Rhumbline Advisers Purchases 72,430 Shares of Ingersoll Rand Inc. (NYSE:IR)

Rhumbline Advisers grew its position in shares of Ingersoll Rand Inc. (NYSE:IRGet Rating) by 11.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 704,314 shares of the industrial products company’s stock after buying an additional 72,430 shares during the period. Rhumbline Advisers owned approximately 0.17% of Ingersoll Rand worth $29,638,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in IR. MetLife Investment Management LLC grew its holdings in shares of Ingersoll Rand by 22.8% during the 1st quarter. MetLife Investment Management LLC now owns 110,612 shares of the industrial products company’s stock worth $5,569,000 after purchasing an additional 20,561 shares in the last quarter. Illinois Municipal Retirement Fund grew its holdings in shares of Ingersoll Rand by 75.3% during the 2nd quarter. Illinois Municipal Retirement Fund now owns 13,141 shares of the industrial products company’s stock worth $553,000 after purchasing an additional 5,645 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Ingersoll Rand by 11.4% during the 1st quarter. Victory Capital Management Inc. now owns 214,242 shares of the industrial products company’s stock worth $9,418,000 after purchasing an additional 21,937 shares in the last quarter. Brinker Capital Investments LLC grew its holdings in shares of Ingersoll Rand by 5.1% during the 2nd quarter. Brinker Capital Investments LLC now owns 49,438 shares of the industrial products company’s stock worth $2,080,000 after purchasing an additional 2,415 shares in the last quarter. Finally, Baird Financial Group Inc. grew its holdings in shares of Ingersoll Rand by 2.1% during the 1st quarter. Baird Financial Group Inc. now owns 1,282,105 shares of the industrial products company’s stock worth $64,553,000 after purchasing an additional 26,043 shares in the last quarter. Institutional investors own 99.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Barclays reduced their price objective 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. Wells Fargo & Company raised their price objective on Ingersoll Rand from $51.00 to $57.00 and gave the company an “overweight” rating in a research note on Friday, November 4th. Credit Suisse Group raised their price objective on Ingersoll Rand from $44.00 to $53.00 and gave the company a “neutral” rating in a research note on Friday, November 4th. Morgan Stanley raised their price objective on Ingersoll Rand from $53.00 to $57.00 and gave the company an “overweight” rating in a research note on Friday, November 4th. Finally, Citigroup reduced their price objective on Ingersoll Rand from $58.00 to $57.00 in a research note on Monday, October 10th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Ingersoll Rand currently has an average rating of “Hold” and an average price target of $54.20.

Insiders Place Their Bets

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

Ingersoll Rand Trading Down 0.3 %

Shares of IR stock opened at $53.64 on Thursday. The company has a market cap of $21.72 billion, a P/E ratio of 32.31 and a beta of 1.47. The stock has a 50 day simple moving average of $48.62 and a two-hundred day simple moving average of $47.11. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.79 and a current ratio of 2.46. Ingersoll Rand Inc. has a fifty-two week low of $39.28 and a fifty-two week high of $62.64.

Ingersoll Rand Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Shareholders 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 yield of 0.15%. Ingersoll Rand’s payout ratio is currently 4.82%.

About Ingersoll Rand

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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)

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