GAMMA Investing LLC Increases Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

GAMMA Investing LLC boosted its holdings in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 100.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,065 shares of the industrial products company's stock after purchasing an additional 9,060 shares during the period. GAMMA Investing LLC's holdings in Ingersoll Rand were worth $1,634,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in shares of 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 valued at $1,789,376,000 after purchasing an additional 1,462,538 shares in the last quarter. FMR LLC grew its position in Ingersoll Rand by 10.5% during the third quarter. FMR LLC now owns 16,152,094 shares of the industrial products company's stock valued at $1,585,489,000 after buying an additional 1,538,056 shares during the period. State Street Corp increased its holdings in Ingersoll Rand by 0.7% in the third quarter. State Street Corp now owns 15,776,908 shares of the industrial products company's stock valued at $1,548,661,000 after buying an additional 112,824 shares in the last quarter. Franklin Resources Inc. raised 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 acquiring an additional 278,710 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Ingersoll Rand by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 9,436,467 shares of the industrial products company's stock worth $923,087,000 after acquiring an additional 54,952 shares in the last quarter. 95.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Barclays upped their price target on Ingersoll Rand from $105.00 to $120.00 and gave the stock an "overweight" rating in a report on Thursday, December 5th. Wolfe Research raised Ingersoll Rand to a "hold" rating in a research note on Friday, September 20th. UBS Group assumed 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. Cfra boosted their price target on shares of Ingersoll Rand from $85.00 to $95.00 and gave the stock a "hold" rating in a report on Friday, October 4th. Finally, Wells Fargo & Company increased their price objective on shares of Ingersoll Rand from $100.00 to $110.00 and gave the company an "overweight" rating in a report on Monday, October 7th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $107.67.

Ingersoll Rand Price Performance

IR stock traded up $1.97 during mid-day trading on Friday, reaching $92.49. The company's stock had a trading volume of 2,473,199 shares, compared to its average volume of 1,679,753. The stock has a market cap of $37.27 billion, a PE ratio of 45.12, a P/E/G ratio of 3.84 and a beta of 1.42. The company's 50 day moving average is $99.09 and its two-hundred day moving average is $95.85. Ingersoll Rand Inc. has a fifty-two week low of $74.01 and a fifty-two week high of $106.03. 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 Dividend Announcement

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

Insider Activity at Ingersoll Rand

In other Ingersoll Rand news, CAO Michael J. Scheske sold 2,531 shares of Ingersoll Rand stock in a transaction on Tuesday, November 5th. The stock was 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.68% of the stock is currently owned by insiders.

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.