Nordea Investment Management AB Acquires 271,381 Shares of Ingersoll Rand Inc. (NYSE:IR)

Nordea Investment Management AB increased its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 19.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,691,399 shares of the industrial products company’s stock after purchasing an additional 271,381 shares during the period. Nordea Investment Management AB’s holdings in Ingersoll Rand were worth $153,867,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of IR. Virtu Financial LLC bought a new position in shares of Ingersoll Rand in the third quarter worth about $864,000. Daiwa Securities Group Inc. increased its position in Ingersoll Rand by 9.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 90,827 shares of the industrial products company’s stock worth $8,916,000 after purchasing an additional 7,784 shares in the last quarter. GDS Wealth Management lifted its stake in Ingersoll Rand by 6.4% in the 3rd quarter. GDS Wealth Management now owns 167,248 shares of the industrial products company’s stock valued at $16,417,000 after purchasing an additional 10,081 shares during the last quarter. Intech Investment Management LLC boosted its position in Ingersoll Rand by 28.2% in the third quarter. Intech Investment Management LLC now owns 101,745 shares of the industrial products company’s stock valued at $9,987,000 after buying an additional 22,401 shares in the last quarter. Finally, AXA S.A. grew its stake in shares of Ingersoll Rand by 81.4% during the second quarter. AXA S.A. now owns 87,829 shares of the industrial products company’s stock worth $7,978,000 after buying an additional 39,417 shares during the last quarter. 95.27% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Ingersoll Rand

In other Ingersoll Rand news, CAO Michael J. Scheske sold 2,531 shares of Ingersoll Rand stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $97.44, for a total value of $246,620.64. Following the completion of the sale, the chief accounting officer now directly owns 11,910 shares of the company’s stock, valued at approximately $1,160,510.40. The trade was a 17.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.68% of the company’s stock.

Ingersoll Rand Stock Performance

Shares of Ingersoll Rand stock opened at $91.16 on Tuesday. The company has a market cap of $36.74 billion, a P/E ratio of 44.47, a PEG ratio of 3.84 and a beta of 1.42. The company has a current ratio of 2.36, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The business has a 50-day moving average price of $98.97 and a two-hundred day moving average price of $95.85. Ingersoll Rand Inc. has a 1-year low of $74.01 and a 1-year high of $106.03.

Ingersoll Rand Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Stifel Nicolaus downgraded Ingersoll Rand from a “buy” rating to a “hold” rating and cut their price objective for the company from $112.00 to $107.00 in a report on Monday, November 18th. Cfra boosted their price target on Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Robert W. Baird dropped their price objective on shares of Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating for the company in a report on Monday, November 4th. The Goldman Sachs Group lifted their target price on shares of Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Finally, Wells Fargo & Company upped their price target on shares of Ingersoll Rand from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Ingersoll Rand has a consensus rating of “Moderate Buy” and an average price target of $107.67.

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.