MetLife Investment Management LLC Lowers Holdings in Ingersoll Rand Inc. (NYSE:IR)

MetLife Investment Management LLC reduced its stake in Ingersoll Rand Inc. (NYSE:IR) by 2.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 104,914 shares of the industrial products company’s stock after selling 2,692 shares during the period. MetLife Investment Management LLC’s holdings in Ingersoll Rand were worth $10,298,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Swedbank AB raised its holdings in Ingersoll Rand by 34.0% in the second quarter. Swedbank AB now owns 780,712 shares of the industrial products company’s stock worth $70,920,000 after buying an additional 198,200 shares during the last quarter. GDS Wealth Management increased its position in shares of Ingersoll Rand by 6.4% during the third quarter. GDS Wealth Management now owns 167,248 shares of the industrial products company’s stock valued at $16,417,000 after acquiring an additional 10,081 shares in the last quarter. AXA S.A. raised its holdings in Ingersoll Rand by 81.4% in the 2nd quarter. AXA S.A. now owns 87,829 shares of the industrial products company’s stock worth $7,978,000 after acquiring an additional 39,417 shares during the last quarter. Candriam S.C.A. lifted its position in Ingersoll Rand by 3.0% in the 2nd quarter. Candriam S.C.A. now owns 199,419 shares of the industrial products company’s stock valued at $18,114,000 after acquiring an additional 5,797 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Ingersoll Rand by 59.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 77,268 shares of the industrial products company’s stock valued at $7,019,000 after purchasing an additional 28,938 shares during the last quarter. 95.27% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CAO Michael J. Scheske sold 2,531 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $97.44, for a total transaction of $246,620.64. Following the completion of the sale, the chief accounting officer now owns 11,910 shares in the company, valued at approximately $1,160,510.40. This trade represents a 17.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.68% of the stock is currently owned by insiders.

Ingersoll Rand Price Performance

Shares of Ingersoll Rand stock opened at $104.05 on Friday. The stock’s fifty day moving average is $100.03 and its 200 day moving average is $95.03. Ingersoll Rand Inc. has a one year low of $69.46 and a one year high of $106.03. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.36. The stock has a market cap of $41.93 billion, a P/E ratio of 50.76, a P/E/G ratio of 4.00 and a beta of 1.42.

Ingersoll Rand Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 14th will be paid a dividend of $0.02 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.08%. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.90%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Robert W. Baird decreased their price target on Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Cfra upped their target price on shares of Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a research note on Friday, October 4th. Wolfe Research raised shares of Ingersoll Rand to a “hold” rating in a report on Friday, September 20th. UBS Group assumed coverage on shares of Ingersoll Rand in a research report on Wednesday, November 13th. They set a “buy” rating and a $124.00 price objective on the stock. Finally, Morgan Stanley started coverage on shares of Ingersoll Rand in a research report on Friday, September 6th. They issued an “equal weight” rating and a $97.00 target price for the company. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $103.83.

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.