Franklin Resources Inc. Purchases 278,710 Shares of Ingersoll Rand Inc. (NYSE:IR)

Franklin Resources Inc. grew its position in Ingersoll Rand Inc. (NYSE:IR) by 2.5% during the third quarter, HoldingsChannel reports. The firm owned 11,597,321 shares of the industrial products company’s stock after buying an additional 278,710 shares during the quarter. Franklin Resources Inc.’s holdings in Ingersoll Rand were worth $1,207,554,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of IR. Ridgewood Investments LLC acquired a new stake in shares of Ingersoll Rand in the second quarter worth $25,000. Ashton Thomas Securities LLC acquired a new stake in shares of Ingersoll Rand in the third quarter worth $34,000. UMB Bank n.a. grew its stake in shares of Ingersoll Rand by 196.8% in the second quarter. UMB Bank n.a. now owns 466 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 309 shares during the last quarter. Eastern Bank acquired a new stake in shares of Ingersoll Rand in the third quarter worth $42,000. Finally, Rothschild Investment LLC acquired a new stake in shares of Ingersoll Rand in the second quarter worth $43,000. Institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Trading Down 0.3 %

NYSE:IR opened at $101.42 on Friday. Ingersoll Rand Inc. has a twelve month low of $73.52 and a twelve month high of $106.03. The company has a quick ratio of 1.71, a current ratio of 2.36 and a debt-to-equity ratio of 0.46. The business has a 50 day moving average price of $101.10 and a two-hundred day moving average price of $95.69. The company has a market cap of $40.87 billion, a P/E ratio of 49.47, a price-to-earnings-growth ratio of 3.86 and a beta of 1.42.

Ingersoll Rand Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.08%. The ex-dividend date was Thursday, November 14th. Ingersoll Rand’s dividend payout ratio is currently 3.90%.

Wall Street Analysts Forecast Growth

IR has been the topic of a number of recent research reports. Wells Fargo & Company lifted their price target on shares of Ingersoll Rand from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. UBS Group initiated coverage on shares of Ingersoll Rand in a research note on Wednesday, November 13th. They set a “buy” rating and a $124.00 price target on the stock. Barclays lifted their price target on shares of Ingersoll Rand from $105.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Citigroup lifted their price target on shares of Ingersoll Rand from $112.00 to $119.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Morgan Stanley initiated coverage on shares of Ingersoll Rand in a research note on Friday, September 6th. They set an “equal weight” rating and a $97.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $107.67.

Insider Transactions at Ingersoll Rand

In other 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 transaction of $246,620.64. Following the sale, the chief accounting officer now owns 11,910 shares in the company, valued at $1,160,510.40. This represents a 17.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Company 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.