New York State Common Retirement Fund cut its stake in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 14.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 318,957 shares of the industrial products company's stock after selling 55,924 shares during the quarter. New York State Common Retirement Fund owned approximately 0.08% of Ingersoll Rand worth $31,309,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in IR. Capital International Investors lifted its holdings in Ingersoll Rand by 113.7% in the first quarter. Capital International Investors now owns 26,166,256 shares of the industrial products company's stock valued at $2,484,486,000 after buying an additional 13,919,775 shares during the period. JPMorgan Chase & Co. raised its position in shares of Ingersoll Rand by 28.4% in the 1st quarter. JPMorgan Chase & Co. now owns 15,977,246 shares of the industrial products company's stock worth $1,517,040,000 after acquiring an additional 3,535,543 shares in the last quarter. Capital Research Global Investors lifted its stake in shares of Ingersoll Rand by 15.3% in the 1st quarter. Capital Research Global Investors now owns 11,316,241 shares of the industrial products company's stock valued at $1,074,477,000 after purchasing an additional 1,504,414 shares during the period. Capital World Investors bought a new stake in shares of Ingersoll Rand during the 1st quarter valued at about $440,401,000. Finally, Dimensional Fund Advisors LP grew its stake in Ingersoll Rand by 6.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,462,558 shares of the industrial products company's stock worth $314,549,000 after purchasing an additional 224,463 shares during the period. Institutional investors own 95.27% of the company's stock.
Several equities analysts have issued reports on IR shares. Barclays boosted their price target on Ingersoll Rand from $101.00 to $105.00 and gave the company an "overweight" rating in a research note on Wednesday, October 2nd. Stifel Nicolaus boosted their target price on shares of Ingersoll Rand from $101.00 to $112.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. Morgan Stanley began coverage on shares of Ingersoll Rand in a report on Friday, September 6th. They issued an "equal weight" rating and a $97.00 price target for the company. Evercore ISI dropped their price objective on shares of Ingersoll Rand from $93.00 to $88.00 and set an "in-line" rating on the stock in a report on Monday, August 19th. Finally, Wolfe Research upgraded Ingersoll Rand to a "hold" rating in a research note on Friday, September 20th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Ingersoll Rand currently has a consensus rating of "Moderate Buy" and an average price target of $102.17.
Read Our Latest Research Report on Ingersoll Rand
Shares of IR opened at $93.97 on Monday. Ingersoll Rand Inc. has a 52 week low of $62.12 and a 52 week high of $102.74. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.52 and a current ratio of 2.18. The stock has a 50 day moving average price of $95.32 and a two-hundred day moving average price of $93.50. The firm has a market capitalization of $37.92 billion, a P/E ratio of 45.84, a P/E/G ratio of 2.63 and a beta of 1.42.
The business 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 $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date of this dividend is Thursday, November 14th. Ingersoll Rand's payout ratio is currently 3.90%.
In other news, insider Vicente Reynal sold 50,000 shares of the company's stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $92.51, for a total value of $4,625,500.00. Following the completion of the sale, the insider now owns 100,367 shares in the company, valued at $9,284,951.17. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Ingersoll Rand news, insider Elizabeth Meloy Hepding sold 7,500 shares of the business's stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $91.42, for a total value of $685,650.00. Following the transaction, the insider now owns 6,559 shares of the company's stock, valued at approximately $599,623.78. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Vicente Reynal sold 50,000 shares of the firm's stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $92.51, for a total value of $4,625,500.00. Following the sale, the insider now directly owns 100,367 shares of the company's stock, valued at approximately $9,284,951.17. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 77,510 shares of company stock worth $7,108,005. Corporate insiders own 0.68% of the company's stock.
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.
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