Charles Schwab Investment Management Inc. Increases Position in Ingersoll Rand Inc. (NYSE:IR)

Charles Schwab Investment Management Inc. raised its position in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 1.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,208,267 shares of the industrial products company's stock after purchasing an additional 21,289 shares during the period. Charles Schwab Investment Management Inc. owned 0.55% of Ingersoll Rand worth $216,763,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Dimensional Fund Advisors LP grew its holdings 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 purchasing an additional 224,463 shares during the last quarter. Ensign Peak Advisors Inc raised its holdings in 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 worth $132,168,000 after purchasing an additional 250,712 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in Ingersoll Rand by 0.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 963,167 shares of the industrial products company's stock valued at $94,544,000 after acquiring an additional 2,458 shares during the period. Hsbc Holdings PLC lifted its holdings in shares of Ingersoll Rand by 12.4% during the second quarter. Hsbc Holdings PLC now owns 863,449 shares of the industrial products company's stock valued at $78,422,000 after purchasing an additional 95,371 shares during the last quarter. Finally, Swedbank AB boosted its position in shares of 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 purchasing an additional 198,200 shares in the last quarter. Institutional investors own 95.27% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. 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. Morgan Stanley began coverage on shares of Ingersoll Rand in a research report on Friday, September 6th. They set an "equal weight" rating and a $97.00 target price for the company. Wolfe Research upgraded Ingersoll Rand to a "hold" rating in a research report on Friday, September 20th. Wells Fargo & Company upped their price target on shares of Ingersoll Rand from $100.00 to $110.00 and gave the stock an "overweight" rating in a research report on Monday, October 7th. Finally, Stifel Nicolaus cut Ingersoll Rand from a "buy" rating to a "hold" rating and cut their target price for the stock from $112.00 to $107.00 in a research report on Monday, November 18th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $103.83.

Ingersoll Rand Stock Up 0.9 %

NYSE IR traded up $0.96 during trading on Friday, reaching $104.00. 2,163,709 shares of the company's stock traded hands, compared to its average volume of 2,304,731. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.36 and a quick ratio of 1.71. The company's 50 day simple moving average is $99.20 and its two-hundred day simple moving average is $94.71. Ingersoll Rand Inc. has a 12-month low of $69.46 and a 12-month high of $105.63. The firm has a market cap of $41.91 billion, a price-to-earnings ratio of 50.73, a price-to-earnings-growth ratio of 3.91 and a beta of 1.42.

Ingersoll Rand Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th will be issued a $0.02 dividend. 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 dividend payout ratio is currently 3.90%.

Insider Activity

In other news, CAO Michael J. Scheske sold 2,531 shares of the 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 of the company's stock, valued at $1,160,510.40. This represents a 17.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Kathleen M. Keene sold 4,629 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $89.99, for a total value of $416,563.71. Following the transaction, the insider now owns 3,829 shares in the company, valued at $344,571.71. This represents a 54.73 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company's stock.

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.