Forsta AP Fonden Has $7.86 Million Stake in Ingersoll Rand Inc. (NYSE:IR)

Forsta AP Fonden cut its position in Ingersoll Rand Inc. (NYSE:IR) by 3.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 86,900 shares of the industrial products company’s stock after selling 2,800 shares during the period. Forsta AP Fonden’s holdings in Ingersoll Rand were worth $7,861,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. FMR LLC lifted its holdings in Ingersoll Rand by 10.5% during the 3rd quarter. FMR LLC now owns 16,152,094 shares of the industrial products company’s stock worth $1,585,489,000 after buying an additional 1,538,056 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Ingersoll Rand by 8.7% in the third quarter. JPMorgan Chase & Co. now owns 18,229,178 shares of the industrial products company’s stock worth $1,789,376,000 after acquiring an additional 1,462,538 shares during the period. International Assets Investment Management LLC boosted its holdings in Ingersoll Rand by 9,681.5% in the third quarter. International Assets Investment Management LLC now owns 360,349 shares of the industrial products company’s stock valued at $353,720,000 after acquiring an additional 356,665 shares during the last quarter. Franklin Resources Inc. increased its position in Ingersoll Rand by 2.5% during the 3rd quarter. Franklin Resources Inc. now owns 11,597,321 shares of the industrial products company’s stock valued at $1,207,554,000 after purchasing an additional 278,710 shares during the period. Finally, Nordea Investment Management AB raised its holdings in Ingersoll Rand by 19.1% during the 4th quarter. Nordea Investment Management AB now owns 1,691,399 shares of the industrial products company’s stock worth $153,867,000 after purchasing an additional 271,381 shares during the last quarter. 95.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Michael J. Scheske sold 2,531 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $97.44, for a total transaction of $246,620.64. Following the transaction, the chief accounting officer now directly owns 11,910 shares in the company, valued at approximately $1,160,510.40. The trade was a 17.53 % 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. Corporate insiders own 0.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on IR. Wells Fargo & Company decreased their price objective on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. The Goldman Sachs Group lifted their price objective on Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. UBS Group started coverage on Ingersoll Rand in a research report on Wednesday, November 13th. They set a “buy” rating and a $124.00 target price on the stock. Stifel Nicolaus lowered their target price on Ingersoll Rand from $107.00 to $100.00 and set a “hold” rating for the company in a report on Friday, January 24th. Finally, Citigroup reduced their price objective on shares of Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $105.92.

Ingersoll Rand Price Performance

Shares of NYSE IR opened at $93.91 on Friday. The stock has a market cap of $37.85 billion, a price-to-earnings ratio of 45.81, a PEG ratio of 3.73 and a beta of 1.44. 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 $79.73 and a fifty-two week high of $106.03. The firm’s 50-day simple moving average is $95.66 and its 200 day simple moving average is $95.70.

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.