Franklin Resources Inc. Purchases 278,710 Shares of Ingersoll Rand Inc. (NYSE:IR)

Franklin Resources Inc. boosted its holdings in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 2.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,597,321 shares of the industrial products company's stock after acquiring an additional 278,710 shares during the period. Franklin Resources Inc. owned 2.88% of Ingersoll Rand worth $1,207,554,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Swedbank AB boosted its stake in Ingersoll Rand by 34.0% in the 2nd 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 during the period. Daiwa Securities Group Inc. boosted its position in shares of Ingersoll Rand by 9.4% in the third quarter. Daiwa Securities Group Inc. now owns 90,827 shares of the industrial products company's stock valued at $8,916,000 after acquiring an additional 7,784 shares during the period. GDS Wealth Management grew its stake in shares of Ingersoll Rand by 6.4% in the third quarter. GDS Wealth Management now owns 167,248 shares of the industrial products company's stock valued at $16,417,000 after acquiring an additional 10,081 shares in the last quarter. Intech Investment Management LLC increased its position in Ingersoll Rand by 28.2% during the third quarter. Intech Investment Management LLC now owns 101,745 shares of the industrial products company's stock worth $9,987,000 after acquiring an additional 22,401 shares during the period. Finally, AXA S.A. raised 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 purchasing an additional 39,417 shares in the last quarter. Institutional investors and hedge funds own 95.27% of the company's stock.

Ingersoll Rand Stock Down 0.3 %

Shares of IR stock traded down $0.32 on Friday, reaching $101.10. 1,440,375 shares of the company were exchanged, compared to its average volume of 2,469,666. 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 has a 50-day moving average of $101.10 and a 200-day moving average of $95.69. The company has a market cap of $40.74 billion, a price-to-earnings ratio of 49.47, a PEG ratio of 3.86 and a beta of 1.42. Ingersoll Rand Inc. has a one year low of $74.01 and a one year high of $106.03.

Ingersoll Rand Dividend Announcement

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

Insider Activity

In other Ingersoll Rand news, CAO Michael J. Scheske sold 2,531 shares of Ingersoll Rand stock in a transaction dated Tuesday, November 5th. The stock was 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 in the company, valued at approximately $1,160,510.40. The trade was a 17.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.68% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on IR shares. Citigroup increased their target price on shares of Ingersoll Rand from $112.00 to $119.00 and gave the stock a "buy" rating in a research report on Monday. Cfra raised 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. Robert W. Baird cut their target price on Ingersoll Rand from $114.00 to $109.00 and set an "outperform" rating for the company in a research report on Monday, November 4th. Stifel Nicolaus cut Ingersoll Rand from a "buy" rating to a "hold" rating and decreased their price target for the stock from $112.00 to $107.00 in a research report on Monday, November 18th. Finally, Barclays upped their price objective on shares of Ingersoll Rand from $105.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, December 5th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $107.67.

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.