Geode Capital Management LLC Purchases 54,952 Shares of Ingersoll Rand Inc. (NYSE:IR)

Geode Capital Management LLC grew its position in Ingersoll Rand Inc. (NYSE:IR) by 0.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,436,467 shares of the industrial products company’s stock after buying an additional 54,952 shares during the period. Geode Capital Management LLC owned 2.34% of Ingersoll Rand worth $923,087,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Swedbank AB boosted its holdings in shares of Ingersoll Rand by 34.0% in the 2nd quarter. Swedbank AB now owns 780,712 shares of the industrial products company’s stock valued at $70,920,000 after buying an additional 198,200 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Ingersoll Rand by 9.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 90,827 shares of the industrial products company’s stock valued at $8,916,000 after buying an additional 7,784 shares in the last quarter. GDS Wealth Management boosted its holdings in shares of Ingersoll Rand by 6.4% in the 3rd quarter. GDS Wealth Management now owns 167,248 shares of the industrial products company’s stock valued at $16,417,000 after buying an additional 10,081 shares in the last quarter. Intech Investment Management LLC boosted its holdings in shares of Ingersoll Rand by 28.2% in the 3rd quarter. Intech Investment Management LLC now owns 101,745 shares of the industrial products company’s stock valued at $9,987,000 after buying an additional 22,401 shares in the last quarter. Finally, AXA S.A. boosted its stake 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 purchasing an additional 39,417 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on IR shares. Wolfe Research upgraded shares of Ingersoll Rand to a “hold” rating in a research note on Friday, September 20th. Barclays lifted their target price on shares of Ingersoll Rand from $105.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Wells Fargo & Company lifted their target price on shares of Ingersoll Rand from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Stifel Nicolaus cut shares of Ingersoll Rand from a “buy” rating to a “hold” rating and lowered their target price for the stock from $112.00 to $107.00 in a research note on Monday, November 18th. Finally, Citigroup lifted their target price on shares of Ingersoll Rand from $112.00 to $119.00 and gave the stock a “buy” rating in a research note on Monday. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $105.67.

Ingersoll Rand Price Performance

NYSE:IR opened at $101.67 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.36 and a quick ratio of 1.71. The firm has a market cap of $40.97 billion, a price-to-earnings ratio of 49.60, a price-to-earnings-growth ratio of 3.88 and a beta of 1.42. The company has a 50 day moving average price of $101.02 and a 200-day moving average price of $95.61. Ingersoll Rand Inc. has a 1-year low of $73.52 and a 1-year high of $106.03.

Ingersoll Rand Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th were issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.08%. The ex-dividend date was Thursday, November 14th. Ingersoll Rand’s dividend payout ratio (DPR) is 3.90%.

Insider Activity

In related news, CAO Michael J. Scheske sold 2,531 shares of the business’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 sale, the chief accounting officer now owns 11,910 shares of the company’s stock, valued at approximately $1,160,510.40. The trade was a 17.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.68% of the company’s stock.

About Ingersoll Rand

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.