Fmr LLC Grows Stock Position in Ingersoll Rand Inc. (NYSE:IR)

FMR LLC raised its position in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 10.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,152,094 shares of the industrial products company's stock after acquiring an additional 1,538,056 shares during the quarter. FMR LLC owned approximately 4.01% of Ingersoll Rand worth $1,585,489,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IR. Dai ichi Life Insurance Company Ltd lifted its position in shares of Ingersoll Rand by 4.7% during the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 21,005 shares of the industrial products company's stock worth $2,062,000 after purchasing an additional 946 shares during the last quarter. DRW Securities LLC purchased a new stake in Ingersoll Rand during the 3rd quarter worth about $543,000. Fisher Asset Management LLC boosted its position in shares of Ingersoll Rand by 1.7% during the 3rd quarter. Fisher Asset Management LLC now owns 6,744,839 shares of the industrial products company's stock worth $662,074,000 after acquiring an additional 114,727 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Ingersoll Rand by 9.4% in the 3rd 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 last quarter. Finally, Hartford Funds Management Co LLC raised its position in shares of Ingersoll Rand by 15.0% during the 3rd quarter. Hartford Funds Management Co LLC now owns 6,795 shares of the industrial products company's stock worth $667,000 after acquiring an additional 884 shares in the last quarter. Institutional investors and hedge funds own 95.27% of the company's stock.

Wall Street Analyst Weigh In

IR has been the subject of a number of research analyst reports. Stifel Nicolaus downgraded Ingersoll Rand from a "buy" rating to a "hold" rating and lowered their price target for the company from $112.00 to $107.00 in a report on Monday, November 18th. Cfra increased their target price on shares of Ingersoll Rand from $85.00 to $95.00 and gave the company a "hold" rating in a research report on Friday, October 4th. Wolfe Research upgraded shares of Ingersoll Rand to a "hold" rating in a research note on Friday, September 20th. Barclays raised their price objective on Ingersoll Rand from $101.00 to $105.00 and gave the stock an "overweight" rating in a report on Wednesday, October 2nd. Finally, Robert W. Baird reduced their target price on Ingersoll Rand from $114.00 to $109.00 and set an "outperform" rating for the company in a report on Monday, November 4th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, Ingersoll Rand has an average rating of "Moderate Buy" and an average price target of $103.83.

Ingersoll Rand Stock Performance

IR traded down $0.69 on Wednesday, hitting $104.05. 1,170,873 shares of the company traded hands, compared to its average volume of 2,512,319. Ingersoll Rand Inc. has a 12-month low of $69.46 and a 12-month high of $106.03. The company has a 50 day moving average of $99.91 and a 200-day moving average of $94.97. The company has a quick ratio of 1.71, a current ratio of 2.36 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $41.93 billion, a PE ratio of 50.76, a PEG ratio of 4.00 and a beta of 1.42.

Ingersoll Rand Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 14th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.08%. The ex-dividend date is Thursday, November 14th. Ingersoll Rand's dividend payout ratio is presently 3.90%.

Insider Activity at Ingersoll Rand

In other news, CAO Michael J. Scheske sold 2,531 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly owns 11,910 shares of the company's stock, valued at $1,160,510.40. This trade represents a 17.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.