abrdn plc Increases Stock Position in Ingersoll Rand Inc. (NYSE:IR)

abrdn plc increased its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 70.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 262,863 shares of the industrial products company’s stock after buying an additional 108,700 shares during the period. abrdn plc owned about 0.07% of Ingersoll Rand worth $23,851,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC grew its position in shares of Ingersoll Rand by 10.5% during the third quarter. FMR LLC now owns 16,152,094 shares of the industrial products company’s stock worth $1,585,489,000 after buying an additional 1,538,056 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Ingersoll Rand by 8.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 18,229,178 shares of the industrial products company’s stock valued at $1,789,376,000 after acquiring an additional 1,462,538 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Ingersoll Rand by 9,681.5% during the 3rd quarter. International Assets Investment Management LLC now owns 360,349 shares of the industrial products company’s stock worth $353,720,000 after acquiring an additional 356,665 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Ingersoll Rand by 2.5% in the 3rd quarter. Franklin Resources Inc. now owns 11,597,321 shares of the industrial products company’s stock worth $1,207,554,000 after purchasing an additional 278,710 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of Ingersoll Rand by 19.1% in the 4th quarter. Nordea Investment Management AB now owns 1,691,399 shares of the industrial products company’s stock valued at $153,867,000 after purchasing an additional 271,381 shares in the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.

Analyst Upgrades and Downgrades

IR has been the subject of a number of research reports. Citigroup decreased their price target on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Robert W. Baird lowered 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. Wells Fargo & Company reduced their price objective on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Barclays lowered their target price on shares of Ingersoll Rand from $120.00 to $115.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Finally, UBS Group began coverage on shares of Ingersoll Rand in a research report on Wednesday, November 13th. They issued a “buy” rating and a $124.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.92.

Ingersoll Rand Price Performance

NYSE IR opened at $92.18 on Friday. The company has a 50-day moving average price of $94.54 and a two-hundred day moving average price of $95.52. The stock has a market cap of $37.15 billion, a price-to-earnings ratio of 44.97, a price-to-earnings-growth ratio of 3.72 and a beta of 1.43. The company has a current ratio of 2.36, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. Ingersoll Rand Inc. has a 52 week low of $83.38 and a 52 week high of $106.03.

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.