Fisher Asset Management LLC Grows Position in Ingersoll Rand Inc. (NYSE:IR)

Fisher Asset Management LLC grew its position in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 1.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,744,839 shares of the industrial products company's stock after purchasing an additional 114,727 shares during the quarter. Fisher Asset Management LLC owned approximately 1.67% of Ingersoll Rand worth $662,074,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Swedbank AB raised its stake in Ingersoll Rand by 34.0% during the second quarter. Swedbank AB now owns 780,712 shares of the industrial products company's stock valued at $70,920,000 after purchasing an additional 198,200 shares in the last quarter. Bayesian Capital Management LP increased its stake in Ingersoll Rand by 334.6% in the 1st quarter. Bayesian Capital Management LP now owns 11,300 shares of the industrial products company's stock worth $1,073,000 after buying an additional 8,700 shares during the period. GDS Wealth Management increased its stake in Ingersoll Rand by 6.4% in the 3rd quarter. GDS Wealth Management now owns 167,248 shares of the industrial products company's stock worth $16,417,000 after buying an additional 10,081 shares during the period. AXA S.A. increased its stake in Ingersoll Rand by 81.4% in the 2nd quarter. AXA S.A. now owns 87,829 shares of the industrial products company's stock worth $7,978,000 after buying an additional 39,417 shares during the period. Finally, Candriam S.C.A. increased its stake in Ingersoll Rand by 3.0% in the 2nd quarter. Candriam S.C.A. now owns 199,419 shares of the industrial products company's stock worth $18,114,000 after buying an additional 5,797 shares during the period. 95.27% of the stock is currently owned by institutional investors.

Ingersoll Rand Stock Performance

NYSE IR traded up $1.36 on Monday, hitting $105.36. 3,004,149 shares of the company's stock traded hands, compared to its average volume of 2,522,964. The company has a current ratio of 2.36, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. 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 $99.49 and its two-hundred day moving average price is $94.81. The firm has a market capitalization of $42.46 billion, a PE ratio of 51.40, a P/E/G ratio of 3.95 and a beta of 1.42.

Ingersoll Rand Announces Dividend

The firm 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. This represents a $0.08 annualized dividend and a yield of 0.08%. The ex-dividend date of this dividend is Thursday, November 14th. Ingersoll Rand's payout ratio is 3.90%.

Analyst Upgrades and Downgrades

IR has been the topic of several recent research reports. UBS Group initiated coverage on shares of Ingersoll Rand in a report on Wednesday, November 13th. They set a "buy" rating and a $124.00 target price on the stock. Wolfe Research upgraded shares of Ingersoll Rand to a "hold" rating in a report on Friday, September 20th. Barclays increased their target price on shares of Ingersoll Rand from $101.00 to $105.00 and gave the stock an "overweight" rating in a report on Wednesday, October 2nd. Wells Fargo & Company increased their target price on shares of Ingersoll Rand from $100.00 to $110.00 and gave the stock an "overweight" rating in a report on Monday, October 7th. Finally, Robert W. Baird lowered their price target on shares of Ingersoll Rand from $114.00 to $109.00 and set an "outperform" rating on the stock in a report on Monday, November 4th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Ingersoll Rand presently has an average rating of "Moderate Buy" and a consensus target price of $103.83.

Insider Buying and Selling at Ingersoll Rand

In related news, insider Kathleen M. Keene sold 4,629 shares of the business's stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $89.99, for a total value of $416,563.71. Following the completion of the transaction, the insider now directly owns 3,829 shares in the company, valued at $344,571.71. The trade was a 54.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Michael J. Scheske sold 2,531 shares of the business's stock in a transaction 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 completion of the transaction, the chief accounting officer now owns 11,910 shares of the company's stock, valued at approximately $1,160,510.40. This represents a 17.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.68% of the company's stock.

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.