Avanza Fonder AB Takes $2.73 Million Position in Ingersoll Rand Inc. (NYSE:IR)

Avanza Fonder AB bought a new position in Ingersoll Rand Inc. (NYSE:IR - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 30,135 shares of the industrial products company's stock, valued at approximately $2,726,000.

Several other institutional investors and hedge funds also recently bought and sold shares of IR. FMR LLC raised its stake in shares of Ingersoll Rand by 10.5% in the third quarter. FMR LLC now owns 16,152,094 shares of the industrial products company's stock worth $1,585,489,000 after buying an additional 1,538,056 shares during the period. JPMorgan Chase & Co. raised its stake in Ingersoll Rand by 8.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 18,229,178 shares of the industrial products company's stock worth $1,789,376,000 after acquiring an additional 1,462,538 shares during the period. International Assets Investment Management LLC lifted its holdings in Ingersoll Rand by 9,681.5% during the third quarter. International Assets Investment Management LLC now owns 360,349 shares of the industrial products company's stock valued at $353,720,000 after purchasing an additional 356,665 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Ingersoll Rand by 2.5% in the third quarter. Franklin Resources Inc. now owns 11,597,321 shares of the industrial products company's stock worth $1,207,554,000 after purchasing an additional 278,710 shares during the period. Finally, Nordea Investment Management AB increased its stake in shares of Ingersoll Rand by 19.1% in the fourth quarter. Nordea Investment Management AB now owns 1,691,399 shares of the industrial products company's stock worth $153,867,000 after purchasing an additional 271,381 shares in the last quarter. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Michael J. Scheske sold 2,531 shares of the firm's stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $97.44, for a total value of $246,620.64. Following the transaction, the chief accounting officer now owns 11,910 shares of the company's stock, valued at $1,160,510.40. This trade represents a 17.53 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.68% of the stock is currently owned by corporate insiders.

Ingersoll Rand Trading Up 1.3 %

NYSE IR traded up $1.15 during trading hours on Friday, hitting $91.90. 2,556,760 shares of the company were exchanged, compared to its average volume of 1,847,022. The stock has a market cap of $37.04 billion, a PE ratio of 44.83, a price-to-earnings-growth ratio of 3.17 and a beta of 1.44. Ingersoll Rand Inc. has a 52 week low of $77.16 and a 52 week high of $106.03. The stock has a 50-day moving average price of $97.35 and a 200 day moving average price of $95.69. The company has a quick ratio of 1.71, a current ratio of 2.36 and a debt-to-equity ratio of 0.46.

Ingersoll Rand Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Thursday, November 14th were paid a dividend of $0.02 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. Ingersoll Rand's dividend payout ratio is presently 3.90%.

Analysts Set New Price Targets

IR has been the subject of several recent analyst reports. Wolfe Research raised shares of Ingersoll Rand to a "hold" rating in a report on Friday, September 20th. Cfra upped their price objective on Ingersoll Rand from $85.00 to $95.00 and gave the stock a "hold" rating in a research note on Friday, October 4th. Citigroup decreased their target price on Ingersoll Rand from $119.00 to $115.00 and set a "buy" rating on the stock in a research note on Monday, January 13th. Robert W. Baird cut their price objective on shares of Ingersoll Rand from $114.00 to $109.00 and set an "outperform" rating for the company in a report on Monday, November 4th. Finally, Stifel Nicolaus downgraded shares of Ingersoll Rand from a "buy" rating to a "hold" rating and lowered their target price for the stock from $112.00 to $107.00 in a report on Monday, November 18th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $106.50.

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.