Sumitomo Mitsui Trust Group Inc. Raises Position in Ingersoll Rand Inc. (NYSE:IR)

Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 0.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 963,167 shares of the industrial products company’s stock after purchasing an additional 2,458 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.24% of Ingersoll Rand worth $94,544,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of IR. Envestnet Portfolio Solutions Inc. increased its stake in shares of Ingersoll Rand by 5.5% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 6,268 shares of the industrial products company’s stock worth $595,000 after purchasing an additional 328 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new position in Ingersoll Rand in the 1st quarter valued at approximately $220,000. Headlands Technologies LLC purchased a new position in Ingersoll Rand in the 1st quarter valued at approximately $28,000. QRG Capital Management Inc. grew its stake in Ingersoll Rand by 15.1% in the 1st quarter. QRG Capital Management Inc. now owns 5,443 shares of the industrial products company’s stock valued at $517,000 after buying an additional 714 shares in the last quarter. Finally, Avantax Advisory Services Inc. purchased a new position in Ingersoll Rand in the 1st quarter valued at approximately $237,000. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Michael J. Scheske sold 2,531 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $97.44, for a total transaction of $246,620.64. Following the completion of the transaction, the chief accounting officer now directly owns 11,910 shares of the company’s stock, valued at approximately $1,160,510.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CAO Michael J. Scheske sold 2,531 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $97.44, for a total transaction of $246,620.64. Following the completion of the transaction, the chief accounting officer now directly owns 11,910 shares of the company’s stock, valued at approximately $1,160,510.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Kathleen M. Keene sold 4,629 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $89.99, for a total transaction of $416,563.71. Following the transaction, the insider now directly owns 3,829 shares of the company’s stock, valued at approximately $344,571.71. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,660 shares of company stock valued at $1,348,834 over the last three months. Insiders own 0.68% of the company’s stock.

Ingersoll Rand Stock Performance

Ingersoll Rand stock opened at $104.35 on Thursday. The company has a quick ratio of 1.71, a current ratio of 2.36 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $42.05 billion, a PE ratio of 50.90, a P/E/G ratio of 3.96 and a beta of 1.42. The firm has a fifty day simple moving average of $96.87 and a two-hundred day simple moving average of $94.04. Ingersoll Rand Inc. has a twelve month low of $69.29 and a twelve month high of $105.63.

Ingersoll Rand Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.08%. The ex-dividend date of this dividend is Thursday, November 14th. Ingersoll Rand’s dividend payout ratio is presently 3.90%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Evercore ISI reduced their price objective on shares of Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Barclays lifted their price objective on shares of Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Cfra boosted their price target on shares of Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a research report on Friday, October 4th. UBS Group assumed coverage on shares of Ingersoll Rand in a report on Wednesday. They set a “buy” rating and a $124.00 price objective for the company. Finally, Robert W. Baird dropped their price objective on shares of Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating for the company in a report on Monday, November 4th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Ingersoll Rand currently has an average rating of “Moderate Buy” and an average target price of $104.25.

Ingersoll Rand 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.