State of New Jersey Common Pension Fund D lessened its stake in Ingersoll Rand Inc. (NYSE:IR – Free Report) by 4.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 219,812 shares of the industrial products company’s stock after selling 10,748 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Ingersoll Rand were worth $14,006,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. OFI Invest Asset Management bought a new position in Ingersoll Rand in the 3rd quarter worth approximately $25,000. Pacifica Partners Inc. bought a new stake in shares of Ingersoll Rand during the 3rd quarter valued at $28,000. Lazard Asset Management LLC raised its position in shares of Ingersoll Rand by 1,566.7% during the 2nd quarter. Lazard Asset Management LLC now owns 450 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 423 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Ingersoll Rand during the 3rd quarter valued at $32,000. Finally, Clearstead Advisors LLC raised its position in shares of Ingersoll Rand by 348.2% during the 3rd quarter. Clearstead Advisors LLC now owns 493 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 383 shares during the last quarter. Institutional investors own 94.54% of the company’s stock.
Insider Buying and Selling
In related news, insider Andrew R. Schiesl sold 13,000 shares of the company’s stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $71.89, for a total value of $934,570.00. Following the completion of the transaction, the insider now directly owns 45,263 shares of the company’s stock, valued at approximately $3,253,957.07. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.83% of the company’s stock.
Ingersoll Rand Price Performance
Analysts Set New Price Targets
Several brokerages have commented on IR. Cfra upped their target price on shares of Ingersoll Rand from $66.00 to $68.00 and gave the company a “hold” rating in a research report on Thursday, November 2nd. Stifel Nicolaus upgraded shares of Ingersoll Rand from a “hold” rating to a “buy” rating and set a $73.00 target price for the company in a research report on Tuesday, October 24th. Citigroup upped their target price on shares of Ingersoll Rand from $79.00 to $86.00 and gave the company a “buy” rating in a research report on Monday, December 11th. UBS Group boosted their price target on shares of Ingersoll Rand from $78.00 to $93.00 and gave the company a “buy” rating in a report on Monday, January 29th. Finally, Wells Fargo & Company boosted their price target on shares of Ingersoll Rand from $73.00 to $83.00 and gave the company an “overweight” rating in a report on Tuesday, December 19th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Ingersoll Rand has an average rating of “Moderate Buy” and an average target price of $75.27.
Ingersoll Rand Company Profile
Ingersoll Rand Inc provides various mission-critical air, fluid, energy, specialty vehicle, and medical technologies in the United States, Europe, the Middle East, India, Africa, and the Asia Pacific. It operates through two segments, Industrial Technologies and Services, and Precision and Science Technologies.
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