Allianz SE Takes $2.58 Million Position in Ingersoll Rand Inc. (NYSE:IR)

Allianz SE purchased a new position in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 28,545 shares of the industrial products company's stock, valued at approximately $2,584,000.

Other hedge funds also recently added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp acquired a new stake in Ingersoll Rand during the fourth quarter worth $36,000. OFI Invest Asset Management acquired a new position in shares of Ingersoll Rand in the 4th quarter valued at $38,000. Lee Danner & Bass Inc. purchased a new stake in Ingersoll Rand during the 4th quarter valued at approximately $42,000. Millstone Evans Group LLC purchased a new position in Ingersoll Rand during the fourth quarter worth about $50,000. Finally, UMB Bank n.a. lifted its stake in shares of Ingersoll Rand by 27.0% in the fourth quarter. UMB Bank n.a. now owns 598 shares of the industrial products company's stock valued at $54,000 after purchasing an additional 127 shares during the period. 95.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on IR shares. Stifel Nicolaus cut their price objective on shares of Ingersoll Rand from $100.00 to $94.00 and set a "hold" rating on the stock in a report on Tuesday, February 18th. Wells Fargo & Company lowered their price target on Ingersoll Rand from $115.00 to $105.00 and set an "overweight" rating for the company in a report on Tuesday, January 7th. Citigroup lowered their price target on shares of Ingersoll Rand from $119.00 to $115.00 and set a "buy" rating for the company in a research report on Monday, January 13th. Barclays reduced their price target on shares of Ingersoll Rand from $96.00 to $93.00 and set an "overweight" rating for the company in a research note on Wednesday, March 26th. Finally, The Goldman Sachs Group raised their price objective on Ingersoll Rand from $109.00 to $121.00 and gave the stock a "buy" rating in a research note on Thursday, December 12th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $105.09.

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Ingersoll Rand Stock Performance

NYSE:IR traded down $7.24 during trading hours on Thursday, reaching $74.46. The stock had a trading volume of 1,599,236 shares, compared to its average volume of 2,446,948. The stock has a 50 day simple moving average of $85.93 and a 200 day simple moving average of $93.50. The stock has a market cap of $30.01 billion, a P/E ratio of 36.15, a price-to-earnings-growth ratio of 3.50 and a beta of 1.48. Ingersoll Rand Inc. has a 12-month low of $73.91 and a 12-month high of $106.03. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.29.

Ingersoll Rand (NYSE:IR - Get Free Report) last released its quarterly 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 net margin of 11.59% and a return on equity of 12.78%. The firm had revenue of $1.90 billion for the quarter, compared to analysts' expectations of $1.91 billion. On average, research analysts forecast that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Announces Dividend

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