Cambridge Investment Research Advisors Inc. Sells 1,791 Shares of Ingersoll Rand Inc. (NYSE:IR)

Cambridge Investment Research Advisors Inc. decreased its position in Ingersoll Rand Inc. (NYSE:IR) by 22.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,118 shares of the industrial products company’s stock after selling 1,791 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Ingersoll Rand were worth $308,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. AdvisorNet Financial Inc bought a new position in shares of Ingersoll Rand in the third quarter valued at approximately $27,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Ingersoll Rand during the third quarter worth $27,000. NEXT Financial Group Inc boosted its stake in Ingersoll Rand by 54.3% during the third quarter. NEXT Financial Group Inc now owns 608 shares of the industrial products company’s stock worth $31,000 after buying an additional 214 shares in the last quarter. Advisory Services Network LLC acquired a new stake in Ingersoll Rand during the second quarter worth $39,000. Finally, Maverick Capital Ltd. bought a new position in Ingersoll Rand during the 2nd quarter worth $40,000. 95.86% of the stock is currently owned by institutional investors.

Several research analysts have weighed in on the company. Morgan Stanley increased their price objective on Ingersoll Rand from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 15th. Jefferies Financial Group reissued a “buy” rating and set a $69.00 target price on shares of Ingersoll Rand in a report on Friday, November 19th. Zacks Investment Research lowered Ingersoll Rand from a “strong-buy” rating to a “hold” rating and set a $54.00 target price on the stock. in a report on Thursday, September 30th. Wells Fargo & Company raised Ingersoll Rand from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $58.00 to $68.00 in a report on Friday, November 19th. Finally, Vertical Research assumed coverage on Ingersoll Rand in a research note on Friday, October 8th. They issued a “hold” rating and a $54.00 price objective on the stock. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Ingersoll Rand has a consensus rating of “Buy” and a consensus target price of $65.57.

Shares of IR stock opened at $59.36 on Friday. The business’s 50-day moving average price is $59.61 and its 200-day moving average price is $54.29. Ingersoll Rand Inc. has a 12 month low of $40.64 and a 12 month high of $62.64. The firm has a market capitalization of $24.19 billion, a price-to-earnings ratio of 59.36 and a beta of 1.47. The company has a current ratio of 2.47, a quick ratio of 1.94 and a debt-to-equity ratio of 0.39.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings results on Wednesday, November 3rd. The industrial products company reported $0.57 EPS for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.10. Ingersoll Rand had a return on equity of 7.11% and a net margin of 7.68%. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same period last year, the firm posted $0.07 earnings per share. The business’s revenue for the quarter was up 19.1% on a year-over-year basis. On average, sell-side analysts predict that Ingersoll Rand Inc. will post 1.85 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 17th. Stockholders of record on Wednesday, November 10th were given a dividend of $0.02 per share. The ex-dividend date was Tuesday, November 9th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.13%. Ingersoll Rand’s dividend payout ratio (DPR) is 8.00%.

In other news, insider Sia Abbaszadeh sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 15th. The stock was sold at an average price of $58.59, for a total transaction of $292,950.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Michael J. Scheske sold 6,972 shares of Ingersoll Rand stock in a transaction that occurred on Thursday, December 9th. The stock was sold at an average price of $59.98, for a total value of $418,180.56. The disclosure for this sale can be found here. 0.69% of the stock is owned by company insiders.

Ingersoll Rand Company Profile

Ingersoll Rand, Inc provides a broad range of mission critical air, fluid, energy, specialty vehicle and medical technologies, providing services and solutions to increase industrial productivity and efficiency. It operates through the following segments: Industrial Technologies and Services, Precision and Science Technologies, High Pressure Solutions, and Specialty Vehicle Technologies.

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Institutional Ownership by Quarter for Ingersoll Rand (NYSE:IR)

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