Daiwa Securities Group Inc. Raises Holdings in Ingersoll Rand Inc. (NYSE:IR)

Daiwa Securities Group Inc. boosted its position in Ingersoll Rand Inc. (NYSE:IR) by 9.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 90,827 shares of the industrial products company’s stock after purchasing an additional 7,784 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Ingersoll Rand were worth $8,916,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its holdings in shares of Ingersoll Rand by 6.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,462,558 shares of the industrial products company’s stock worth $314,549,000 after purchasing an additional 224,463 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Ingersoll Rand by 1.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,208,267 shares of the industrial products company’s stock worth $216,763,000 after buying an additional 21,289 shares in the last quarter. Ensign Peak Advisors Inc boosted its stake in Ingersoll Rand by 20.8% during the second quarter. Ensign Peak Advisors Inc now owns 1,454,956 shares of the industrial products company’s stock worth $132,168,000 after buying an additional 250,712 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in Ingersoll Rand by 0.3% in the 3rd 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 in the last quarter. Finally, Hsbc Holdings PLC increased its stake in shares of Ingersoll Rand by 12.4% in the 2nd quarter. Hsbc Holdings PLC now owns 863,449 shares of the industrial products company’s stock worth $78,422,000 after acquiring an additional 95,371 shares during the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Stock Performance

NYSE IR opened at $105.36 on Tuesday. The company has a market cap of $42.46 billion, a P/E ratio of 51.40, a P/E/G ratio of 3.95 and a beta of 1.42. Ingersoll Rand Inc. has a 1-year low of $69.46 and a 1-year high of $106.03. 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 stock has a 50-day moving average of $99.49 and a two-hundred day moving average of $94.81.

Ingersoll Rand Dividend Announcement

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 paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.08%. The ex-dividend date is Thursday, November 14th. Ingersoll Rand’s payout ratio is currently 3.90%.

Insiders Place Their Bets

In other Ingersoll Rand news, CAO Michael J. Scheske sold 2,531 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $97.44, for a total value of $246,620.64. Following the sale, the chief accounting officer now owns 11,910 shares of the company’s stock, valued at $1,160,510.40. This trade represents a 17.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.68% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on IR shares. Wolfe Research raised shares of Ingersoll Rand to a “hold” rating in a research report on Friday, September 20th. Wells Fargo & Company increased their price target on shares of Ingersoll Rand from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Barclays raised their price target on shares of Ingersoll Rand from $101.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Cfra upped their price objective on Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a report on Friday, October 4th. Finally, Morgan Stanley began coverage on Ingersoll Rand in a research note on Friday, September 6th. They set an “equal weight” rating and a $97.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $103.83.

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.