New York Life Investment Management LLC Decreases Position in Ingersoll Rand Inc. $IR

New York Life Investment Management LLC reduced its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 11.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,174 shares of the industrial products company’s stock after selling 7,155 shares during the period. New York Life Investment Management LLC’s holdings in Ingersoll Rand were worth $4,393,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in IR. NewSquare Capital LLC increased its position in shares of Ingersoll Rand by 150.7% during the second quarter. NewSquare Capital LLC now owns 341 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 205 shares in the last quarter. Heartwood Wealth Advisors LLC acquired a new stake in Ingersoll Rand during the 3rd quarter worth $36,000. Grey Fox Wealth Advisors LLC purchased a new stake in shares of Ingersoll Rand during the third quarter worth $36,000. Westside Investment Management Inc. raised its position in shares of Ingersoll Rand by 100.0% in the third quarter. Westside Investment Management Inc. now owns 464 shares of the industrial products company’s stock valued at $39,000 after buying an additional 232 shares during the last quarter. Finally, Gladwyn Financial Advisors Inc. purchased a new position in shares of Ingersoll Rand in the second quarter worth about $42,000. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Stock Down 1.1%

Shares of IR opened at $96.75 on Thursday. The company’s 50-day moving average price is $85.13 and its 200 day moving average price is $81.29. Ingersoll Rand Inc. has a 12-month low of $65.61 and a 12-month high of $100.00. The company has a current ratio of 2.16, a quick ratio of 1.51 and a debt-to-equity ratio of 0.47. The firm has a market cap of $38.22 billion, a P/E ratio of 71.66, a price-to-earnings-growth ratio of 6.07 and a beta of 1.32.

Ingersoll Rand Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Wednesday, March 4th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.1%. Ingersoll Rand’s dividend payout ratio (DPR) is presently 5.93%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on IR shares. Wells Fargo & Company upped their price objective on shares of Ingersoll Rand from $87.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, January 7th. Weiss Ratings restated a “hold (c)” rating on shares of Ingersoll Rand in a research report on Monday, December 29th. Stifel Nicolaus increased their price target on Ingersoll Rand from $81.00 to $87.00 and gave the company a “hold” rating in a report on Friday, January 23rd. Citigroup boosted their price objective on Ingersoll Rand from $94.00 to $98.00 and gave the stock a “buy” rating in a research note on Monday, January 12th. Finally, Zacks Research raised Ingersoll Rand from a “strong sell” rating to a “hold” rating in a research note on Friday, December 12th. Four equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $92.13.

Insider Activity at Ingersoll Rand

In related news, insider Vicente Reynal sold 90,281 shares of Ingersoll Rand stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $97.92, for a total value of $8,840,315.52. Following the completion of the sale, the insider owned 193,186 shares in the company, valued at approximately $18,916,773.12. This trade represents a 31.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Michael J. Scheske sold 1,477 shares of the company’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $80.63, for a total value of $119,090.51. Following the transaction, the chief accounting officer owned 12,153 shares in the company, valued at $979,896.39. This trade represents a 10.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 292,477 shares of company stock valued at $26,703,912 in the last quarter. 0.59% of the stock is owned by insiders.

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.