Ingersoll Rand Inc. (NYSE:IR) Shares Purchased by Swiss National Bank

Swiss National Bank boosted its holdings in Ingersoll Rand Inc. (NYSE:IR) by 0.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,197,280 shares of the industrial products company’s stock after purchasing an additional 2,900 shares during the quarter. Swiss National Bank’s holdings in Ingersoll Rand were worth $117,525,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in IR. Ridgewood Investments LLC acquired a new position in Ingersoll Rand in the second quarter valued at $25,000. Ashton Thomas Securities LLC purchased a new stake in Ingersoll Rand during the third quarter valued at about $34,000. EverSource Wealth Advisors LLC grew its position in Ingersoll Rand by 38.5% during the first quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 126 shares during the period. UMB Bank n.a. grew its position in Ingersoll Rand by 196.8% during the second quarter. UMB Bank n.a. now owns 466 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 309 shares during the period. Finally, Eastern Bank purchased a new stake in Ingersoll Rand during the third quarter valued at about $42,000. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Ingersoll Rand Stock Performance

Shares of IR stock opened at $101.65 on Tuesday. Ingersoll Rand Inc. has a 12-month low of $69.46 and a 12-month high of $105.63. The firm has a market capitalization of $40.97 billion, a price-to-earnings ratio of 49.59, a price-to-earnings-growth ratio of 3.89 and a beta of 1.42. The business has a 50 day simple moving average of $98.12 and a 200 day simple moving average of $94.31. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.36 and a quick ratio of 1.71.

Ingersoll Rand Announces Dividend

The company 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 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 of this dividend is Thursday, November 14th. Ingersoll Rand’s payout ratio is currently 3.90%.

Insider Buying and Selling at Ingersoll Rand

In other news, CAO Michael J. Scheske sold 2,531 shares of the firm’s stock in a transaction on 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 directly 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 legal filing with the SEC, which is available through this link. Also, insider Elizabeth Meloy Hepding sold 7,500 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $91.42, for a total value of $685,650.00. Following the sale, the insider now owns 6,559 shares of the company’s stock, valued at approximately $599,623.78. This represents a 53.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,660 shares of company stock valued at $1,348,834. 0.68% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

IR has been the subject of a number of research reports. Cfra boosted their price target on 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 began coverage on Ingersoll Rand in a research report on Wednesday, November 13th. They issued a “buy” rating and a $124.00 target price for the company. Morgan Stanley started coverage on Ingersoll Rand in a research report on Friday, September 6th. They issued an “equal weight” rating and a $97.00 target price for the company. Robert W. Baird reduced their price target on Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating for the company in a report on Monday, November 4th. Finally, Barclays increased their price target on Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $103.83.

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.