Ingersoll Rand Inc. (NYSE:IR) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. lowered its position in shares of Ingersoll Rand Inc. (NYSE:IRGet Rating) by 0.7% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,982,224 shares of the industrial products company’s stock after selling 14,866 shares during the quarter. Franklin Resources Inc.’s holdings in Ingersoll Rand were worth $83,412,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Rhumbline Advisers grew its holdings in Ingersoll Rand by 11.5% in the 2nd quarter. Rhumbline Advisers now owns 704,314 shares of the industrial products company’s stock worth $29,638,000 after buying an additional 72,430 shares in the last quarter. Cetera Advisor Networks LLC grew its holdings in Ingersoll Rand by 3.1% in the 2nd quarter. Cetera Advisor Networks LLC now owns 33,084 shares of the industrial products company’s stock worth $1,392,000 after buying an additional 993 shares in the last quarter. CoreCap Advisors LLC bought a new position in Ingersoll Rand in the 2nd quarter worth approximately $33,000. Deutsche Bank AG boosted its stake in Ingersoll Rand by 7.7% during the 2nd quarter. Deutsche Bank AG now owns 1,337,025 shares of the industrial products company’s stock valued at $56,263,000 after purchasing an additional 95,319 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in Ingersoll Rand during the 2nd quarter valued at $610,000. Institutional investors and hedge funds own 99.89% of the company’s stock.

Ingersoll Rand Price Performance

IR opened at $53.64 on Thursday. The stock has a fifty day moving average of $48.62 and a 200-day moving average of $47.11. The firm has a market capitalization of $21.72 billion, a P/E ratio of 32.31 and a beta of 1.47. Ingersoll Rand Inc. has a 12-month low of $39.28 and a 12-month high of $62.64. The company has a quick ratio of 1.79, a current ratio of 2.46 and a debt-to-equity ratio of 0.31.

Ingersoll Rand Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Wednesday, November 16th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Tuesday, November 15th. This represents a $0.08 annualized dividend and a dividend yield of 0.15%. Ingersoll Rand’s dividend payout ratio is 4.82%.

Wall Street Analyst Weigh In

IR has been the subject of a number of research reports. Wells Fargo & Company increased their price target on Ingersoll Rand from $51.00 to $57.00 and gave the company an “overweight” rating in a research note on Friday, November 4th. Robert W. Baird increased their price target on Ingersoll Rand from $52.00 to $57.00 in a research note on Friday, August 5th. Morgan Stanley increased their price objective on Ingersoll Rand from $53.00 to $57.00 and gave the company an “overweight” rating in a research report on Friday, November 4th. Citigroup cut their price objective on Ingersoll Rand from $58.00 to $57.00 in a research report on Monday, October 10th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Ingersoll Rand from $51.00 to $49.00 and set a “hold” rating for the company in a research report on Thursday, October 13th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $54.20.

Insider Buying and Selling

In related news, CAO Michael J. Scheske sold 1,743 shares of the stock in a transaction on Monday, November 7th. The stock was sold at an average price of $53.43, for a total transaction of $93,128.49. Following the completion of the sale, the chief accounting officer now directly owns 7,110 shares in the company, valued at $379,887.30. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Ingersoll Rand news, insider Andrew R. Schiesl sold 10,000 shares of the stock in a transaction on Thursday, November 3rd. The shares were sold at an average price of $52.00, for a total transaction of $520,000.00. Following the transaction, the insider now directly owns 70,928 shares of the company’s stock, valued at $3,688,256. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Michael J. Scheske sold 1,743 shares of the stock in a transaction on Monday, November 7th. The stock was sold at an average price of $53.43, for a total transaction of $93,128.49. Following the transaction, the chief accounting officer now directly owns 7,110 shares in the company, valued at $379,887.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,636 shares of company stock worth $1,190,675. Corporate insiders own 0.75% of the company’s stock.

About Ingersoll Rand

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Ingersoll Rand Inc provides various mission-critical air, fluid, energy, specialty vehicle and medical technologies in the United States, Europe, the Middle East, Africa, and the Asia Pacific. It operates through two segments, Industrial Technologies and Services, and Precision and Science Technologies.

See Also

Want to see what other hedge funds are holding IR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ingersoll Rand Inc. (NYSE:IRGet Rating).

Institutional Ownership by Quarter for Ingersoll Rand (NYSE:IR)

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