Allstate Corp Purchases Shares of 11,995 Ingersoll Rand Inc. (NYSE:IR)

Allstate Corp acquired a new stake in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 11,995 shares of the industrial products company's stock, valued at approximately $1,085,000.

Several other large investors have also modified their holdings of IR. Brown Brothers Harriman & Co. increased its stake in Ingersoll Rand by 73.8% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,455 shares of the industrial products company's stock valued at $132,000 after purchasing an additional 618 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in Ingersoll Rand by 0.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 119,585 shares of the industrial products company's stock worth $10,818,000 after purchasing an additional 395 shares in the last quarter. Norges Bank acquired a new stake in shares of Ingersoll Rand in the fourth quarter valued at $429,591,000. Caisse Des Depots ET Consignations bought a new position in shares of Ingersoll Rand during the 4th quarter valued at about $47,763,000. Finally, NEOS Investment Management LLC boosted its holdings in Ingersoll Rand by 24.6% during the fourth quarter. NEOS Investment Management LLC now owns 89,660 shares of the industrial products company's stock worth $8,111,000 after buying an additional 17,675 shares in the last quarter. Institutional investors own 95.27% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Citigroup reduced their price objective on Ingersoll Rand from $119.00 to $115.00 and set a "buy" rating for the company in a research note 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 for the company in a report on Wednesday, March 26th. Evercore ISI lowered their target price on 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 increased 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, Robert W. Baird raised their price target on shares of Ingersoll Rand from $105.00 to $111.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $105.09.

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Ingersoll Rand Stock Performance

NYSE IR traded down $4.01 on Friday, hitting $69.51. 6,552,942 shares of the stock were exchanged, compared to its average volume of 2,472,963. The business's fifty day moving average is $85.05 and its 200 day moving average is $93.22. Ingersoll Rand Inc. has a 52 week low of $67.27 and a 52 week high of $106.03. The company has a market capitalization of $28.02 billion, a PE ratio of 33.74, a P/E/G ratio of 3.50 and a beta of 1.48. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.29 and a quick ratio of 1.71.

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

Ingersoll Rand Announces Dividend

The company also recently declared 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 0.12%. The ex-dividend date was Wednesday, March 5th. Ingersoll Rand's dividend payout ratio (DPR) 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.