Magnetar Financial LLC Takes $4.79 Million Position in Ingersoll Rand Inc. (NYSE:IR)

Magnetar Financial LLC purchased a new position in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 52,924 shares of the industrial products company's stock, valued at approximately $4,788,000.

Other large investors also recently modified their holdings of the company. OFI Invest Asset Management acquired a new position in Ingersoll Rand during the 4th quarter worth approximately $38,000. UMB Bank n.a. increased its holdings in shares of Ingersoll Rand by 27.0% during the fourth 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 in the last quarter. Versant Capital Management Inc raised its position in shares of Ingersoll Rand by 654.4% during the fourth quarter. Versant Capital Management Inc now owns 679 shares of the industrial products company's stock worth $61,000 after purchasing an additional 589 shares during the period. Venturi Wealth Management LLC bought a new position in shares of Ingersoll Rand in the 4th quarter worth $99,000. Finally, WASHINGTON TRUST Co grew its position in Ingersoll Rand by 18.5% in the 4th quarter. WASHINGTON TRUST Co now owns 1,136 shares of the industrial products company's stock valued at $103,000 after purchasing an additional 177 shares during the period. Institutional investors and hedge funds own 95.27% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Barclays dropped their price objective on shares of Ingersoll Rand from $102.00 to $96.00 and set an "overweight" rating on the stock in a research note on Monday, March 10th. Stifel Nicolaus dropped their price target on shares of Ingersoll Rand from $100.00 to $94.00 and set a "hold" rating on the stock in a research report on Tuesday, February 18th. Robert W. Baird boosted their price objective on Ingersoll Rand from $105.00 to $111.00 and gave the stock an "outperform" rating in a report on Tuesday, February 18th. Wells Fargo & Company dropped their target price on Ingersoll Rand from $115.00 to $105.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. Finally, Citigroup decreased their price target on Ingersoll Rand from $119.00 to $115.00 and set a "buy" rating for the company in a report on Monday, January 13th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Ingersoll Rand currently has an average rating of "Moderate Buy" and an average target price of $105.36.

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Ingersoll Rand Stock Performance

IR traded up $1.25 during trading on Monday, hitting $82.21. 3,134,504 shares of the company traded hands, compared to its average volume of 2,383,660. Ingersoll Rand Inc. has a one year low of $79.79 and a one year high of $106.03. The stock's fifty day moving average is $87.45 and its 200 day moving average is $93.92. The company has a quick ratio of 1.71, a current ratio of 2.29 and a debt-to-equity ratio of 0.46. The firm has a market cap of $33.14 billion, a P/E ratio of 39.91, a price-to-earnings-growth ratio of 3.50 and a beta of 1.48.

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

Ingersoll Rand Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Wednesday, March 5th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.08 annualized dividend and a dividend yield of 0.10%. Ingersoll Rand's payout ratio is presently 3.88%.

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.