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

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

Other institutional investors have also bought and sold shares of the company. Vontobel Holding Ltd. increased its stake in Ingersoll Rand by 2.1% during the 3rd quarter. Vontobel Holding Ltd. now owns 6,242 shares of the industrial products company’s stock valued at $516,000 after buying an additional 130 shares during the period. Whittier Trust Co. increased its stake in shares of Ingersoll Rand by 8.5% during the third quarter. Whittier Trust Co. now owns 1,668 shares of the industrial products company’s stock valued at $140,000 after acquiring an additional 131 shares during the period. Parkside Financial Bank & Trust raised its holdings in Ingersoll Rand by 14.2% during the second quarter. Parkside Financial Bank & Trust now owns 1,206 shares of the industrial products company’s stock worth $100,000 after purchasing an additional 150 shares in the last quarter. AE Wealth Management LLC lifted its position in Ingersoll Rand by 5.5% in the second quarter. AE Wealth Management LLC now owns 2,916 shares of the industrial products company’s stock worth $243,000 after purchasing an additional 151 shares during the period. Finally, Golden State Equity Partners boosted its stake in Ingersoll Rand by 5.1% during the 3rd quarter. Golden State Equity Partners now owns 3,212 shares of the industrial products company’s stock valued at $265,000 after purchasing an additional 155 shares in the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.

Ingersoll Rand Price Performance

IR stock opened at $97.80 on Wednesday. Ingersoll Rand Inc. has a one year low of $65.61 and a one year high of $99.54. The firm has a 50-day moving average of $84.79 and a two-hundred day moving average of $81.18. The firm has a market capitalization of $38.64 billion, a PE ratio of 72.44, a P/E/G ratio of 6.11 and a beta of 1.32. The company has a current ratio of 2.16, a quick ratio of 1.51 and a debt-to-equity ratio of 0.47.

Insider Buying and Selling

In other Ingersoll Rand news, insider Vicente Reynal sold 191,000 shares of Ingersoll Rand stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $88.12, for a total transaction of $16,830,920.00. Following the transaction, the insider directly owned 193,186 shares in the company, valued at approximately $17,023,550.32. The trade was a 49.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Michael J. Scheske sold 1,477 shares of the stock in a transaction on Monday, December 1st. The shares were sold at an average price of $80.63, for a total value of $119,090.51. Following the completion of the sale, the chief accounting officer owned 12,153 shares of the company’s stock, valued at $979,896.39. The trade was a 10.84% decrease in their position. 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 ninety days. Company insiders own 0.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on IR. Wells Fargo & Company boosted their price objective on Ingersoll Rand from $87.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Ingersoll Rand in a research report on Monday, December 29th. Zacks Research raised shares of Ingersoll Rand from a “strong sell” rating to a “hold” rating in a report on Friday, December 12th. Robert W. Baird lowered their price objective on shares of Ingersoll Rand from $103.00 to $100.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. Finally, Citigroup increased their target price on shares of Ingersoll Rand from $94.00 to $98.00 and gave the company a “buy” rating in a research note on Monday, January 12th. Four research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target 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.