Massachusetts Financial Services Co. MA Reduces Stock Position in Ingersoll Rand Inc. (NYSE:IR)

Massachusetts Financial Services Co. MA reduced its position in Ingersoll Rand Inc. (NYSE:IR) by 20.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,359,960 shares of the industrial products company’s stock after selling 590,356 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.59% of Ingersoll Rand worth $231,654,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of IR. Dimensional Fund Advisors LP increased its holdings in Ingersoll Rand by 6.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,462,558 shares of the industrial products company’s stock valued at $314,549,000 after buying an additional 224,463 shares during the period. Ensign Peak Advisors Inc raised its holdings in shares of 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 purchasing an additional 250,712 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in Ingersoll Rand by 0.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 963,167 shares of the industrial products company’s stock worth $94,544,000 after acquiring an additional 2,458 shares during the period. Hsbc Holdings PLC boosted its holdings in Ingersoll Rand by 12.4% during the second quarter. Hsbc Holdings PLC now owns 863,449 shares of the industrial products company’s stock worth $78,422,000 after buying an additional 95,371 shares in the last quarter. Finally, Swedbank AB grew its position in shares of Ingersoll Rand by 34.0% during the 2nd quarter. Swedbank AB now owns 780,712 shares of the industrial products company’s stock valued at $70,920,000 after acquiring an additional 198,200 shares during the period. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Insider Activity

In other Ingersoll Rand news, CAO Michael J. Scheske sold 2,531 shares of Ingersoll Rand stock in a transaction dated Tuesday, November 5th. The shares were 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 owns 11,910 shares in the company, valued at approximately $1,160,510.40. The trade was a 17.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Kathleen M. Keene sold 4,629 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $89.99, for a total value of $416,563.71. Following the sale, the insider now owns 3,829 shares in the company, valued at approximately $344,571.71. This trade represents a 54.73 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Wolfe Research upgraded shares of Ingersoll Rand to a “hold” rating in a research report on Friday, September 20th. Robert W. Baird reduced their target price on Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Wells Fargo & Company lifted their target price on shares of Ingersoll Rand from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Morgan Stanley started coverage on shares of Ingersoll Rand in a report on Friday, September 6th. They set an “equal weight” rating and a $97.00 target price on the stock. Finally, Cfra boosted their price target on shares of Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $103.83.

Ingersoll Rand Stock Performance

Shares of Ingersoll Rand stock 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. Ingersoll Rand Inc. has a 12 month low of $69.46 and a 12 month high of $105.63. The firm’s fifty day simple moving average is $99.20 and its 200-day simple moving average is $94.65. The stock has a market capitalization of $41.91 billion, a price-to-earnings ratio of 50.73, a PEG ratio of 3.88 and a beta of 1.42.

Ingersoll Rand Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders 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 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 Company 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.