JPMorgan Chase & Co. Has $1.79 Billion Holdings in Ingersoll Rand Inc. (NYSE:IR)

JPMorgan Chase & Co. increased its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 8.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 18,229,178 shares of the industrial products company’s stock after acquiring an additional 1,462,538 shares during the period. JPMorgan Chase & Co.’s holdings in Ingersoll Rand were worth $1,789,376,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new position in Ingersoll Rand during the 3rd quarter valued at $34,000. UMB Bank n.a. raised its position in shares of Ingersoll Rand by 196.8% during the second quarter. UMB Bank n.a. now owns 466 shares of the industrial products company’s stock valued at $42,000 after buying an additional 309 shares during the last quarter. Eastern Bank acquired a new stake in Ingersoll Rand during the third quarter worth about $42,000. Rothschild Investment LLC bought a new position in Ingersoll Rand during the second quarter valued at about $43,000. Finally, Kimelman & Baird LLC acquired a new position in Ingersoll Rand in the 2nd quarter valued at approximately $57,000. Institutional investors own 95.27% of the company’s stock.

Analyst Ratings Changes

IR has been the topic of several recent research reports. Robert W. Baird decreased their price objective on Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. Cfra boosted their price target on shares of Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a report on Friday, October 4th. Morgan Stanley began coverage on shares of Ingersoll Rand in a research report on Friday, September 6th. They set an “equal weight” rating and a $97.00 target price on the stock. The Goldman Sachs Group increased their target price on Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Finally, Wells Fargo & Company boosted their price target on Ingersoll Rand from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.67.

Insider Activity at Ingersoll Rand

In other Ingersoll Rand news, CAO Michael J. Scheske sold 2,531 shares of the stock in a transaction 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 transaction, the chief accounting officer now directly owns 11,910 shares in the company, valued at approximately $1,160,510.40. This trade represents a 17.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.68% of the stock is currently owned by company insiders.

Ingersoll Rand Stock Performance

Ingersoll Rand stock opened at $92.28 on Friday. Ingersoll Rand Inc. has a 12-month low of $74.01 and a 12-month high of $106.03. The stock has a 50-day simple moving average of $99.91 and a 200 day simple moving average of $95.92. The company has a quick ratio of 1.71, a current ratio of 2.36 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $37.19 billion, a price-to-earnings ratio of 45.01, a P/E/G ratio of 3.86 and a beta of 1.42.

Ingersoll Rand Dividend Announcement

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

Ingersoll Rand Profile

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.