Pacer Advisors Inc. Grows Position in Ingersoll Rand Inc. (NYSE:IR)

Pacer Advisors Inc. boosted its holdings in Ingersoll Rand Inc. (NYSE:IR) by 5.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 39,622 shares of the industrial products company’s stock after buying an additional 2,202 shares during the quarter. Pacer Advisors Inc.’s holdings in Ingersoll Rand were worth $3,584,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. raised its holdings in shares of Ingersoll Rand by 8.7% during the third quarter. JPMorgan Chase & Co. now owns 18,229,178 shares of the industrial products company’s stock valued at $1,789,376,000 after purchasing an additional 1,462,538 shares during the last quarter. FMR LLC grew its position in Ingersoll Rand by 10.5% in the 3rd quarter. FMR LLC now owns 16,152,094 shares of the industrial products company’s stock worth $1,585,489,000 after purchasing an additional 1,538,056 shares during the period. State Street Corp raised its stake in Ingersoll Rand by 0.7% during the 3rd quarter. State Street Corp now owns 15,776,908 shares of the industrial products company’s stock valued at $1,548,661,000 after buying an additional 112,824 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Ingersoll Rand by 2.5% during the 3rd quarter. Franklin Resources Inc. now owns 11,597,321 shares of the industrial products company’s stock valued at $1,207,554,000 after buying an additional 278,710 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Ingersoll Rand by 0.6% in 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 buying an additional 54,952 shares during the last quarter. Institutional investors own 95.27% of the company’s stock.

Analyst Upgrades and Downgrades

IR has been the subject of a number of research reports. Cfra upped their price objective on Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Citigroup lowered their price objective on shares of Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. The Goldman Sachs Group boosted their target price on shares of Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Stifel Nicolaus decreased their price target on shares of Ingersoll Rand from $107.00 to $100.00 and set a “hold” rating on the stock in a research report on Friday, January 24th. Finally, Wells Fargo & Company cut their price objective on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Seven research 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 company currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.92.

Insider Buying and Selling

In related news, CAO Michael J. Scheske sold 2,531 shares of the stock in a transaction that occurred 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 completion of 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 filing with the Securities & Exchange Commission, which is accessible through this link. 0.68% of the stock is owned by company insiders.

Ingersoll Rand Trading Up 3.0 %

IR stock opened at $93.91 on Friday. The company has a market capitalization of $37.85 billion, a price-to-earnings ratio of 45.81, a PEG ratio of 3.73 and a beta of 1.44. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.36 and a quick ratio of 1.71. Ingersoll Rand Inc. has a 1-year low of $79.73 and a 1-year high of $106.03. The business has a 50 day simple moving average of $95.66 and a two-hundred day simple moving average of $95.70.

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.