MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Acquires 8,453 Shares of Ingersoll Rand Inc. (NYSE:IR)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 2.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 347,772 shares of the industrial products company’s stock after acquiring an additional 8,453 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH owned about 0.09% of Ingersoll Rand worth $31,480,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of IR. Ashton Thomas Securities LLC bought a new stake in Ingersoll Rand during the third quarter valued at about $34,000. Eastern Bank purchased a new position in shares of Ingersoll Rand during the 3rd quarter valued at about $42,000. UMB Bank n.a. grew its stake in shares of Ingersoll Rand by 27.0% during the 4th quarter. UMB Bank n.a. now owns 598 shares of the industrial products company’s stock valued at $54,000 after acquiring an additional 127 shares during the period. Kimelman & Baird LLC purchased a new stake in Ingersoll Rand in the 2nd quarter worth approximately $57,000. Finally, Princeton Global Asset Management LLC bought a new stake in Ingersoll Rand during the 3rd quarter worth approximately $65,000. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Robert W. Baird reduced their price objective 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. UBS Group started coverage on Ingersoll Rand in a research note on Wednesday, November 13th. They issued a “buy” rating and a $124.00 price target for the company. Barclays lowered their price objective on Ingersoll Rand from $120.00 to $115.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Wells Fargo & Company decreased their price target on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Finally, Cfra lifted their target price on Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a report on Friday, October 4th. 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 presently has a consensus rating of “Moderate Buy” and an average target price of $106.50.

Insider Activity

In other news, CAO Michael J. Scheske sold 2,531 shares of Ingersoll Rand stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $97.44, for a total transaction of $246,620.64. Following the completion of the sale, the chief accounting officer now 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 legal filing with the SEC, which is accessible through this link. Insiders own 0.68% of the company’s stock.

Ingersoll Rand Price Performance

IR opened at $94.18 on Friday. 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 business has a fifty day moving average of $96.68 and a 200 day moving average of $95.77. Ingersoll Rand Inc. has a 52-week low of $78.61 and a 52-week high of $106.03. The stock has a market cap of $37.96 billion, a P/E ratio of 45.94, a PEG ratio of 3.73 and a beta of 1.44.

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.