BI Asset Management Fondsmaeglerselskab A S Reduces Stock Position in Ingersoll Rand Inc. (NYSE:IR)

BI Asset Management Fondsmaeglerselskab A S lessened its stake in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 37.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,019 shares of the industrial products company's stock after selling 17,921 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Ingersoll Rand were worth $2,716,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in IR. Vanguard Group Inc. grew its position in shares of Ingersoll Rand by 1.0% during 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 acquiring an additional 446,591 shares during the last quarter. Capital International Investors raised its stake in shares of Ingersoll Rand by 4.6% during the 4th quarter. Capital International Investors now owns 36,673,865 shares of the industrial products company's stock worth $3,317,537,000 after buying an additional 1,606,363 shares in the last quarter. Capital World Investors grew its position in Ingersoll Rand by 1.0% during the fourth quarter. Capital World Investors now owns 20,088,857 shares of the industrial products company's stock worth $1,817,238,000 after buying an additional 197,711 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Ingersoll Rand by 3.6% during the 4th quarter. JPMorgan Chase & Co. now owns 18,878,280 shares of the industrial products company's stock worth $1,707,729,000 after purchasing an additional 649,102 shares in the last quarter. Finally, FMR LLC grew its holdings in shares of Ingersoll Rand by 8.2% during the fourth quarter. FMR LLC now owns 17,472,317 shares of the industrial products company's stock worth $1,580,546,000 after buying an additional 1,320,223 shares in the last quarter. Hedge funds and other institutional investors own 95.27% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Evercore ISI decreased their price target on shares of Ingersoll Rand from $100.00 to $91.00 and set an "in-line" rating on the stock in a report on Wednesday, February 19th. Wells Fargo & Company lowered their price target on Ingersoll Rand from $115.00 to $105.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 7th. Barclays decreased their price target on Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Robert W. Baird increased their target price on Ingersoll Rand from $105.00 to $111.00 and gave the company an "outperform" rating in a research note on Tuesday, February 18th. Finally, Stifel Nicolaus dropped their target price on Ingersoll Rand from $94.00 to $77.00 and set a "hold" rating on the stock in a research report on Monday, April 14th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $100.36.

Ingersoll Rand Stock Performance

NYSE IR traded down $0.84 during trading on Friday, reaching $74.90. The company's stock had a trading volume of 3,397,879 shares, compared to its average volume of 2,795,469. The firm has a 50 day moving average price of $78.69 and a 200 day moving average price of $90.38. Ingersoll Rand Inc. has a 12 month low of $65.61 and a 12 month high of $106.03. 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 firm has a market capitalization of $30.19 billion, a price-to-earnings ratio of 36.36, a price-to-earnings-growth ratio of 3.50 and a beta of 1.40.

Ingersoll Rand (NYSE:IR - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The industrial products company reported $0.81 earnings per share (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 for the quarter, compared to analyst estimates of $1.91 billion. As a group, equities analysts anticipate that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 15th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.11%. The ex-dividend date of this dividend is Thursday, May 15th. Ingersoll Rand's dividend payout ratio (DPR) is presently 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.