Ingersoll Rand Inc. (NYSE:IR) Shares Bought by Franklin Resources Inc.

Franklin Resources Inc. lifted its holdings in Ingersoll Rand Inc. (NYSE:IR) by 2.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,597,321 shares of the industrial products company’s stock after acquiring an additional 278,710 shares during the period. Franklin Resources Inc. owned approximately 2.88% of Ingersoll Rand worth $1,207,554,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. FMR LLC increased its holdings in shares of Ingersoll Rand by 10.5% in the 3rd quarter. FMR LLC now owns 16,152,094 shares of the industrial products company’s stock worth $1,585,489,000 after acquiring an additional 1,538,056 shares during the period. International Assets Investment Management LLC increased its holdings in shares of Ingersoll Rand by 9,681.5% in 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 during the period. Ensign Peak Advisors Inc increased its stake in Ingersoll Rand by 20.8% during the 2nd quarter. Ensign Peak Advisors Inc now owns 1,454,956 shares of the industrial products company’s stock valued at $132,168,000 after buying an additional 250,712 shares during the period. Dimensional Fund Advisors LP increased its stake in Ingersoll Rand by 6.9% during the 2nd 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. Finally, Swedbank AB increased its stake in 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 buying an additional 198,200 shares during the period. Institutional investors and hedge funds own 95.27% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Wells Fargo & Company raised their target price on shares of Ingersoll Rand from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Cfra raised their target price on shares of Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a research note on Friday, October 4th. Robert W. Baird lowered their target price on shares of Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Stifel Nicolaus lowered shares of Ingersoll Rand from a “buy” rating to a “hold” rating and reduced their price objective for the company from $112.00 to $107.00 in a research report on Monday, November 18th. Finally, The Goldman Sachs Group raised their price objective on shares of Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a research report on Thursday. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.67.

Ingersoll Rand Stock Performance

Shares of IR opened at $101.42 on Friday. Ingersoll Rand Inc. has a one year low of $73.52 and a one year high of $106.03. The company has a 50-day moving average of $101.10 and a two-hundred day moving average of $95.69. The stock has a market cap of $40.87 billion, a price-to-earnings ratio of 49.47, a PEG ratio of 3.86 and a beta of 1.42. 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 announced a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th were issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.08%. The ex-dividend date was Thursday, November 14th. Ingersoll Rand’s payout ratio is 3.90%.

Insiders Place Their Bets

In related news, CAO Michael J. Scheske sold 2,531 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at approximately $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 SEC, which can be accessed through the SEC website. Corporate insiders own 0.68% of the company’s stock.

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.