Massachusetts Financial Services Co. MA Trims Position in Ingersoll Rand Inc. (NYSE:IR)

Massachusetts Financial Services Co. MA decreased its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 20.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,359,960 shares of the industrial products company’s stock after selling 590,356 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Ingersoll Rand were worth $231,654,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in shares of Ingersoll Rand by 6.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,462,558 shares of the industrial products company’s stock worth $314,549,000 after acquiring an additional 224,463 shares in the last quarter. Ensign Peak Advisors Inc grew its position in shares of Ingersoll Rand by 20.8% during the second quarter. Ensign Peak Advisors Inc now owns 1,454,956 shares of the industrial products company’s stock worth $132,168,000 after buying an additional 250,712 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Ingersoll Rand by 0.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 963,167 shares of the industrial products company’s stock worth $94,544,000 after purchasing an additional 2,458 shares during the last quarter. Hsbc Holdings PLC increased its holdings in shares of Ingersoll Rand by 12.4% in the 2nd quarter. Hsbc Holdings PLC now owns 863,449 shares of the industrial products company’s stock valued at $78,422,000 after acquiring an additional 95,371 shares during the last quarter. Finally, Swedbank AB lifted its position in shares of Ingersoll Rand by 34.0% in the 2nd quarter. Swedbank AB now owns 780,712 shares of the industrial products company’s stock worth $70,920,000 after buying an additional 198,200 shares during the last quarter. 95.27% of the stock is owned by hedge funds and other institutional investors.

Ingersoll Rand Stock Up 0.9 %

Shares of IR stock opened at $104.00 on Friday. The stock has a 50 day moving average of $99.20 and a 200-day moving average of $94.65. The firm has a market cap of $41.91 billion, a PE ratio of 50.73, a price-to-earnings-growth ratio of 3.88 and a beta of 1.42. The company has a quick ratio of 1.71, a current ratio of 2.36 and a debt-to-equity ratio of 0.46. Ingersoll Rand Inc. has a 12 month low of $69.46 and a 12 month high of $105.63.

Ingersoll Rand Dividend Announcement

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

Insider Activity at Ingersoll Rand

In related news, insider Kathleen M. Keene sold 4,629 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $89.99, for a total transaction of $416,563.71. Following the completion of the sale, the insider now owns 3,829 shares in the company, valued at $344,571.71. This trade represents a 54.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Michael J. Scheske sold 2,531 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $97.44, for a total value of $246,620.64. Following the sale, the chief accounting officer now owns 11,910 shares in the company, valued at approximately $1,160,510.40. This trade represents a 17.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on IR shares. Wells Fargo & Company increased their target price on Ingersoll Rand from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Stifel Nicolaus cut shares of Ingersoll Rand from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $112.00 to $107.00 in a research note on Monday, November 18th. Morgan Stanley began coverage on Ingersoll Rand in a report on Friday, September 6th. They set an “equal weight” rating and a $97.00 price objective on the stock. Wolfe Research upgraded Ingersoll Rand to a “hold” rating in a research report on Friday, September 20th. Finally, Robert W. Baird reduced their price objective on Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $103.83.

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.