Massachusetts Wealth Management Grows Position in Ingersoll Rand Inc. (NYSE:IR)

Massachusetts Wealth Management raised its holdings in Ingersoll Rand Inc. (NYSE:IR) by 0.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,243 shares of the industrial products company’s stock after acquiring an additional 250 shares during the period. Ingersoll Rand makes up 1.7% of Massachusetts Wealth Management’s investment portfolio, making the stock its 15th largest position. Massachusetts Wealth Management’s holdings in Ingersoll Rand were worth $2,772,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of IR. Capital International Investors grew its position in 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 acquiring an additional 13,919,775 shares during the last quarter. Capital World Investors bought a new position in Ingersoll Rand during the 1st quarter worth approximately $440,401,000. JPMorgan Chase & Co. grew its position in Ingersoll Rand by 28.4% during the 1st 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 during the last quarter. Capital Research Global Investors grew its position in Ingersoll Rand by 15.3% during the 1st 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 during the last quarter. Finally, Swedbank AB bought a new position in Ingersoll Rand during the 1st quarter worth approximately $55,310,000. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Insider Transactions at Ingersoll Rand

In other Ingersoll Rand news, insider Andrew R. Schiesl sold 15,381 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $89.74, for a total transaction of $1,380,290.94. Following the transaction, the insider now directly owns 39,486 shares in the company, valued at $3,543,473.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Kathleen M. Keene sold 4,629 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $89.99, for a total value of $416,563.71. Following the completion of the sale, the insider now owns 3,829 shares of the company’s stock, valued at $344,571.71. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Andrew R. Schiesl sold 15,381 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $89.74, for a total value of $1,380,290.94. Following the completion of the sale, the insider now directly owns 39,486 shares of the company’s stock, valued at $3,543,473.64. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 77,510 shares of company stock worth $7,108,005. 0.68% of the stock is currently owned by company insiders.

Ingersoll Rand Price Performance

Shares of NYSE IR traded up $0.89 during mid-day trading on Friday, reaching $96.82. The company’s stock had a trading volume of 446,635 shares, compared to its average volume of 2,533,435. The firm has a market capitalization of $39.06 billion, a PE ratio of 47.73, 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. The stock has a fifty day moving average of $94.60 and a two-hundred day moving average of $93.29. Ingersoll Rand Inc. has a 52 week low of $59.20 and a 52 week high of $102.74.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.06. Ingersoll Rand had a return on equity of 13.00% and a net margin of 11.73%. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.78 billion. As a group, sell-side analysts anticipate that Ingersoll Rand Inc. will post 3.22 EPS for the current fiscal 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 $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.08%. Ingersoll Rand’s payout ratio is 3.98%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on IR shares. Barclays raised their price target on Ingersoll Rand from $101.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Morgan Stanley began coverage on Ingersoll Rand in a research report on Friday, September 6th. They issued an “equal weight” rating and a $97.00 price objective on the stock. Wells Fargo & Company lifted their price objective on Ingersoll Rand from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Cfra lifted their price objective on Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Finally, Stifel Nicolaus lifted their price objective on Ingersoll Rand from $101.00 to $112.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Ingersoll Rand has an average rating of “Moderate Buy” and a consensus price target of $102.17.

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.