Insider Selling: Ingersoll Rand Inc. (NYSE:IR) CAO Sells $246,620.64 in Stock

Ingersoll Rand Inc. (NYSE:IR) CAO Michael J. Scheske sold 2,531 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $97.44, for a total transaction of $246,620.64. Following the sale, the chief accounting officer now owns 11,910 shares of the company’s stock, valued at $1,160,510.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Ingersoll Rand Stock Performance

Shares of Ingersoll Rand stock opened at $102.61 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.36 and a quick ratio of 1.71. The firm has a market cap of $41.35 billion, a price-to-earnings ratio of 50.05, a price-to-earnings-growth ratio of 3.90 and a beta of 1.42. Ingersoll Rand Inc. has a one year low of $66.30 and a one year high of $103.96. The stock’s 50-day moving average is $96.29 and its 200-day moving average is $93.84.

Ingersoll Rand Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.08%. The ex-dividend date is Thursday, November 14th. Ingersoll Rand’s dividend payout ratio (DPR) is currently 3.90%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Robert W. Baird cut their target price on shares of Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. 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 research note on Monday, October 7th. Morgan Stanley assumed coverage on Ingersoll Rand in a report on Friday, September 6th. They set an “equal weight” rating and a $97.00 price objective on the stock. Wolfe Research upgraded Ingersoll Rand to a “hold” rating in a research report on Friday, September 20th. Finally, Cfra raised their price target on Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a report on Friday, October 4th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Ingersoll Rand currently has an average rating of “Moderate Buy” and a consensus target price of $101.67.

Institutional Trading of Ingersoll Rand

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Ridgewood Investments LLC acquired a new stake in Ingersoll Rand in the 2nd quarter valued at $25,000. Headlands Technologies LLC bought a new position in Ingersoll Rand in the first quarter valued at approximately $28,000. Ashton Thomas Securities LLC acquired a new position in shares of Ingersoll Rand during the 3rd quarter worth approximately $34,000. ESL Trust Services LLC bought a new stake in shares of Ingersoll Rand during the 1st quarter worth approximately $35,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Ingersoll Rand by 38.5% in the first quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company’s stock valued at $42,000 after buying an additional 126 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors and hedge funds.

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.