Alliancebernstein L.P. Reduces Holdings in Ingersoll Rand Inc. (NYSE:IR)

Alliancebernstein L.P. reduced its stake in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 2.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 605,872 shares of the industrial products company's stock after selling 13,552 shares during the quarter. Alliancebernstein L.P. owned approximately 0.15% of Ingersoll Rand worth $54,807,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of IR. Vanguard Group Inc. boosted its position in Ingersoll Rand by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 45,684,016 shares of the industrial products company's stock worth $4,132,576,000 after purchasing an additional 446,591 shares during the last quarter. JPMorgan Chase & Co. grew its position in Ingersoll Rand by 3.6% during the fourth quarter. JPMorgan Chase & Co. now owns 18,878,280 shares of the industrial products company's stock valued at $1,707,729,000 after buying an additional 649,102 shares during the period. State Street Corp increased its holdings in Ingersoll Rand by 0.7% during 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 last quarter. Franklin Resources Inc. raised its position in Ingersoll Rand by 2.5% in the third quarter. Franklin Resources Inc. now owns 11,597,321 shares of the industrial products company's stock worth $1,207,554,000 after acquiring an additional 278,710 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Ingersoll Rand by 0.6% in the third 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 last quarter. 95.27% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

A number of equities research analysts recently commented on IR shares. Citigroup lowered their price target on shares of Ingersoll Rand from $119.00 to $115.00 and set a "buy" rating on the stock in a report on Monday, January 13th. Stifel Nicolaus dropped their price target on Ingersoll Rand from $100.00 to $94.00 and set a "hold" rating on the stock in a research report on Tuesday, February 18th. Wells Fargo & Company lowered their price objective on Ingersoll Rand from $115.00 to $105.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 7th. Barclays cut their target price on shares of Ingersoll Rand from $96.00 to $93.00 and set an "overweight" rating for the company in a research report on Wednesday, March 26th. Finally, The Goldman Sachs Group boosted their price target 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. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, Ingersoll Rand currently has a consensus rating of "Moderate Buy" and a consensus price target of $105.09.

Ingersoll Rand Price Performance

Shares of NYSE IR traded down $2.28 during midday trading on Thursday, hitting $71.04. 1,391,658 shares of the company's stock were exchanged, compared to its average volume of 2,518,066. The company has a current ratio of 2.29, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The business's fifty day moving average price is $82.77 and its two-hundred day moving average price is $92.30. The company has a market cap of $28.64 billion, a price-to-earnings ratio of 34.48, a PEG ratio of 3.50 and a beta of 1.40. Ingersoll Rand Inc. has a 12-month low of $65.61 and a 12-month high of $106.03.

Ingersoll Rand (NYSE:IR - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. As a group, research analysts forecast that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Wednesday, March 5th were issued a dividend of $0.02 per share. The ex-dividend date was Wednesday, March 5th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.11%. Ingersoll Rand's dividend payout ratio is 3.88%.

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.