JPMorgan Chase & Co. Has $1.79 Billion Stock Position in Ingersoll Rand Inc. (NYSE:IR)

JPMorgan Chase & Co. lifted its position in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 8.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,229,178 shares of the industrial products company's stock after buying an additional 1,462,538 shares during the period. JPMorgan Chase & Co. owned approximately 4.52% of Ingersoll Rand worth $1,789,376,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. lifted its stake in Ingersoll Rand by 0.7% during the third quarter. Principal Financial Group Inc. now owns 467,439 shares of the industrial products company's stock valued at $45,884,000 after purchasing an additional 3,165 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its position in shares of Ingersoll Rand by 58.8% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 5,728 shares of the industrial products company's stock valued at $564,000 after acquiring an additional 2,122 shares during the last quarter. Oddo BHF Asset Management Sas bought a new stake in shares of Ingersoll Rand during the 3rd quarter worth $2,193,000. Franklin Resources Inc. grew its holdings in shares of Ingersoll Rand by 2.5% in the 3rd 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 last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Ingersoll Rand during the third quarter worth $562,000. Institutional investors and hedge funds own 95.27% of the company's stock.

Ingersoll Rand Price Performance

Shares of IR stock traded down $0.71 during mid-day trading on Friday, reaching $91.57. The company's stock had a trading volume of 1,153,312 shares, compared to its average volume of 2,462,109. The firm's 50-day moving average is $99.73 and its two-hundred day moving average is $95.92. The company has a market cap of $36.90 billion, a P/E ratio of 44.67, a PEG ratio of 3.86 and a beta of 1.42. Ingersoll Rand Inc. has a 1-year low of $74.01 and a 1-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 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th were given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date was Thursday, November 14th. Ingersoll Rand's dividend payout ratio (DPR) is 3.90%.

Insider Activity

In related news, CAO Michael J. Scheske sold 2,531 shares of the firm's stock in a transaction on 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 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 document filed with the SEC, which is available at this hyperlink. 0.68% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on IR. Robert W. Baird lowered their price target on Ingersoll Rand from $114.00 to $109.00 and set an "outperform" rating on the stock in a report on Monday, November 4th. Wells Fargo & Company boosted their price objective on shares of Ingersoll Rand from $100.00 to $110.00 and gave the company an "overweight" rating in a research report on Monday, October 7th. Stifel Nicolaus lowered Ingersoll Rand from a "buy" rating to a "hold" rating and dropped their target price for the stock from $112.00 to $107.00 in a research report on Monday, November 18th. Morgan Stanley initiated coverage on Ingersoll Rand in a report on Friday, September 6th. They set an "equal weight" rating and a $97.00 price target for the company. Finally, Wolfe Research upgraded Ingersoll Rand to a "hold" rating in a report on Friday, September 20th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $107.67.

About Ingersoll Rand

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.