Ingersoll Rand by 654.4% in the fourth quarter. Versant Capital Management Inc now owns 679 shares of the industrial products company’s stock valued at $61,000 after purchasing an additional 589 shares in the last quarter. Finally, Princeton Global Asset Management LLC bought a new position in shares of Ingersoll Rand during the third quarter worth $65,000. Institutional investors own 95.27% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on IR. Cfra boosted their target price on Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a research note on Friday, October 4th. UBS Group assumed coverage on Ingersoll Rand in a research report on Wednesday, November 13th. They issued a “buy” rating and a $124.00 price objective for the company. Wolfe Research upgraded shares of Ingersoll Rand to a “hold” rating in a report on Friday, September 20th. Barclays cut their price target on shares of Ingersoll Rand from $120.00 to $115.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Finally, Stifel Nicolaus downgraded shares of Ingersoll Rand from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $112.00 to $107.00 in a research report on Monday, November 18th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Ingersoll Rand has a consensus rating of “Moderate Buy” and an average price target of $106.50.

Insider Transactions at Ingersoll Rand

In other news, CAO Michael J. Scheske sold 2,531 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 11,910 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. 0.68% of the stock is owned by company insiders.

Ingersoll Rand Trading Up 1.4 %

NYSE IR opened at $89.40 on Wednesday. The company has a market cap of $36.03 billion, a PE ratio of 43.61, a PEG ratio of 3.84 and a beta of 1.44. Ingersoll Rand Inc. has a 12 month low of $76.64 and a 12 month high of $106.03. The stock has a 50 day moving average of $98.07 and a 200-day moving average of $95.74. The company has a current ratio of 2.36, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46.

Ingersoll Rand Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th were given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date was Thursday, November 14th. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.90%.

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.