DnB Asset Management AS increased its position in shares of Ingersoll Rand Inc. (NYSE:IR – Get Rating) by 0.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 113,901 shares of the industrial products company’s stock after acquiring an additional 1,042 shares during the period. DnB Asset Management AS’s holdings in Ingersoll Rand were worth $4,793,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also made changes to their positions in IR. Massmutual Trust Co. FSB ADV lifted its stake in Ingersoll Rand by 103.4% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 537 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 273 shares during the last quarter. Prospera Financial Services Inc bought a new position in Ingersoll Rand in the 1st quarter valued at approximately $27,000. Riverview Trust Co bought a new position in Ingersoll Rand in the 1st quarter valued at approximately $28,000. Hazlett Burt & Watson Inc. bought a new position in Ingersoll Rand in the 1st quarter valued at approximately $36,000. Finally, Quent Capital LLC bought a new position in Ingersoll Rand in the 4th quarter valued at approximately $37,000. Institutional investors and hedge funds own 99.89% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts recently commented on the stock. Citigroup increased their price objective on shares of Ingersoll Rand to $58.00 in a research note on Tuesday, August 9th. Barclays dropped their price target on shares of Ingersoll Rand from $60.00 to $55.00 and set an “overweight” rating for the company in a research note on Friday, July 8th. Wells Fargo & Company dropped their price target on shares of Ingersoll Rand from $50.00 to $49.00 in a research note on Tuesday, July 12th. TheStreet raised shares of Ingersoll Rand from a “c” rating to a “b-” rating in a research note on Friday, August 12th. Finally, Jefferies Financial Group dropped their price target on shares of Ingersoll Rand from $60.00 to $55.00 in a research note on Friday, July 15th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ingersoll Rand currently has an average rating of “Hold” and an average price target of $53.09.
Insiders Place Their Bets
Ingersoll Rand Price Performance
Shares of NYSE IR opened at $48.46 on Tuesday. Ingersoll Rand Inc. has a twelve month low of $39.28 and a twelve month high of $62.64. The firm has a fifty day simple moving average of $48.06 and a 200 day simple moving average of $46.82. The company has a market capitalization of $19.54 billion, a PE ratio of 30.29 and a beta of 1.49. The company has a quick ratio of 1.73, a current ratio of 2.43 and a debt-to-equity ratio of 0.31.
Ingersoll Rand Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 21st. Shareholders of record on Wednesday, August 17th will be issued a $0.032 dividend. This represents a $0.13 dividend on an annualized basis and a yield of 0.26%. This is a boost from Ingersoll Rand’s previous quarterly dividend of $0.02. The ex-dividend date is Tuesday, August 16th. Ingersoll Rand’s dividend payout ratio (DPR) is presently 5.00%.
Ingersoll Rand Company Profile
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.
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