Charles Schwab Investment Management Inc. Has $216.76 Million Holdings in Ingersoll Rand Inc. (NYSE:IR)

Charles Schwab Investment Management Inc. increased its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 1.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,208,267 shares of the industrial products company’s stock after purchasing an additional 21,289 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Ingersoll Rand were worth $216,763,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ridgewood Investments LLC acquired a new position in Ingersoll Rand in the second quarter valued at about $25,000. Ashton Thomas Securities LLC acquired a new position in Ingersoll Rand during the third quarter valued at approximately $34,000. Eastern Bank bought a new position in shares of Ingersoll Rand during the third quarter worth $42,000. EverSource Wealth Advisors LLC grew its holdings in shares of Ingersoll Rand by 38.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company’s stock valued at $42,000 after buying an additional 126 shares during the period. Finally, UMB Bank n.a. lifted its holdings in shares of Ingersoll Rand by 196.8% during the 2nd quarter. UMB Bank n.a. now owns 466 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 309 shares in the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Stifel Nicolaus cut Ingersoll Rand from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $112.00 to $107.00 in a research report on Monday, November 18th. Wolfe Research upgraded Ingersoll Rand to a “hold” rating in a research note on Friday, September 20th. Evercore ISI lowered their target price 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. Cfra upped their target price on shares of Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a report on Friday, October 4th. Finally, UBS Group began coverage on 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 assigned a buy rating to the company. According to data from MarketBeat, Ingersoll Rand currently has a consensus rating of “Moderate Buy” and an average target price of $103.83.

Insider Activity

In other Ingersoll Rand news, insider Kathleen M. Keene sold 4,629 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $89.99, for a total value of $416,563.71. Following the completion of the transaction, the insider now directly owns 3,829 shares in the company, valued at approximately $344,571.71. This trade represents a 54.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Michael J. Scheske sold 2,531 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $1,160,510.40. This trade represents a 17.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by corporate insiders.

Ingersoll Rand Trading Up 0.9 %

Shares of IR stock opened at $104.00 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.36. Ingersoll Rand Inc. has a fifty-two week low of $69.46 and a fifty-two week high of $105.63. The company has a market cap of $41.91 billion, a PE ratio of 50.73, a P/E/G ratio of 3.91 and a beta of 1.42. The stock’s fifty day moving average price is $99.20 and its two-hundred day moving average price is $94.68.

Ingersoll Rand Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th will be issued a $0.02 dividend. The ex-dividend date is Thursday, November 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.08%. Ingersoll Rand’s dividend payout ratio (DPR) is currently 3.90%.

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.