Ingersoll Rand Inc. (NYSE:IR) Shares Purchased by Empirical Finance LLC

Empirical Finance LLC raised its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 2.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,057 shares of the industrial products company’s stock after acquiring an additional 296 shares during the quarter. Empirical Finance LLC’s holdings in Ingersoll Rand were worth $1,282,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Capital International Investors grew its stake in Ingersoll Rand by 113.7% in the first quarter. Capital International Investors now owns 26,166,256 shares of the industrial products company’s stock worth $2,484,486,000 after purchasing an additional 13,919,775 shares in the last quarter. Capital World Investors acquired a new position in shares of Ingersoll Rand in the 1st quarter worth approximately $440,401,000. JPMorgan Chase & Co. raised its position in shares of 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 valued at $1,517,040,000 after acquiring an additional 3,535,543 shares in the last quarter. Capital Research Global Investors raised its position in shares of 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 valued at $1,074,477,000 after acquiring an additional 1,504,414 shares in the last quarter. Finally, Swedbank AB acquired a new position in Ingersoll Rand in the first quarter worth $55,310,000. 95.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. 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 price target on the stock. Wells Fargo & Company lifted their target price on Ingersoll Rand from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Evercore ISI lowered their target price on Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Stifel Nicolaus raised their price target on Ingersoll Rand from $101.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Wolfe Research upgraded Ingersoll Rand to a “hold” rating in a research note on Friday, September 20th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $104.25.

Insider Activity at Ingersoll Rand

In related news, insider Kathleen M. Keene sold 4,629 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $89.99, for a total transaction of $416,563.71. Following the completion of the transaction, the insider now owns 3,829 shares of the company’s stock, valued at $344,571.71. This trade represents a 54.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Michael J. Scheske sold 2,531 shares of the business’s 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 disclosure for this sale can be found here. Insiders have sold 14,660 shares of company stock worth $1,348,834 over the last quarter. 0.68% of the stock is currently owned by company insiders.

Ingersoll Rand Stock Performance

IR stock opened at $102.43 on Friday. The company has a 50-day simple moving average of $97.83 and a 200 day simple moving average of $94.23. The company has a market capitalization of $41.28 billion, a P/E ratio of 49.97, a PEG ratio of 3.96 and a beta of 1.42. 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 fifty-two week low of $69.46 and a fifty-two week high of $105.63.

Ingersoll Rand Dividend Announcement

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 issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.08%. The ex-dividend date of this dividend is Thursday, November 14th. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.90%.

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.