Ingersoll Rand Inc. (NYSE:IR) Shares Purchased by Fmr LLC

Fmr LLC raised its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 10.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,152,094 shares of the industrial products company’s stock after acquiring an additional 1,538,056 shares during the quarter. Fmr LLC owned approximately 4.01% of Ingersoll Rand worth $1,585,489,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ridgewood Investments LLC purchased a new position in shares of Ingersoll Rand during the 2nd quarter worth approximately $25,000. Ashton Thomas Securities LLC acquired a new stake in shares of Ingersoll Rand in the 3rd quarter worth approximately $34,000. EverSource Wealth Advisors LLC grew its holdings in shares of Ingersoll Rand by 38.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 126 shares during the period. UMB Bank n.a. grew its holdings in shares of Ingersoll Rand by 196.8% in the 2nd quarter. UMB Bank n.a. now owns 466 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 309 shares during the period. Finally, Eastern Bank acquired a new stake in shares of Ingersoll Rand in the 3rd quarter worth approximately $42,000. 95.27% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Ingersoll Rand

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 shares were sold at an average price of $97.44, for a total transaction of $246,620.64. Following the transaction, the chief accounting officer now directly owns 11,910 shares in the company, valued at approximately $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 accessible through this link. 0.68% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on IR. Wells Fargo & Company increased their target price on Ingersoll Rand from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Evercore ISI cut their price objective on Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Robert W. Baird decreased their price target on Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Morgan Stanley started coverage on Ingersoll Rand in a research note on Friday, September 6th. They issued an “equal weight” rating and a $97.00 target price for the company. Finally, Cfra lifted their price target on Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a report on Friday, October 4th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Ingersoll Rand has an average rating of “Moderate Buy” and an average target price of $103.83.

Ingersoll Rand Price Performance

Shares of Ingersoll Rand stock opened at $104.72 on Wednesday. The company has a current ratio of 2.36, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $42.20 billion, a price-to-earnings ratio of 51.08, a P/E/G ratio of 4.00 and a beta of 1.42. Ingersoll Rand Inc. has a 1-year low of $69.46 and a 1-year high of $106.03. The firm’s 50-day moving average price is $99.70 and its two-hundred day moving average price is $94.91.

Ingersoll Rand Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th will be paid a dividend of $0.02 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.08 annualized dividend and a yield of 0.08%. Ingersoll Rand’s dividend payout ratio is 3.90%.

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.