IFM Investors Pty Ltd Boosts Stock Position in Ingersoll Rand Inc. (NYSE:IR)

IFM Investors Pty Ltd boosted its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 0.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 83,601 shares of the industrial products company’s stock after acquiring an additional 603 shares during the quarter. IFM Investors Pty Ltd’s holdings in Ingersoll Rand were worth $8,206,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Capital International Investors raised its stake in shares of Ingersoll Rand by 113.7% during the 1st quarter. Capital International Investors now owns 26,166,256 shares of the industrial products company’s stock worth $2,484,486,000 after buying an additional 13,919,775 shares in the last quarter. 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 worth $1,517,040,000 after acquiring an additional 3,535,543 shares in the last quarter. Capital Research Global Investors raised its position in Ingersoll Rand by 15.3% in 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 acquiring an additional 1,504,414 shares in the last quarter. Capital World Investors purchased a new stake in shares of Ingersoll Rand during the 1st quarter worth $440,401,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Ingersoll Rand by 6.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,462,558 shares of the industrial products company’s stock worth $314,549,000 after purchasing an additional 224,463 shares during the period. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Wolfe Research upgraded shares of Ingersoll Rand to a “hold” rating in a research note on Friday, September 20th. Stifel Nicolaus lifted their price target on shares of Ingersoll Rand from $101.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Robert W. Baird upped their price target on Ingersoll Rand from $109.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Cfra lifted their price objective on Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Finally, Wells Fargo & Company upped their target price on Ingersoll Rand from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Ingersoll Rand has an average rating of “Moderate Buy” and a consensus price target of $102.17.

Ingersoll Rand Stock Performance

NYSE:IR opened at $96.09 on Friday. Ingersoll Rand Inc. has a 1-year low of $59.20 and a 1-year high of $102.74. The firm has a 50 day simple moving average of $94.68 and a 200-day simple moving average of $93.31. The firm has a market cap of $38.77 billion, a PE ratio of 47.81, a P/E/G ratio of 2.72 and a beta of 1.42. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.18 and a quick ratio of 1.52.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.06. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates 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 3.22 EPS for the current year.

Ingersoll Rand Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th will be paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.08%. The ex-dividend date of this dividend is Thursday, November 14th. Ingersoll Rand’s dividend payout ratio is currently 3.98%.

Insider Transactions at Ingersoll Rand

In related news, insider Vicente Reynal sold 50,000 shares of the company’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 transaction, the insider now owns 100,367 shares of the company’s stock, valued at approximately $9,284,951.17. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Ingersoll Rand news, insider Kathleen M. Keene sold 4,629 shares of Ingersoll Rand stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $89.99, for a total transaction of $416,563.71. Following the transaction, the insider now directly owns 3,829 shares of the company’s stock, valued at $344,571.71. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Vicente Reynal sold 50,000 shares of Ingersoll Rand stock in a transaction 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 transaction, the insider now owns 100,367 shares in the company, valued at $9,284,951.17. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 77,510 shares of company stock worth $7,108,005 in the last three months. Company insiders own 0.68% of the company’s stock.

Ingersoll Rand 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.