First Horizon Advisors Inc. Sells 165 Shares of Ingersoll Rand Inc. (NYSE:IR)

by · The Markets Daily

First Horizon Advisors Inc. trimmed its holdings in shares of Ingersoll Rand Inc. (NYSE:IR – Free Report) by 6.3% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,450 shares of the industrial products company’s stock after selling 165 shares during the quarter. First Horizon Advisors Inc.’s holdings in Ingersoll Rand were worth $240,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of IR. Ridgewood Investments LLC bought a new stake in shares of Ingersoll Rand during the second quarter worth $25,000. Ashton Thomas Securities LLC acquired a new position in Ingersoll Rand in the 3rd quarter worth $34,000. EverSource Wealth Advisors LLC increased its holdings in Ingersoll Rand by 38.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 126 shares in the last quarter. UMB Bank n.a. raised its stake in shares of Ingersoll Rand by 196.8% in the 2nd 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 in the third quarter valued at about $42,000. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on IR shares. Wolfe Research raised Ingersoll Rand to a “hold” rating in a research report on Friday, September 20th. Wells Fargo & Company lifted their price objective on shares of Ingersoll Rand from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Stifel Nicolaus lowered shares of Ingersoll Rand from a “buy” rating to a “hold” rating and cut their price objective for the stock from $112.00 to $107.00 in a research report on Monday, November 18th. Evercore ISI decreased their target price on shares of Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Finally, UBS Group assumed coverage on shares of Ingersoll Rand in a research report 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 assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $103.83.

View Our Latest Report on IR

Ingersoll Rand Stock Up 0.9 %

Shares of IR stock opened at $104.00 on Friday. Ingersoll Rand Inc. has a 52-week low of $69.46 and a 52-week high of $105.63. The stock 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. The firm’s 50-day moving average is $99.20 and its 200-day moving average is $94.65. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.36.

Ingersoll Rand Dividend Announcement

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

Insider Activity

In other Ingersoll Rand news, CAO Michael J. Scheske sold 2,531 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $97.44, for a total transaction of $246,620.64. Following the completion of the sale, the chief accounting officer now directly owns 11,910 shares in the company, valued at $1,160,510.40. This trade represents a 17.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Kathleen M. Keene sold 4,629 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $89.99, for a total value of $416,563.71. Following the sale, the insider now owns 3,829 shares of the company’s stock, valued at approximately $344,571.71. This represents a 54.73 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.

Ingersoll Rand Profile

(Free Report)

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.

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