Sumitomo Mitsui Trust Group Inc. Increases Stake 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% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 963,167 shares of the industrial products company’s stock after buying an additional 2,458 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Ingersoll Rand were worth $94,544,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ridgewood Investments LLC purchased a new stake in Ingersoll Rand in the second quarter worth about $25,000. Headlands Technologies LLC purchased a new stake in Ingersoll Rand in the first quarter worth about $28,000. Ashton Thomas Securities LLC purchased a new stake in Ingersoll Rand in the third quarter worth about $34,000. ESL Trust Services LLC purchased a new stake in Ingersoll Rand in the first quarter worth about $35,000. Finally, Eastern Bank purchased a new stake in Ingersoll Rand in the third quarter worth about $42,000. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Analysts Set New Price Targets

IR has been the topic of a number of recent research reports. Morgan Stanley initiated coverage on shares of Ingersoll Rand in a report on Friday, September 6th. They issued an “equal weight” rating and a $97.00 price objective on the stock. UBS Group assumed coverage on shares of Ingersoll Rand in a report on Wednesday. They issued a “buy” rating and a $124.00 price objective on the stock. Stifel Nicolaus increased their price target on shares of Ingersoll Rand from $101.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Wolfe Research raised shares of Ingersoll Rand to a “hold” rating in a research report on Friday, September 20th. Finally, Barclays raised their price target on shares of Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ingersoll Rand presently has an average rating of “Moderate Buy” and a consensus price target of $104.25.

Insider Buying and Selling

In related news, insider Elizabeth Meloy Hepding sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were 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 in the company, valued at approximately $599,623.78. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other 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 owns 3,829 shares in the company, valued at $344,571.71. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Elizabeth Meloy Hepding sold 7,500 shares of Ingersoll Rand stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $91.42, for a total transaction of $685,650.00. Following the transaction, the insider now owns 6,559 shares in the company, valued at $599,623.78. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,660 shares of company stock worth $1,348,834. 0.68% of the stock is owned by insiders.

Ingersoll Rand Trading Up 0.1 %

Shares of IR stock opened at $104.35 on Thursday. Ingersoll Rand Inc. has a 12-month low of $69.29 and a 12-month high of $105.63. The company has a current ratio of 2.36, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The firm’s 50 day moving average is $96.87 and its 200 day moving average is $94.04. The stock has a market capitalization of $42.05 billion, a P/E ratio of 50.90, a P/E/G ratio of 3.96 and a beta of 1.42.

Ingersoll Rand Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 14th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.08%. The ex-dividend date is Thursday, November 14th. Ingersoll Rand’s dividend payout ratio is currently 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.