Franklin Resources Inc. Reduces Position in Ingersoll Rand Inc. (NYSE:IR)

Franklin Resources Inc. lessened its position in shares of Ingersoll Rand Inc. (NYSE:IRGet Rating) by 0.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,982,224 shares of the industrial products company’s stock after selling 14,866 shares during the quarter. Franklin Resources Inc. owned about 0.49% of Ingersoll Rand worth $83,412,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in IR. Prospera Financial Services Inc purchased a new position in shares of Ingersoll Rand in the 1st quarter valued at approximately $27,000. Hazlett Burt & Watson Inc. purchased a new stake in shares of Ingersoll Rand in the first quarter valued at approximately $36,000. Trust Co. of Vermont purchased a new stake in shares of Ingersoll Rand in the second quarter valued at approximately $31,000. CVA Family Office LLC boosted its stake in shares of Ingersoll Rand by 131.3% in the second quarter. CVA Family Office LLC now owns 740 shares of the industrial products company’s stock valued at $31,000 after buying an additional 420 shares in the last quarter. Finally, CoreCap Advisors LLC purchased a new stake in shares of Ingersoll Rand in the second quarter valued at approximately $33,000. Hedge funds and other institutional investors own 99.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on IR. Barclays decreased their price target on Ingersoll Rand from $59.00 to $57.00 and set an “overweight” rating on the stock in a research note on Monday, October 3rd. TheStreet downgraded Ingersoll Rand from a “b-” rating to a “c” rating in a research note on Tuesday, October 11th. Wells Fargo & Company lifted their price objective on Ingersoll Rand from $51.00 to $57.00 and gave the stock an “overweight” rating in a report on Friday, November 4th. Robert W. Baird lifted their price objective on Ingersoll Rand from $52.00 to $57.00 in a report on Friday, August 5th. Finally, Morgan Stanley lifted their price objective on Ingersoll Rand from $53.00 to $57.00 and gave the stock an “overweight” rating in a report on Friday, November 4th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Ingersoll Rand currently has a consensus rating of “Hold” and an average target price of $54.20.

Ingersoll Rand Stock Performance

NYSE IR opened at $53.64 on Thursday. Ingersoll Rand Inc. has a fifty-two week low of $39.28 and a fifty-two week high of $62.64. The stock has a market cap of $21.72 billion, a price-to-earnings ratio of 32.31 and a beta of 1.47. The business has a fifty day moving average of $48.62 and a 200-day moving average of $47.11. The company has a quick ratio of 1.79, a current ratio of 2.46 and a debt-to-equity ratio of 0.31.

Ingersoll Rand Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Wednesday, November 16th will be issued a $0.02 dividend. The ex-dividend date is Tuesday, November 15th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.15%. Ingersoll Rand’s dividend payout ratio (DPR) is 4.82%.

Insider Transactions at Ingersoll Rand

In other news, insider Vicente Reynal sold 10,893 shares of the business’s stock in a transaction on Monday, November 7th. The stock was sold at an average price of $53.02, for a total value of $577,546.86. Following the completion of the transaction, the insider now directly owns 128,567 shares of the company’s stock, valued at $6,816,622.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Vicente Reynal sold 10,893 shares of Ingersoll Rand stock in a transaction on Monday, November 7th. The stock was sold at an average price of $53.02, for a total value of $577,546.86. Following the completion of the sale, the insider now owns 128,567 shares of the company’s stock, valued at $6,816,622.34. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Andrew R. Schiesl sold 10,000 shares of Ingersoll Rand stock in a transaction on Thursday, November 3rd. The shares were sold at an average price of $52.00, for a total value of $520,000.00. Following the completion of the sale, the insider now directly owns 70,928 shares of the company’s stock, valued at approximately $3,688,256. The disclosure for this sale can be found here. Insiders sold a total of 22,636 shares of company stock valued at $1,190,675 over the last three months. 0.75% of the stock is currently owned by insiders.

Ingersoll Rand Profile

(Get Rating)

Ingersoll Rand Inc provides various mission-critical air, fluid, energy, specialty vehicle and medical technologies in the United States, Europe, the Middle East, Africa, and the Asia Pacific. It operates through two segments, Industrial Technologies and Services, and Precision and Science Technologies.

See Also

Institutional Ownership by Quarter for Ingersoll Rand (NYSE:IR)

Receive News & Ratings for Ingersoll Rand Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ingersoll Rand and related companies with MarketBeat.com's FREE daily email newsletter.