KLP Kapitalforvaltning AS Purchases New Position in Ingersoll Rand Inc. (NYSE:IR)

KLP Kapitalforvaltning AS bought a new stake in Ingersoll Rand Inc. (NYSE:IR - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 132,499 shares of the industrial products company's stock, valued at approximately $11,986,000.

Several other large investors have also modified their holdings of IR. Pathstone Holdings LLC lifted its position in Ingersoll Rand by 3.7% in the third quarter. Pathstone Holdings LLC now owns 32,760 shares of the industrial products company's stock valued at $3,216,000 after purchasing an additional 1,171 shares during the period. Eagle Asset Management Inc. boosted its stake in shares of Ingersoll Rand by 3.2% in the third quarter. Eagle Asset Management Inc. now owns 30,520 shares of the industrial products company's stock valued at $3,132,000 after buying an additional 953 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of Ingersoll Rand by 9.4% in the third quarter. Daiwa Securities Group Inc. now owns 90,827 shares of the industrial products company's stock valued at $8,916,000 after purchasing an additional 7,784 shares during the period. Fisher Asset Management LLC grew its position in Ingersoll Rand by 1.7% during the third quarter. Fisher Asset Management LLC now owns 6,744,839 shares of the industrial products company's stock worth $662,074,000 after buying an additional 114,727 shares during the period. Finally, DRW Securities LLC purchased a new position in Ingersoll Rand in the third quarter valued at about $543,000. Hedge funds and other institutional investors own 95.27% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on IR shares. Citigroup lowered their price target on Ingersoll Rand from $119.00 to $115.00 and set a "buy" rating on the stock in a report on Monday, January 13th. Barclays decreased their price objective on shares of Ingersoll Rand from $96.00 to $93.00 and set an "overweight" rating on the stock in a research report on Wednesday. Evercore ISI reduced their price target on shares of Ingersoll Rand from $100.00 to $91.00 and set an "in-line" rating on the stock in a report on Wednesday, February 19th. The Goldman Sachs Group upped their price objective on Ingersoll Rand from $109.00 to $121.00 and gave the company a "buy" rating in a research report on Thursday, December 12th. Finally, Wells Fargo & Company dropped their price objective on Ingersoll Rand from $115.00 to $105.00 and set an "overweight" rating for the company in a research report on Tuesday, January 7th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Ingersoll Rand has an average rating of "Moderate Buy" and an average target price of $105.09.

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Ingersoll Rand Trading Down 1.7 %

Ingersoll Rand stock traded down $1.38 during trading on Friday, reaching $79.92. The company had a trading volume of 80,136 shares, compared to its average volume of 2,369,783. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.29. The firm has a market capitalization of $32.22 billion, a price-to-earnings ratio of 38.97, a PEG ratio of 3.50 and a beta of 1.48. Ingersoll Rand Inc. has a 12-month low of $79.79 and a 12-month high of $106.03. The stock's 50 day moving average price is $86.94 and its two-hundred day moving average price is $93.72.

Ingersoll Rand (NYSE:IR - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The industrial products company reported $0.81 EPS for the quarter, missing analysts' consensus estimates of $0.85 by ($0.04). Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. As a group, equities analysts expect that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. The ex-dividend date was Wednesday, March 5th. Ingersoll Rand's payout ratio is currently 3.88%.

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.