Principal Financial Group Inc. Has $45.88 Million Position in Ingersoll Rand Inc. (NYSE:IR)

Principal Financial Group Inc. raised its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 0.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 467,439 shares of the industrial products company’s stock after purchasing an additional 3,165 shares during the period. Principal Financial Group Inc. owned 0.12% of Ingersoll Rand worth $45,884,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Virtu Financial LLC acquired a new position in shares of Ingersoll Rand in the third quarter worth approximately $864,000. Daiwa Securities Group Inc. raised its holdings in Ingersoll Rand by 9.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 90,827 shares of the industrial products company’s stock worth $8,916,000 after purchasing an additional 7,784 shares during the last quarter. GDS Wealth Management lifted its position in shares of Ingersoll Rand by 6.4% in the 3rd quarter. GDS Wealth Management now owns 167,248 shares of the industrial products company’s stock worth $16,417,000 after purchasing an additional 10,081 shares during the period. Intech Investment Management LLC boosted its stake in shares of Ingersoll Rand by 28.2% in the 3rd quarter. Intech Investment Management LLC now owns 101,745 shares of the industrial products company’s stock valued at $9,987,000 after purchasing an additional 22,401 shares during the last quarter. Finally, AXA S.A. increased its position in shares of Ingersoll Rand by 81.4% during the second quarter. AXA S.A. now owns 87,829 shares of the industrial products company’s stock worth $7,978,000 after buying an additional 39,417 shares during the period. 95.27% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Michael J. Scheske sold 2,531 shares of the firm’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 of the company’s stock, valued at $1,160,510.40. This trade represents a 17.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.68% of the stock is currently owned by corporate insiders.

Ingersoll Rand Price Performance

Shares of NYSE IR opened at $92.28 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.36. The firm’s 50-day simple moving average is $100.63 and its 200 day simple moving average is $95.88. The stock has a market cap of $37.19 billion, a price-to-earnings ratio of 45.01, a PEG ratio of 3.86 and a beta of 1.42. Ingersoll Rand Inc. has a fifty-two week low of $74.01 and a fifty-two week high of $106.03.

Ingersoll Rand Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Thursday, November 14th were given a dividend of $0.02 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Ingersoll Rand’s payout ratio is 3.90%.

Analyst Upgrades and Downgrades

A number of analysts have commented on IR shares. UBS Group assumed coverage on shares of Ingersoll Rand in a research report on Wednesday, November 13th. They set a “buy” rating and a $124.00 price target on the stock. Morgan Stanley initiated coverage on Ingersoll Rand in a research note on Friday, September 6th. They set an “equal weight” rating and a $97.00 target price for the company. Barclays boosted their price target on Ingersoll Rand from $105.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Citigroup raised their price objective on shares of Ingersoll Rand from $112.00 to $119.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, The Goldman Sachs Group boosted their target price on shares of Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.67.

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.