ABC Arbitrage SA Invests $2.14 Million in Ingersoll Rand Inc. (NYSE:IR)

ABC Arbitrage SA purchased a new position in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 23,688 shares of the industrial products company's stock, valued at approximately $2,143,000.

Other hedge funds have also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its position in Ingersoll Rand by 8.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 18,229,178 shares of the industrial products company's stock worth $1,789,376,000 after purchasing an additional 1,462,538 shares during the period. FMR LLC grew its stake in shares of Ingersoll Rand by 10.5% during the third quarter. FMR LLC now owns 16,152,094 shares of the industrial products company's stock valued at $1,585,489,000 after buying an additional 1,538,056 shares during the last quarter. State Street Corp increased its holdings in shares of Ingersoll Rand by 0.7% in the third quarter. State Street Corp now owns 15,776,908 shares of the industrial products company's stock worth $1,548,661,000 after buying an additional 112,824 shares during the period. Franklin Resources Inc. lifted its stake in shares of Ingersoll Rand by 2.5% in 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 acquiring an additional 278,710 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Ingersoll Rand by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 9,436,467 shares of the industrial products company's stock valued at $923,087,000 after acquiring an additional 54,952 shares during the period. 95.27% of the stock is currently owned by institutional investors.

Ingersoll Rand Stock Down 1.1 %

Shares of NYSE IR traded down $0.99 during mid-day trading on Wednesday, hitting $85.76. 2,217,564 shares of the stock traded hands, compared to its average volume of 2,497,371. The stock has a fifty day moving average price of $92.11 and a 200-day moving average price of $95.08. 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 company has a market cap of $34.56 billion, a price-to-earnings ratio of 41.63, a PEG ratio of 3.40 and a beta of 1.43. Ingersoll Rand Inc. has a 52 week low of $83.72 and a 52 week high of $106.03.

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). Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. The business had revenue of $1.90 billion during the quarter, compared to analysts' expectations of $1.91 billion. Research analysts anticipate that Ingersoll Rand Inc. will post 3.3 EPS for the current year.

Ingersoll Rand Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Wednesday, March 5th will be given a $0.02 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. Ingersoll Rand's dividend payout ratio is currently 3.88%.

Wall Street Analysts Forecast Growth

IR has been the topic of a number of analyst reports. Stifel Nicolaus decreased their price target on Ingersoll Rand from $100.00 to $94.00 and set a "hold" rating on the stock in a research note on Tuesday. UBS Group began coverage on shares of Ingersoll Rand in a report on Wednesday, November 13th. They set a "buy" rating and a $124.00 price target for the company. The Goldman Sachs Group raised their price target on shares of Ingersoll Rand from $109.00 to $121.00 and gave the stock a "buy" rating in a report on Thursday, December 12th. Wells Fargo & Company lowered 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 note on Tuesday, January 7th. Finally, Evercore ISI cut their target price on Ingersoll Rand from $100.00 to $91.00 and set an "in-line" rating on the stock in a research note on Wednesday. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Ingersoll Rand has an average rating of "Moderate Buy" and an average price target of $104.75.

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.