Mirae Asset Global Investments Co. Ltd. Has $3.27 Million Holdings in Ingersoll Rand Inc. (NYSE:IR)

Mirae Asset Global Investments Co. Ltd. raised its stake in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 22.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,368 shares of the industrial products company's stock after purchasing an additional 6,122 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Ingersoll Rand were worth $3,273,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Capital International Investors lifted its position in Ingersoll Rand by 113.7% during the first quarter. Capital International Investors now owns 26,166,256 shares of the industrial products company's stock valued at $2,484,486,000 after buying an additional 13,919,775 shares in the last quarter. Capital World Investors purchased a new stake in Ingersoll Rand during the 1st quarter worth $440,401,000. JPMorgan Chase & Co. raised its position in Ingersoll Rand by 28.4% in the first quarter. JPMorgan Chase & Co. now owns 15,977,246 shares of the industrial products company's stock valued at $1,517,040,000 after purchasing an additional 3,535,543 shares during the period. Capital Research Global Investors lifted its stake in shares of Ingersoll Rand by 15.3% during the first quarter. Capital Research Global Investors now owns 11,316,241 shares of the industrial products company's stock worth $1,074,477,000 after purchasing an additional 1,504,414 shares in the last quarter. Finally, Swedbank AB purchased a new stake in shares of Ingersoll Rand in the first quarter worth about $55,310,000. Institutional investors and hedge funds own 95.27% of the company's stock.

Ingersoll Rand Stock Performance

Shares of IR traded up $0.02 during mid-day trading on Wednesday, hitting $97.28. The stock had a trading volume of 1,659,518 shares, compared to its average volume of 2,532,219. Ingersoll Rand Inc. has a fifty-two week low of $60.18 and a fifty-two week high of $102.74. The company has a quick ratio of 1.52, a current ratio of 2.18 and a debt-to-equity ratio of 0.47. The company has a market cap of $39.25 billion, a PE ratio of 48.40, a PEG ratio of 2.69 and a beta of 1.42. The company's fifty day simple moving average is $95.16 and its two-hundred day simple moving average is $93.42.

Ingersoll Rand (NYSE:IR - Get Free Report) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $0.80 EPS for the quarter, beating analysts' consensus estimates of $0.74 by $0.06. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.78 billion. Ingersoll Rand had a return on equity of 13.00% and a net margin of 11.73%. On average, equities analysts expect that Ingersoll Rand Inc. will post 3.21 earnings per share for the current year.

Ingersoll Rand Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th will be given 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 (DPR) is 3.98%.

Insider Buying and Selling at Ingersoll Rand

In other news, insider Andrew R. Schiesl sold 15,381 shares of the business's stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $89.74, for a total value of $1,380,290.94. Following the sale, the insider now owns 39,486 shares of the company's stock, valued at approximately $3,543,473.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Vicente Reynal sold 50,000 shares of the firm's stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $92.51, for a total transaction of $4,625,500.00. Following the completion of the sale, the insider now directly owns 100,367 shares in the company, valued at approximately $9,284,951.17. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Andrew R. Schiesl sold 15,381 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $89.74, for a total value of $1,380,290.94. Following the sale, the insider now owns 39,486 shares of the company's stock, valued at $3,543,473.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 77,510 shares of company stock worth $7,108,005. 0.68% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Cfra boosted their price target on Ingersoll Rand from $85.00 to $95.00 and gave the stock a "hold" rating in a research report on Friday, October 4th. Stifel Nicolaus boosted their target price on shares of Ingersoll Rand from $101.00 to $112.00 and gave the stock a "buy" rating in a research report on Wednesday, October 16th. Wolfe Research raised shares of Ingersoll Rand to a "hold" rating in a report on Friday, September 20th. Robert W. Baird boosted their price objective on shares of Ingersoll Rand from $109.00 to $115.00 and gave the stock an "outperform" rating in a report on Friday, August 2nd. Finally, Wells Fargo & Company upped 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. Six equities research analysts have rated the stock with a hold rating and eight 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 a consensus target price of $102.17.

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.