Fmr LLC Has $1.59 Billion Position in Ingersoll Rand Inc. (NYSE:IR)

Fmr LLC boosted its holdings in Ingersoll Rand Inc. (NYSE:IR) by 10.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,152,094 shares of the industrial products company’s stock after buying an additional 1,538,056 shares during the period. Fmr LLC’s holdings in Ingersoll Rand were worth $1,585,489,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Fisher Asset Management LLC lifted its holdings in Ingersoll Rand by 1.7% in the third quarter. Fisher Asset Management LLC now owns 6,744,839 shares of the industrial products company’s stock valued at $662,074,000 after buying an additional 114,727 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Ingersoll Rand by 6.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,462,558 shares of the industrial products company’s stock valued at $314,549,000 after buying an additional 224,463 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Ingersoll Rand by 1.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,208,267 shares of the industrial products company’s stock valued at $216,763,000 after buying an additional 21,289 shares during the period. Ensign Peak Advisors Inc lifted its holdings in Ingersoll Rand by 20.8% in the second quarter. Ensign Peak Advisors Inc now owns 1,454,956 shares of the industrial products company’s stock valued at $132,168,000 after buying an additional 250,712 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in Ingersoll Rand by 0.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 963,167 shares of the industrial products company’s stock valued at $94,544,000 after buying an additional 2,458 shares during the period. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on IR. Wells Fargo & Company increased their target price on shares of Ingersoll Rand from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Evercore ISI cut their target price on shares of Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Cfra increased their target price on shares of Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Stifel Nicolaus lowered shares of Ingersoll Rand from a “buy” rating to a “hold” rating and cut their target price for the stock from $112.00 to $107.00 in a report on Monday, November 18th. Finally, Wolfe Research upgraded shares of Ingersoll Rand to a “hold” rating in a report on Friday, September 20th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Ingersoll Rand currently has a consensus rating of “Moderate Buy” and an average price target of $103.83.

Insider Activity at Ingersoll Rand

In related news, CAO Michael J. Scheske sold 2,531 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $97.44, for a total value of $246,620.64. Following the completion of the transaction, the chief accounting officer now owns 11,910 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through this hyperlink. 0.68% of the stock is owned by insiders.

Ingersoll Rand Stock Down 0.6 %

Shares of IR stock opened at $104.72 on Wednesday. The firm has a fifty day moving average of $99.70 and a 200-day moving average of $94.91. The company has a quick ratio of 1.71, a current ratio of 2.36 and a debt-to-equity ratio of 0.46. Ingersoll Rand Inc. has a 12-month low of $69.46 and a 12-month high of $106.03. The company has a market capitalization of $42.20 billion, a price-to-earnings ratio of 51.08, a P/E/G ratio of 4.00 and a beta of 1.42.

Ingersoll Rand Announces Dividend

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

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.