MML Investors Services LLC Grows Position in Ingersoll Rand Inc. (NYSE:IR)

MML Investors Services LLC grew its position in Ingersoll Rand Inc. (NYSE:IR) by 504.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,188 shares of the industrial products company’s stock after acquiring an additional 41,044 shares during the quarter. MML Investors Services LLC’s holdings in Ingersoll Rand were worth $4,828,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of IR. Daiwa Securities Group Inc. boosted its stake in Ingersoll Rand by 9.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 90,827 shares of the industrial products company’s stock worth $8,916,000 after purchasing an additional 7,784 shares during the period. GDS Wealth Management grew its holdings in shares of Ingersoll Rand by 6.4% during the third quarter. GDS Wealth Management now owns 167,248 shares of the industrial products company’s stock worth $16,417,000 after buying an additional 10,081 shares during the last quarter. Intech Investment Management LLC increased its position in Ingersoll Rand by 28.2% in the 3rd quarter. Intech Investment Management LLC now owns 101,745 shares of the industrial products company’s stock valued at $9,987,000 after acquiring an additional 22,401 shares during the period. AXA S.A. raised its stake in Ingersoll Rand by 81.4% during the 2nd quarter. AXA S.A. now owns 87,829 shares of the industrial products company’s stock valued at $7,978,000 after acquiring an additional 39,417 shares during the last quarter. Finally, Candriam S.C.A. lifted its position in Ingersoll Rand by 3.0% during the 2nd quarter. Candriam S.C.A. now owns 199,419 shares of the industrial products company’s stock worth $18,114,000 after acquiring an additional 5,797 shares during the period. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Michael J. Scheske sold 2,531 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $97.44, for a total value of $246,620.64. Following the sale, the chief accounting officer now owns 11,910 shares of the company’s stock, valued at approximately $1,160,510.40. This represents a 17.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.68% of the company’s stock.

Analysts Set New Price Targets

IR has been the subject of several analyst reports. Morgan Stanley assumed coverage on 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 reduced 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. Wolfe Research upgraded shares of Ingersoll Rand to a “hold” rating in a research note on Friday, September 20th. Cfra raised their price objective on shares of Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Finally, Wells Fargo & Company boosted their target price on Ingersoll Rand from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Seven equities research 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.67.

Ingersoll Rand Stock Performance

Shares of IR stock opened at $101.10 on Friday. The stock has a fifty day moving average price of $101.10 and a 200 day moving average price of $95.73. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.36. The stock has a market cap of $40.74 billion, a PE ratio of 49.32, a P/E/G ratio of 3.86 and a beta of 1.42. Ingersoll Rand Inc. has a 1 year low of $74.01 and a 1 year high of $106.03.

Ingersoll Rand Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th were 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 was 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.