Douglas Lane & Associates LLC Sells 30,277 Shares of Ingersoll Rand Inc. (NYSE:IR)

Douglas Lane & Associates LLC decreased its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 3.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 882,126 shares of the industrial products company’s stock after selling 30,277 shares during the quarter. Ingersoll Rand accounts for approximately 1.1% of Douglas Lane & Associates LLC’s portfolio, making the stock its 24th largest position. Douglas Lane & Associates LLC’s holdings in Ingersoll Rand were worth $79,797,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new position in Ingersoll Rand during the third quarter valued at $34,000. Eastern Bank purchased a new stake in shares of Ingersoll Rand in the third quarter worth about $42,000. Kimelman & Baird LLC purchased a new stake in shares of Ingersoll Rand during the 2nd quarter valued at about $57,000. Versant Capital Management Inc boosted its stake in shares of Ingersoll Rand by 654.4% during the 4th quarter. Versant Capital Management Inc now owns 679 shares of the industrial products company’s stock worth $61,000 after purchasing an additional 589 shares during the period. Finally, Princeton Global Asset Management LLC bought a new position in Ingersoll Rand in the 3rd quarter valued at $65,000. 95.27% of the stock is owned by hedge funds and other institutional investors.

Ingersoll Rand Trading Down 0.1 %

Shares of NYSE:IR traded down $0.07 during midday trading on Wednesday, reaching $89.09. The company had a trading volume of 1,201,976 shares, compared to its average volume of 2,294,877. Ingersoll Rand Inc. has a 1-year low of $74.58 and a 1-year high of $106.03. The company has a fifty day simple moving average of $98.80 and a two-hundred day simple moving average of $95.83. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.36. The firm has a market cap of $35.90 billion, a price-to-earnings ratio of 43.46, a price-to-earnings-growth ratio of 3.84 and a beta of 1.44.

Ingersoll Rand Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th were paid a dividend of $0.02 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.90%.

Insider Activity

In other Ingersoll Rand news, CAO Michael J. Scheske sold 2,531 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were 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 in the company, valued at $1,160,510.40. The trade was a 17.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on IR shares. Stifel Nicolaus cut Ingersoll Rand from a “buy” rating to a “hold” rating and lowered their target price for the stock from $112.00 to $107.00 in a report on Monday, November 18th. Robert W. Baird cut their price objective on Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. Barclays lowered their target price on shares of Ingersoll Rand from $120.00 to $115.00 and set an “overweight” rating on the stock in a research note on Wednesday. UBS Group began coverage on shares of Ingersoll Rand in a report on Wednesday, November 13th. They issued a “buy” rating and a $124.00 price objective on the stock. Finally, Wolfe Research upgraded Ingersoll Rand to a “hold” rating in a research note on Friday, September 20th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.83.

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.