Kanawha Capital Management LLC Raises Stock Position in Ingersoll Rand Inc. (NYSE:IR)

Kanawha Capital Management LLC increased its holdings in Ingersoll Rand Inc. (NYSE:IR) by 2.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 5,096 shares of the industrial products company’s stock after purchasing an additional 119 shares during the quarter. Kanawha Capital Management LLC’s holdings in Ingersoll Rand were worth $500,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital International Investors grew its stake in Ingersoll Rand by 113.7% during the 1st quarter. Capital International Investors now owns 26,166,256 shares of the industrial products company’s stock worth $2,484,486,000 after purchasing an additional 13,919,775 shares in the last quarter. Capital World Investors purchased a new position in shares of Ingersoll Rand in the 1st quarter valued at about $440,401,000. JPMorgan Chase & Co. increased its stake in Ingersoll Rand by 28.4% in the first quarter. JPMorgan Chase & Co. now owns 15,977,246 shares of the industrial products company’s stock valued at $1,517,040,000 after purchasing an additional 3,535,543 shares during the last quarter. Capital Research Global Investors grew its position in shares of Ingersoll Rand by 15.3% in the 1st quarter. Capital Research Global Investors now owns 11,316,241 shares of the industrial products company’s stock valued at $1,074,477,000 after buying an additional 1,504,414 shares during the last quarter. Finally, Swedbank AB purchased a new position in shares of Ingersoll Rand during the first quarter worth about $55,310,000. Institutional investors and hedge funds own 95.27% of the company’s stock.

Insider Activity at Ingersoll Rand

In other news, insider Kathleen M. Keene sold 4,629 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $89.99, for a total value of $416,563.71. Following the completion of the sale, the insider now owns 3,829 shares of the company’s stock, valued at $344,571.71. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Ingersoll Rand news, insider Kathleen M. Keene sold 4,629 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $89.99, for a total value of $416,563.71. Following the completion of the transaction, the insider now owns 3,829 shares in the company, valued at $344,571.71. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Andrew R. Schiesl sold 15,381 shares of Ingersoll Rand stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $89.74, for a total transaction of $1,380,290.94. Following the sale, the insider now directly owns 39,486 shares in the company, valued at $3,543,473.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 77,510 shares of company stock worth $7,108,005. Company insiders own 0.68% of the company’s stock.

Ingersoll Rand Stock Up 0.7 %

Shares of NYSE IR opened at $94.61 on Tuesday. The company has a quick ratio of 1.52, a current ratio of 2.18 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $38.17 billion, a PE ratio of 46.15, a P/E/G ratio of 2.63 and a beta of 1.42. The firm has a fifty day moving average of $95.40 and a 200-day moving average of $93.54. Ingersoll Rand Inc. has a 52-week low of $64.60 and a 52-week high of $102.74.

Ingersoll Rand Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 14th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.08%. The ex-dividend date is Thursday, November 14th. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.90%.

Analyst Ratings Changes

A number of brokerages have recently commented on IR. Stifel Nicolaus lifted their target price on shares of Ingersoll Rand from $101.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Wells Fargo & Company upped their price objective on shares of Ingersoll Rand from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Wolfe Research upgraded shares of Ingersoll Rand to a “hold” rating in a research note on Friday, September 20th. Cfra lifted their price objective on Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a report on Friday, October 4th. Finally, Evercore ISI cut their target price on Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $101.67.

About Ingersoll Rand

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.