Asio Capital LLC Lowers Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

Asio Capital LLC cut its holdings in Ingersoll Rand Inc. (NYSE:IR) by 2.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 43,178 shares of the industrial products company’s stock after selling 907 shares during the quarter. Asio Capital LLC’s holdings in Ingersoll Rand were worth $3,906,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in IR. Ashton Thomas Securities LLC purchased a new stake in Ingersoll Rand during the 3rd quarter worth approximately $34,000. Eastern Bank acquired a new stake in shares of Ingersoll Rand in the third quarter worth approximately $42,000. UMB Bank n.a. increased its position in shares of Ingersoll Rand by 27.0% during the fourth quarter. UMB Bank n.a. now owns 598 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 127 shares in the last quarter. Kimelman & Baird LLC purchased a new position in Ingersoll Rand in the 2nd quarter valued at $57,000. Finally, Versant Capital Management Inc boosted its stake in 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 last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Price Performance

Ingersoll Rand stock opened at $93.11 on Friday. 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 company has a market capitalization of $37.53 billion, a price-to-earnings ratio of 45.42, a price-to-earnings-growth ratio of 3.73 and a beta of 1.44. The company’s 50 day simple moving average is $96.32 and its 200-day simple moving average is $95.77. Ingersoll Rand Inc. has a 1 year low of $78.69 and a 1 year high of $106.03.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on IR. UBS Group initiated coverage on shares of Ingersoll Rand in a research note on Wednesday, November 13th. They issued a “buy” rating and a $124.00 price target on the stock. Cfra boosted their target price on Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Barclays cut their price target on Ingersoll Rand from $120.00 to $115.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. The Goldman Sachs Group upped their target price on Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Finally, Stifel Nicolaus lowered their price target on shares of Ingersoll Rand from $107.00 to $100.00 and set a “hold” rating on the stock in a research report on Friday. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Ingersoll Rand has a consensus rating of “Moderate Buy” and a consensus target price of $105.92.

Insiders Place Their Bets

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 transaction of $246,620.64. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.68% of the stock is owned by insiders.

About Ingersoll Rand

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.