Ingersoll Rand Inc. (NYSE:IR) Shares Sold by Wesbanco Bank Inc.

Wesbanco Bank Inc. trimmed its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 4.7% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 13,214 shares of the industrial products company’s stock after selling 658 shares during the quarter. Wesbanco Bank Inc.’s holdings in Ingersoll Rand were worth $1,200,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Greenleaf Trust grew its holdings in Ingersoll Rand by 2.0% during the first quarter. Greenleaf Trust now owns 5,921 shares of the industrial products company’s stock worth $562,000 after acquiring an additional 118 shares during the period. Spire Wealth Management increased its holdings in shares of Ingersoll Rand by 8.5% during the 1st quarter. Spire Wealth Management now owns 1,603 shares of the industrial products company’s stock valued at $152,000 after purchasing an additional 126 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Ingersoll Rand by 38.5% in the 1st 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 period. Geneos Wealth Management Inc. boosted its holdings in Ingersoll Rand by 28.4% during the first quarter. Geneos Wealth Management Inc. now owns 637 shares of the industrial products company’s stock worth $60,000 after buying an additional 141 shares in the last quarter. Finally, Pitcairn Co. boosted its stake in shares of Ingersoll Rand by 4.1% during the 1st quarter. Pitcairn Co. now owns 3,829 shares of the industrial products company’s stock worth $364,000 after acquiring an additional 152 shares in the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on IR. Stifel Nicolaus increased their price target on Ingersoll Rand from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Wells Fargo & Company dropped their price target on shares of Ingersoll Rand from $102.00 to $100.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Robert W. Baird increased their price objective on shares of Ingersoll Rand from $109.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. StockNews.com cut shares of Ingersoll Rand from a “buy” rating to a “hold” rating in a research note on Saturday, May 4th. Finally, Jefferies Financial Group initiated coverage on Ingersoll Rand in a report on Friday, June 21st. They set a “buy” rating and a $110.00 target price for the company. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Ingersoll Rand presently has an average rating of “Moderate Buy” and an average price target of $100.36.

Insider Buying and Selling at Ingersoll Rand

In other news, insider Vicente Reynal sold 198,486 shares of the firm’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $88.11, for a total value of $17,488,601.46. Following the sale, the insider now directly owns 100,367 shares in the company, valued at approximately $8,843,336.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Vicente Reynal sold 198,486 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $88.11, for a total value of $17,488,601.46. Following the completion of the transaction, the insider now directly owns 100,367 shares of the company’s stock, valued at $8,843,336.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Andrew R. Schiesl sold 22,369 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $92.17, for a total transaction of $2,061,750.73. Following the sale, the insider now directly owns 30,846 shares in the company, valued at approximately $2,843,075.82. The disclosure for this sale can be found here. 0.68% of the stock is owned by corporate insiders.

Ingersoll Rand Stock Down 0.3 %

Shares of IR opened at $90.17 on Friday. The company’s 50-day simple moving average is $93.24 and its 200-day simple moving average is $91.14. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.71 and a current ratio of 2.18. Ingersoll Rand Inc. has a 1 year low of $59.20 and a 1 year high of $101.30. The stock has a market capitalization of $36.38 billion, a PE ratio of 45.01, a P/E/G ratio of 2.68 and a beta of 1.45.

Ingersoll Rand Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 15th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.98%.

Ingersoll Rand announced that its board has authorized a stock buyback plan on Thursday, April 25th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the industrial products company to purchase up to 2.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Ingersoll Rand 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.