Bank of Montreal Can Boosts Position in Ingersoll Rand Inc. (NYSE:IR)

Bank of Montreal Can raised its stake in shares of Ingersoll Rand Inc. (NYSE:IRGet Rating) by 29.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 232,509 shares of the industrial products company’s stock after buying an additional 52,782 shares during the quarter. Bank of Montreal Can’s holdings in Ingersoll Rand were worth $11,620,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. MetLife Investment Management LLC grew its holdings in Ingersoll Rand by 22.8% during the 1st quarter. MetLife Investment Management LLC now owns 110,612 shares of the industrial products company’s stock valued at $5,569,000 after buying an additional 20,561 shares in the last quarter. Illinois Municipal Retirement Fund boosted its position in shares of Ingersoll Rand by 75.3% during the 2nd quarter. Illinois Municipal Retirement Fund now owns 13,141 shares of the industrial products company’s stock valued at $553,000 after acquiring an additional 5,645 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Ingersoll Rand by 11.4% during the 1st quarter. Victory Capital Management Inc. now owns 214,242 shares of the industrial products company’s stock valued at $9,418,000 after acquiring an additional 21,937 shares during the last quarter. Brinker Capital Investments LLC boosted its position in shares of Ingersoll Rand by 5.1% during the 2nd quarter. Brinker Capital Investments LLC now owns 49,438 shares of the industrial products company’s stock valued at $2,080,000 after acquiring an additional 2,415 shares during the last quarter. Finally, Baird Financial Group Inc. boosted its position in shares of Ingersoll Rand by 2.1% during the 1st quarter. Baird Financial Group Inc. now owns 1,282,105 shares of the industrial products company’s stock valued at $64,553,000 after acquiring an additional 26,043 shares during the last quarter. Hedge funds and other institutional investors own 99.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on IR shares. Barclays dropped their price target on Ingersoll Rand from $59.00 to $57.00 and set an “overweight” rating for the company in a research report on Monday, October 3rd. Wells Fargo & Company boosted their target price on Ingersoll Rand from $51.00 to $57.00 and gave the stock an “overweight” rating in a research report on Friday, November 4th. Deutsche Bank Aktiengesellschaft dropped their target price 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. Credit Suisse Group boosted their target price on Ingersoll Rand from $44.00 to $53.00 and gave the stock a “neutral” rating in a research report on Friday, November 4th. Finally, Robert W. Baird boosted their target price on Ingersoll Rand from $52.00 to $57.00 in a research report on Friday, August 5th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Ingersoll Rand has an average rating of “Hold” and an average price target of $54.20.

Insider Activity

In other news, CAO Michael J. Scheske sold 1,743 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $379,887.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Andrew R. Schiesl sold 10,000 shares of the company’s stock in a transaction on Thursday, November 3rd. The stock was sold at an average price of $52.00, for a total value of $520,000.00. Following the sale, the insider now directly owns 70,928 shares of the company’s stock, valued at $3,688,256. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Michael J. Scheske sold 1,743 shares of the company’s stock in a transaction on Monday, November 7th. The stock was sold at an average price of $53.43, for a total value 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 22,636 shares of company stock valued at $1,190,675. Company insiders own 0.75% of the company’s stock.

Ingersoll Rand Stock Performance

Shares of IR stock opened at $53.64 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.79 and a current ratio of 2.46. Ingersoll Rand Inc. has a fifty-two week low of $39.28 and a fifty-two week high of $62.64. The stock has a 50 day moving average price of $48.62 and a two-hundred day moving average price of $47.11. The company has a market capitalization of $21.72 billion, a P/E ratio of 32.31 and a beta of 1.47.

Ingersoll Rand Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Wednesday, November 16th will be paid a dividend of $0.02 per share. The ex-dividend date is Tuesday, November 15th. This represents a $0.08 annualized dividend and a dividend yield of 0.15%. Ingersoll Rand’s dividend payout ratio (DPR) is presently 4.82%.

About Ingersoll Rand

(Get Rating)

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.

Featured Articles

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)

Receive News & Ratings for Ingersoll Rand Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ingersoll Rand and related companies with MarketBeat.com's FREE daily email newsletter.