Ingersoll Rand Inc. (NYSE:IR) Shares Sold by Sound Income Strategies LLC

Sound Income Strategies LLC lowered its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 35.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 2,407 shares of the industrial products company’s stock after selling 1,321 shares during the quarter. Sound Income Strategies LLC’s holdings in Ingersoll Rand were worth $218,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its holdings in shares of Ingersoll Rand by 194.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,336 shares of the industrial products company’s stock valued at $134,000 after buying an additional 883 shares during the period. Public Sector Pension Investment Board lifted its holdings in shares of Ingersoll Rand by 73.4% in the 2nd quarter. Public Sector Pension Investment Board now owns 15,470 shares of the industrial products company’s stock valued at $1,405,000 after buying an additional 6,549 shares during the period. Evergreen Capital Management LLC lifted its holdings in shares of Ingersoll Rand by 6.9% in the 2nd quarter. Evergreen Capital Management LLC now owns 3,563 shares of the industrial products company’s stock valued at $324,000 after buying an additional 230 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Ingersoll Rand by 59.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 77,268 shares of the industrial products company’s stock valued at $7,019,000 after buying an additional 28,938 shares during the period. Finally, AXA S.A. lifted its holdings in shares of Ingersoll Rand by 81.4% in the 2nd quarter. AXA S.A. now owns 87,829 shares of the industrial products company’s stock valued at $7,978,000 after buying an additional 39,417 shares during the period. Institutional investors and hedge funds own 95.27% of the company’s stock.

Insider Activity

In other news, CAO Michael J. Scheske sold 2,531 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $97.44, for a total value of $246,620.64. Following the completion of the sale, the chief accounting officer now directly owns 11,910 shares in the company, valued at $1,160,510.40. This represents a 17.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.68% of the company’s stock.

Analyst Upgrades and Downgrades

IR has been the subject of several analyst reports. Cfra boosted their price objective on Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a report on Friday, October 4th. Robert W. Baird reduced their price target on Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating for the company in a report on Monday, November 4th. Stifel Nicolaus reduced their price target on Ingersoll Rand from $107.00 to $100.00 and set a “hold” rating for the company in a report on Friday. The Goldman Sachs Group boosted their price objective on Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Finally, Citigroup cut their price objective on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $105.92.

Ingersoll Rand Price Performance

IR stock opened at $93.11 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.36 and a quick ratio of 1.71. The business has a 50 day simple moving average of $96.51 and a 200-day simple moving average of $95.76. The firm has a market capitalization of $37.53 billion, a PE ratio of 45.42, a price-to-earnings-growth ratio of 3.73 and a beta of 1.44. Ingersoll Rand Inc. has a 1 year low of $78.69 and a 1 year high of $106.03.

Ingersoll Rand Company 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.