Hartford Funds Management Co LLC Acquires 884 Shares of Ingersoll Rand Inc. (NYSE:IR)

Hartford Funds Management Co LLC grew its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 15.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,795 shares of the industrial products company’s stock after purchasing an additional 884 shares during the quarter. Hartford Funds Management Co LLC’s holdings in Ingersoll Rand were worth $667,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in IR. Swedbank AB bought a new position in Ingersoll Rand during the 1st quarter worth approximately $55,310,000. International Assets Investment Management LLC increased its stake in shares of Ingersoll Rand by 9,681.5% in the 3rd quarter. International Assets Investment Management LLC now owns 360,349 shares of the industrial products company’s stock valued at $353,720,000 after acquiring an additional 356,665 shares in the last quarter. Ensign Peak Advisors Inc increased its stake in shares of Ingersoll Rand by 20.8% in the 2nd quarter. Ensign Peak Advisors Inc now owns 1,454,956 shares of the industrial products company’s stock valued at $132,168,000 after acquiring an additional 250,712 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Ingersoll Rand by 6.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,462,558 shares of the industrial products company’s stock valued at $314,549,000 after acquiring an additional 224,463 shares in the last quarter. Finally, Robeco Schweiz AG increased its stake in shares of Ingersoll Rand by 52.8% in the 2nd quarter. Robeco Schweiz AG now owns 521,365 shares of the industrial products company’s stock valued at $47,361,000 after acquiring an additional 180,168 shares in the last quarter. Institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Price Performance

IR opened at $104.00 on Friday. 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 company has a market capitalization of $41.91 billion, a price-to-earnings ratio of 50.73, a P/E/G ratio of 3.91 and a beta of 1.42. The firm’s fifty day moving average price is $99.20 and its two-hundred day moving average price is $94.68. Ingersoll Rand Inc. has a 1 year low of $69.46 and a 1 year high of $105.63.

Ingersoll Rand Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.08%. The ex-dividend date is Thursday, November 14th. Ingersoll Rand’s dividend payout ratio is 3.90%.

Analyst Ratings Changes

Several analysts have recently weighed in on IR shares. Robert W. Baird lowered their price objective on shares of Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. 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. UBS Group started coverage on shares of Ingersoll Rand in a research note on Wednesday, November 13th. They issued a “buy” rating and a $124.00 price objective for the company. Wolfe Research upgraded shares of Ingersoll Rand to a “hold” rating in a research note on Friday, September 20th. Finally, Stifel Nicolaus lowered shares of Ingersoll Rand from a “buy” rating to a “hold” rating and lowered their price objective for the company from $112.00 to $107.00 in a research note on Monday, November 18th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Ingersoll Rand has an average rating of “Moderate Buy” and a consensus target price of $103.83.

Insiders Place Their Bets

In other Ingersoll Rand news, insider Kathleen M. Keene sold 4,629 shares of Ingersoll Rand stock in a transaction on 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 $344,571.71. The trade was a 54.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 transaction, the chief accounting officer now directly owns 11,910 shares in the company, valued at $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 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.