Ingersoll Rand Inc. $IR Stock Holdings Lessened by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans cut its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 85.6% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,673 shares of the industrial products company’s stock after selling 163,858 shares during the period. Thrivent Financial for Lutherans’ holdings in Ingersoll Rand were worth $2,286,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. National Pension Service boosted its stake in shares of Ingersoll Rand by 2.7% during the 3rd quarter. National Pension Service now owns 617,981 shares of the industrial products company’s stock valued at $51,058,000 after buying an additional 16,084 shares during the period. Arizona State Retirement System raised its holdings in shares of Ingersoll Rand by 0.9% during the third quarter. Arizona State Retirement System now owns 118,911 shares of the industrial products company’s stock worth $9,824,000 after acquiring an additional 1,097 shares in the last quarter. AE Wealth Management LLC raised its holdings in shares of Ingersoll Rand by 13.0% during the third quarter. AE Wealth Management LLC now owns 3,294 shares of the industrial products company’s stock worth $272,000 after acquiring an additional 378 shares in the last quarter. Activest Wealth Management boosted its position in Ingersoll Rand by 18,100.0% during the third quarter. Activest Wealth Management now owns 1,092 shares of the industrial products company’s stock valued at $90,000 after purchasing an additional 1,086 shares during the last quarter. Finally, New York State Common Retirement Fund grew its stake in Ingersoll Rand by 8.0% in the third quarter. New York State Common Retirement Fund now owns 273,469 shares of the industrial products company’s stock valued at $22,594,000 after purchasing an additional 20,281 shares in the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Michael J. Scheske sold 1,477 shares of the company’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $80.63, for a total transaction of $119,090.51. Following the completion of the sale, the chief accounting officer directly owned 12,153 shares of the company’s stock, valued at approximately $979,896.39. This represents a 10.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Vicente Reynal sold 90,281 shares of the firm’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $97.92, for a total transaction of $8,840,315.52. Following the completion of the transaction, the insider owned 193,186 shares in the company, valued at $18,916,773.12. The trade was a 31.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 292,477 shares of company stock valued at $26,703,912 over the last 90 days. 0.68% of the stock is owned by corporate insiders.

Ingersoll Rand Stock Down 0.6%

IR opened at $97.80 on Wednesday. The firm has a market cap of $38.64 billion, a P/E ratio of 72.44, a price-to-earnings-growth ratio of 6.11 and a beta of 1.32. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.51 and a current ratio of 2.16. The business has a 50 day moving average price of $84.79 and a 200 day moving average price of $81.18. Ingersoll Rand Inc. has a twelve month low of $65.61 and a twelve month high of $99.54.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on IR. Robert W. Baird cut their price target on Ingersoll Rand from $103.00 to $100.00 and set an “outperform” rating for the company in a research note on Monday, November 3rd. Stifel Nicolaus increased their price objective on Ingersoll Rand from $81.00 to $87.00 and gave the stock a “hold” rating in a report on Friday, January 23rd. Wells Fargo & Company raised their price objective on shares of Ingersoll Rand from $87.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, January 7th. Zacks Research raised shares of Ingersoll Rand from a “strong sell” rating to a “hold” rating in a research report on Friday, December 12th. Finally, Citigroup increased their price target on shares of Ingersoll Rand from $94.00 to $98.00 and gave the stock a “buy” rating in a research note on Monday, January 12th. Four investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Ingersoll Rand presently has a consensus rating of “Hold” and an average target price of $92.13.

Ingersoll Rand Company Profile

Ingersoll Rand is a diversified industrial company that designs, manufactures and services a wide range of equipment and technologies for commercial, industrial and OEM customers. Its product portfolio includes air compressors and compressed air systems, pneumatic and cordless power tools, material handling and lifting equipment, fluid transfer and pumping solutions, and associated aftermarket parts and service offerings. The company’s products support applications across manufacturing, construction, transportation, oil and gas, mining and general industrial markets.

Ingersoll Rand sells through a combination of direct sales, distributor networks and service channels, delivering both capital equipment and recurring aftermarket revenue from parts, maintenance and service contracts.