Geode Capital Management LLC Purchases 54,952 Shares of Ingersoll Rand Inc. (NYSE:IR)

Geode Capital Management LLC boosted its stake in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 0.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,436,467 shares of the industrial products company's stock after acquiring an additional 54,952 shares during the period. Geode Capital Management LLC owned 2.34% of Ingersoll Rand worth $923,087,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. FMR LLC increased its holdings in Ingersoll Rand by 10.5% in the 3rd quarter. FMR LLC now owns 16,152,094 shares of the industrial products company's stock worth $1,585,489,000 after acquiring an additional 1,538,056 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Ingersoll Rand by 9,681.5% in the third quarter. International Assets Investment Management LLC now owns 360,349 shares of the industrial products company's stock worth $353,720,000 after purchasing an additional 356,665 shares in the last quarter. Ensign Peak Advisors Inc raised its position in shares of Ingersoll Rand by 20.8% in the second quarter. Ensign Peak Advisors Inc now owns 1,454,956 shares of the industrial products company's stock valued at $132,168,000 after purchasing an additional 250,712 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Ingersoll Rand by 6.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,462,558 shares of the industrial products company's stock valued at $314,549,000 after buying an additional 224,463 shares in the last quarter. Finally, Swedbank AB boosted its holdings in Ingersoll Rand by 34.0% in the 2nd quarter. Swedbank AB now owns 780,712 shares of the industrial products company's stock worth $70,920,000 after buying an additional 198,200 shares during the period. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on IR. Morgan Stanley assumed coverage on shares of Ingersoll Rand in a research report on Friday, September 6th. They set an "equal weight" rating and a $97.00 price target for the company. Citigroup raised their price target on Ingersoll Rand from $112.00 to $119.00 and gave the company a "buy" rating in a report on Monday. Wolfe Research raised Ingersoll Rand to a "hold" rating in a report on Friday, September 20th. Cfra upped their price objective on shares of Ingersoll Rand from $85.00 to $95.00 and gave the stock a "hold" rating in a research report on Friday, October 4th. Finally, Evercore ISI dropped their target price on shares of Ingersoll Rand from $93.00 to $88.00 and set an "in-line" rating for the company in a research report on Monday, August 19th. 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, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $107.67.

Insider Activity

In other Ingersoll Rand news, 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 value of $246,620.64. Following the sale, the chief accounting officer now owns 11,910 shares in the company, valued at $1,160,510.40. The trade was a 17.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.68% of the company's stock.

Ingersoll Rand Stock Performance

Shares of IR stock traded down $0.26 during trading hours on Thursday, reaching $101.42. The company had a trading volume of 1,201,942 shares, compared to its average volume of 2,473,955. The firm has a market cap of $40.87 billion, a PE ratio of 49.49, a price-to-earnings-growth ratio of 3.88 and a beta of 1.42. The business has a fifty day moving average price of $101.05 and a 200-day moving average price of $95.65. Ingersoll Rand Inc. has a one year low of $73.52 and a one year high of $106.03. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.36.

Ingersoll Rand Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th were paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.08%. The ex-dividend date of this dividend was Thursday, November 14th. Ingersoll Rand's dividend payout ratio (DPR) is currently 3.90%.

Ingersoll Rand 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.