The Manufacturers Life Insurance Company Has $88.57 Million Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

The Manufacturers Life Insurance Company boosted its stake in Ingersoll Rand Inc. (NYSE:IR) by 0.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 902,312 shares of the industrial products company’s stock after purchasing an additional 979 shares during the period. The Manufacturers Life Insurance Company owned about 0.22% of Ingersoll Rand worth $88,571,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Ridgewood Investments LLC bought a new position in Ingersoll Rand in the 2nd quarter valued at approximately $25,000. Ashton Thomas Securities LLC bought a new position in Ingersoll Rand in the 3rd quarter valued at approximately $34,000. EverSource Wealth Advisors LLC raised its stake in shares of 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 last quarter. UMB Bank n.a. raised its stake in shares of 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 last quarter. Finally, Eastern Bank bought a new position in shares of Ingersoll Rand during the third quarter valued at $42,000. Institutional investors own 95.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on IR shares. Stifel Nicolaus downgraded shares of Ingersoll Rand from a “buy” rating to a “hold” rating and dropped their price target for the company from $112.00 to $107.00 in a research note on Monday, November 18th. Wolfe Research raised shares of Ingersoll Rand to a “hold” rating in a research note on Friday, September 20th. Morgan Stanley began coverage on shares of Ingersoll Rand in a research note on Friday, September 6th. They set an “equal weight” rating and a $97.00 price target for the company. Evercore ISI lowered their target price on shares of Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Finally, UBS Group began coverage on shares of Ingersoll Rand in a research note on Wednesday, November 13th. They set a “buy” rating and a $124.00 target price for the company. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Ingersoll Rand presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.83.

Ingersoll Rand Stock Down 0.7 %

Shares of NYSE IR opened at $104.05 on Thursday. The stock has a market capitalization of $41.93 billion, a P/E ratio of 50.76, a P/E/G ratio of 4.00 and a beta of 1.42. The company has a 50-day moving average price of $99.91 and a 200-day moving average price of $94.97. Ingersoll Rand Inc. has a 1 year low of $69.46 and a 1 year high of $106.03. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 14th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.08%. The ex-dividend date is Thursday, November 14th. Ingersoll Rand’s payout ratio is currently 3.90%.

Insider Activity at Ingersoll Rand

In related news, CAO Michael J. Scheske sold 2,531 shares of the firm’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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.68% of the stock is owned by 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.