Ingersoll Rand Inc. (NYSE:IR) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 8.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,229,178 shares of the industrial products company’s stock after acquiring an additional 1,462,538 shares during the period. JPMorgan Chase & Co. owned about 4.52% of Ingersoll Rand worth $1,789,376,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of IR. Virtu Financial LLC bought a new stake in Ingersoll Rand during the third quarter valued at $864,000. Daiwa Securities Group Inc. lifted its holdings in Ingersoll Rand by 9.4% in the third quarter. Daiwa Securities Group Inc. now owns 90,827 shares of the industrial products company’s stock worth $8,916,000 after acquiring an additional 7,784 shares during the last quarter. GDS Wealth Management boosted its stake in Ingersoll Rand by 6.4% in the third quarter. GDS Wealth Management now owns 167,248 shares of the industrial products company’s stock valued at $16,417,000 after acquiring an additional 10,081 shares during the period. Intech Investment Management LLC grew its holdings in shares of Ingersoll Rand by 28.2% during the third quarter. Intech Investment Management LLC now owns 101,745 shares of the industrial products company’s stock valued at $9,987,000 after purchasing an additional 22,401 shares during the last quarter. Finally, AXA S.A. raised its position in shares of Ingersoll Rand by 81.4% during the 2nd quarter. AXA S.A. now owns 87,829 shares of the industrial products company’s stock worth $7,978,000 after purchasing an additional 39,417 shares during the period. Institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Price Performance

NYSE IR opened at $92.28 on Friday. Ingersoll Rand Inc. has a 1 year low of $74.01 and a 1 year high of $106.03. The business’s fifty day moving average is $99.91 and its two-hundred day moving average is $95.92. The stock has a market capitalization of $37.19 billion, a P/E ratio of 45.01, a P/E/G ratio of 3.86 and a beta of 1.42. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.36.

Ingersoll Rand Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th were issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. The ex-dividend date was Thursday, November 14th. Ingersoll Rand’s dividend payout ratio is 3.90%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on IR shares. Morgan Stanley started coverage on Ingersoll Rand in a research note on Friday, September 6th. They set an “equal weight” rating and a $97.00 price objective for the company. Robert W. Baird dropped their price objective on shares of Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. Wolfe Research raised shares of Ingersoll Rand to a “hold” rating in a research note on Friday, September 20th. Citigroup raised their price target on shares of Ingersoll Rand from $112.00 to $119.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Cfra boosted their price objective on Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Ingersoll Rand has a consensus rating of “Moderate Buy” and an average price target of $107.67.

Insider Activity at Ingersoll Rand

In other Ingersoll Rand news, CAO Michael J. Scheske sold 2,531 shares of the company’s 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 sale, the chief accounting officer now directly owns 11,910 shares of the company’s stock, valued at approximately $1,160,510.40. This represents a 17.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.68% of the stock is currently owned by corporate insiders.

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.