Pacer Advisors Inc. Increases Holdings in Ingersoll Rand Inc. (NYSE:IR)

Pacer Advisors Inc. increased its stake in Ingersoll Rand Inc. (NYSE:IR) by 5.9% in the 4th quarter, HoldingsChannel reports. The fund owned 39,622 shares of the industrial products company’s stock after acquiring an additional 2,202 shares during the period. Pacer Advisors Inc.’s holdings in Ingersoll Rand were worth $3,584,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in IR. JPMorgan Chase & Co. boosted its holdings in shares of Ingersoll Rand by 8.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 18,229,178 shares of the industrial products company’s stock worth $1,789,376,000 after purchasing an additional 1,462,538 shares during the period. FMR LLC boosted its stake in Ingersoll Rand by 10.5% during the third quarter. FMR LLC now owns 16,152,094 shares of the industrial products company’s stock worth $1,585,489,000 after buying an additional 1,538,056 shares during the period. State Street Corp raised its stake in shares of Ingersoll Rand by 0.7% in the third quarter. State Street Corp now owns 15,776,908 shares of the industrial products company’s stock valued at $1,548,661,000 after acquiring an additional 112,824 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Ingersoll Rand by 2.5% in the 3rd quarter. Franklin Resources Inc. now owns 11,597,321 shares of the industrial products company’s stock worth $1,207,554,000 after acquiring an additional 278,710 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Ingersoll Rand by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 9,436,467 shares of the industrial products company’s stock worth $923,087,000 after purchasing an additional 54,952 shares during the period. 95.27% of the stock is owned by institutional investors.

Insider Buying and Selling at Ingersoll Rand

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

Analyst Ratings Changes

Several brokerages have issued reports on IR. Citigroup decreased their price objective on shares of Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Barclays dropped their price objective on Ingersoll Rand from $120.00 to $115.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. 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 research note on Thursday, December 12th. Robert W. Baird lowered their target price on shares of Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Finally, UBS Group initiated coverage on shares of Ingersoll Rand in a report on Wednesday, November 13th. They set a “buy” rating and a $124.00 price objective for the company. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Ingersoll Rand presently has an average rating of “Moderate Buy” and a consensus target price of $105.92.

Ingersoll Rand Stock Up 3.0 %

Shares of NYSE IR opened at $93.91 on Friday. The stock has a market capitalization of $37.85 billion, a PE ratio of 45.81, a price-to-earnings-growth ratio of 3.73 and a beta of 1.44. The company has a current ratio of 2.36, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. Ingersoll Rand Inc. has a 12-month low of $79.73 and a 12-month high of $106.03. The stock’s fifty day simple moving average is $95.66 and its two-hundred day simple moving average is $95.70.

Ingersoll Rand Company 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.