Cerity Partners LLC Has $26.71 Million Stake in Ingersoll Rand Inc. (NYSE:IR)

Cerity Partners LLC lessened its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 18.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 272,092 shares of the industrial products company’s stock after selling 62,709 shares during the period. Cerity Partners LLC owned about 0.07% of Ingersoll Rand worth $26,709,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ridgewood Investments LLC bought a new stake in Ingersoll Rand during the second quarter worth about $25,000. Ashton Thomas Securities LLC acquired a new stake in shares of Ingersoll Rand during the 3rd quarter worth approximately $34,000. EverSource Wealth Advisors LLC boosted its position in shares of 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 acquiring an additional 126 shares in the last quarter. UMB Bank n.a. increased its stake in 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 acquiring an additional 309 shares during the last quarter. Finally, Eastern Bank acquired a new position in Ingersoll Rand during the third quarter valued at approximately $42,000. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on IR. Barclays lifted their price target on Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Cfra boosted their target price on Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. Wolfe Research upgraded shares of Ingersoll Rand to a “hold” rating in a research note on Friday, September 20th. Wells Fargo & Company upped their price objective on shares of Ingersoll Rand from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Finally, UBS Group began coverage on shares of Ingersoll Rand in a research report on Wednesday, November 13th. They issued a “buy” rating and a $124.00 target price on the stock. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $103.83.

Insider Activity at Ingersoll Rand

In other news, CAO Michael J. Scheske sold 2,531 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $1,160,510.40. The trade was a 17.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Kathleen M. Keene sold 4,629 shares of the firm’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 directly owns 3,829 shares of the company’s stock, valued at $344,571.71. This represents a 54.73 % decrease in their position. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by company insiders.

Ingersoll Rand Stock Up 0.9 %

Shares of NYSE:IR opened at $104.00 on Monday. The firm has a market cap of $41.91 billion, a P/E ratio of 50.73, a P/E/G ratio of 3.91 and a beta of 1.42. Ingersoll Rand Inc. has a 12-month low of $69.46 and a 12-month high of $105.63. The business has a fifty day simple moving average of $99.20 and a 200 day simple moving average of $94.71. The company has a quick ratio of 1.71, a current ratio of 2.36 and a debt-to-equity ratio of 0.46.

Ingersoll Rand Announces Dividend

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

Ingersoll Rand Company 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.