BlackRock Inc. increased its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 14.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,794,816 shares of the industrial products company’s stock after acquiring an additional 3,435,590 shares during the period. BlackRock Inc. owned about 6.62% of Ingersoll Rand worth $1,401,138,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Morse Asset Management Inc boosted its position in Ingersoll Rand by 22.8% in the 3rd quarter. Morse Asset Management Inc now owns 7,279 shares of the industrial products company’s stock valued at $367,000 after buying an additional 1,350 shares during the last quarter. Principal Financial Group Inc. boosted its position in Ingersoll Rand by 9.7% in the 3rd quarter. Principal Financial Group Inc. now owns 508,200 shares of the industrial products company’s stock valued at $25,619,000 after buying an additional 44,900 shares during the last quarter. JustInvest LLC boosted its position in Ingersoll Rand by 15.9% in the 3rd quarter. JustInvest LLC now owns 5,600 shares of the industrial products company’s stock valued at $282,000 after buying an additional 770 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of Ingersoll Rand by 1.8% in the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 32,604 shares of the industrial products company’s stock valued at $1,644,000 after purchasing an additional 590 shares during the period. Finally, Ieq Capital LLC acquired a new position in shares of Ingersoll Rand in the 3rd quarter valued at $277,000. Hedge funds and other institutional investors own 95.86% of the company’s stock.
Ingersoll Rand stock opened at $59.36 on Friday. Ingersoll Rand Inc. has a 52 week low of $40.64 and a 52 week high of $62.64. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.94 and a current ratio of 2.47. The stock has a market capitalization of $24.19 billion, a P/E ratio of 59.36 and a beta of 1.47. The stock has a 50-day simple moving average of $59.61 and a 200 day simple moving average of $54.29.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 17th. Shareholders of record on Wednesday, November 10th were given a dividend of $0.02 per share. The ex-dividend date was Tuesday, November 9th. This represents a $0.08 annualized dividend and a yield of 0.13%. Ingersoll Rand’s dividend payout ratio (DPR) is presently 8.00%.
In other news, VP Michael J. Scheske sold 6,972 shares of Ingersoll Rand stock in a transaction that occurred on Thursday, December 9th. The shares were sold at an average price of $59.98, for a total value of $418,180.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Sia Abbaszadeh sold 5,000 shares of Ingersoll Rand stock in a transaction that occurred on Monday, November 15th. The shares were sold at an average price of $58.59, for a total transaction of $292,950.00. The disclosure for this sale can be found here. Company insiders own 0.69% of the company’s stock.
Several analysts recently commented on IR shares. Credit Suisse Group raised their price objective on Ingersoll Rand from $59.00 to $62.00 and gave the stock a “neutral” rating in a research note on Friday, November 19th. Zacks Investment Research downgraded Ingersoll Rand from a “strong-buy” rating to a “hold” rating and set a $54.00 price target on the stock. in a research note on Thursday, September 30th. Deutsche Bank Aktiengesellschaft decreased their price objective on Ingersoll Rand from $67.00 to $66.00 and set a “buy” rating for the company in a report on Friday, December 10th. Jefferies Financial Group restated a “buy” rating and issued a $69.00 price objective on shares of Ingersoll Rand in a report on Friday, November 19th. Finally, Vertical Research began coverage on Ingersoll Rand in a report on Friday, October 8th. They issued a “hold” rating and a $54.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Ingersoll Rand currently has an average rating of “Buy” and an average target price of $65.57.
Ingersoll Rand Company Profile
Ingersoll Rand, Inc provides a broad range of mission critical air, fluid, energy, specialty vehicle and medical technologies, providing services and solutions to increase industrial productivity and efficiency. It operates through the following segments: Industrial Technologies and Services, Precision and Science Technologies, High Pressure Solutions, and Specialty Vehicle Technologies.
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