Avanza Fonder AB Makes New $2.73 Million Investment in Ingersoll Rand Inc. (NYSE:IR)

Avanza Fonder AB acquired a new stake in Ingersoll Rand Inc. (NYSE:IR) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 30,135 shares of the industrial products company’s stock, valued at approximately $2,726,000.

Other institutional investors also recently made changes to their positions in the company. American Century Companies Inc. boosted its position in Ingersoll Rand by 32.2% during the second quarter. American Century Companies Inc. now owns 75,719 shares of the industrial products company’s stock valued at $6,878,000 after buying an additional 18,449 shares during the period. Edgestream Partners L.P. bought a new stake in shares of Ingersoll Rand in the 2nd quarter valued at about $775,000. Argent Trust Co boosted its holdings in Ingersoll Rand by 4.2% during the 2nd quarter. Argent Trust Co now owns 4,888 shares of the industrial products company’s stock valued at $444,000 after acquiring an additional 195 shares during the period. Vanguard Personalized Indexing Management LLC grew its position in Ingersoll Rand by 11.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 32,836 shares of the industrial products company’s stock worth $2,983,000 after acquiring an additional 3,342 shares during the last quarter. Finally, Blair William & Co. IL increased its stake in Ingersoll Rand by 2.7% in the 2nd quarter. Blair William & Co. IL now owns 12,749 shares of the industrial products company’s stock worth $1,158,000 after purchasing an additional 331 shares during the period. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Analyst Upgrades and Downgrades

IR has been the topic of several recent analyst reports. Barclays cut their target price on shares of Ingersoll Rand from $120.00 to $115.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. UBS Group began coverage on shares of Ingersoll Rand in a report on Wednesday, November 13th. They issued a “buy” rating and a $124.00 price target on the stock. The Goldman Sachs Group upped their price objective on shares of Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Cfra raised their target price on Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. Finally, 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 research report on Monday, November 4th. Seven 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, Ingersoll Rand has a consensus rating of “Moderate Buy” and an average price target of $106.50.

Ingersoll Rand Stock Performance

IR opened at $91.90 on Friday. The firm has a market cap of $37.04 billion, a P/E ratio of 44.83, a PEG ratio of 3.17 and a beta of 1.44. Ingersoll Rand Inc. has a 1-year low of $77.16 and a 1-year high of $106.03. The company has a 50 day simple moving average of $97.56 and a two-hundred day simple moving average of $95.67. 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 Announces Dividend

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

Insider Buying and Selling

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