KBC Group NV Sells 926 Shares of Ingersoll Rand Inc. (NYSE:IR)

KBC Group NV trimmed its position in Ingersoll Rand Inc. (NYSE:IR) by 1.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 73,692 shares of the industrial products company’s stock after selling 926 shares during the quarter. KBC Group NV’s holdings in Ingersoll Rand were worth $7,233,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Wealthspire Advisors LLC lifted its holdings in shares of Ingersoll Rand by 5.5% in the 2nd quarter. Wealthspire Advisors LLC now owns 2,268 shares of the industrial products company’s stock worth $206,000 after purchasing an additional 119 shares in the last quarter. Kanawha Capital Management LLC lifted its stake in shares of Ingersoll Rand by 2.4% in the third quarter. Kanawha Capital Management LLC now owns 5,096 shares of the industrial products company’s stock valued at $500,000 after buying an additional 119 shares in the last quarter. Opal Wealth Advisors LLC grew its holdings in shares of Ingersoll Rand by 6.0% during the third quarter. Opal Wealth Advisors LLC now owns 2,145 shares of the industrial products company’s stock valued at $211,000 after buying an additional 121 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Ingersoll Rand by 38.5% during the first 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. Finally, Resonant Capital Advisors LLC lifted its position in Ingersoll Rand by 4.2% in the 2nd quarter. Resonant Capital Advisors LLC now owns 3,300 shares of the industrial products company’s stock valued at $300,000 after acquiring an additional 133 shares in the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.

Insider Buying and Selling at Ingersoll Rand

In related news, insider Elizabeth Meloy Hepding sold 7,500 shares of Ingersoll Rand stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $91.42, for a total transaction of $685,650.00. Following the completion of the sale, the insider now owns 6,559 shares of the company’s stock, valued at approximately $599,623.78. This trade represents a 53.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kathleen M. Keene sold 4,629 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $89.99, for a total value of $416,563.71. Following the completion of the transaction, the insider now owns 3,829 shares in the company, valued at $344,571.71. This represents a 54.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,660 shares of company stock valued at $1,348,834 in the last three months. Company insiders own 0.68% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on IR shares. Morgan Stanley initiated coverage on Ingersoll Rand in a report on Friday, September 6th. They set an “equal weight” rating and a $97.00 price objective for the company. Barclays raised their price objective on Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Robert W. Baird reduced their target price on shares of Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Cfra raised their price target on shares of Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Finally, UBS Group assumed coverage on shares of Ingersoll Rand in a research report on Wednesday. They issued a “buy” rating and a $124.00 price objective for the company. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Ingersoll Rand presently has an average rating of “Moderate Buy” and an average price target of $104.25.

Ingersoll Rand Stock Performance

NYSE IR opened at $102.43 on Friday. Ingersoll Rand Inc. has a 12-month low of $69.46 and a 12-month high of $105.63. The company’s 50 day moving average is $97.83 and its 200-day moving average is $94.23. The company has a quick ratio of 1.71, a current ratio of 2.36 and a debt-to-equity ratio of 0.46. The firm has a market cap of $41.28 billion, a P/E ratio of 49.97, a price-to-earnings-growth ratio of 3.96 and a beta of 1.42.

Ingersoll Rand Dividend Announcement

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

Ingersoll Rand 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.