The Manufacturers Life Insurance Company Buys 979 Shares of Ingersoll Rand Inc. (NYSE:IR)

The Manufacturers Life Insurance Company grew its holdings in Ingersoll Rand Inc. (NYSE:IR) by 0.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 902,312 shares of the industrial products company’s stock after purchasing an additional 979 shares during the period. The Manufacturers Life Insurance Company’s holdings in Ingersoll Rand were worth $88,571,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. DRW Securities LLC bought a new stake in shares of Ingersoll Rand in the third quarter valued at approximately $543,000. Fisher Asset Management LLC grew its stake in Ingersoll Rand by 1.7% during the third quarter. Fisher Asset Management LLC now owns 6,744,839 shares of the industrial products company’s stock valued at $662,074,000 after acquiring an additional 114,727 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in Ingersoll Rand by 9.4% during the third quarter. Daiwa Securities Group Inc. now owns 90,827 shares of the industrial products company’s stock valued at $8,916,000 after acquiring an additional 7,784 shares in the last quarter. Hartford Funds Management Co LLC grew its stake in Ingersoll Rand by 15.0% during the third quarter. Hartford Funds Management Co LLC now owns 6,795 shares of the industrial products company’s stock valued at $667,000 after acquiring an additional 884 shares in the last quarter. Finally, Raymond James Trust N.A. grew its stake in Ingersoll Rand by 3.1% during the third quarter. Raymond James Trust N.A. now owns 15,511 shares of the industrial products company’s stock valued at $1,523,000 after acquiring an additional 462 shares in the last quarter. Institutional investors own 95.27% of the company’s stock.

Insider Transactions at Ingersoll Rand

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 sale, the chief accounting officer now directly owns 11,910 shares in the company, valued at $1,160,510.40. This represents a 17.53 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.68% of the company’s stock.

Ingersoll Rand Trading Down 0.7 %

Shares of IR opened at $104.05 on Thursday. The firm has a market cap of $41.93 billion, a price-to-earnings ratio of 50.76, a PEG ratio of 4.00 and a beta of 1.42. 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 $106.03. The firm has a 50 day moving average price of $99.91 and a 200-day moving average price of $94.97.

Ingersoll Rand Dividend Announcement

The firm also recently disclosed 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 payout ratio is 3.90%.

Analyst Ratings Changes

Several brokerages recently commented on IR. Stifel Nicolaus cut shares of Ingersoll Rand from a “buy” rating to a “hold” rating and reduced their price objective for the company from $112.00 to $107.00 in a research note on Monday, November 18th. Cfra boosted their price target on shares of Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. Wolfe Research raised shares of Ingersoll Rand to a “hold” rating in a research note on Friday, September 20th. Wells Fargo & Company boosted 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. Finally, Evercore ISI cut their price target on shares of Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $103.83.

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.