California Public Employees Retirement System Sells 52,700 Shares of Ingersoll Rand Inc. (NYSE:IR)

California Public Employees Retirement System trimmed its holdings in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 7.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 668,042 shares of the industrial products company's stock after selling 52,700 shares during the period. California Public Employees Retirement System owned 0.17% of Ingersoll Rand worth $60,431,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Murphy & Mullick Capital Management Corp bought a new stake in shares of Ingersoll Rand during the 4th quarter worth $36,000. OFI Invest Asset Management bought a new position in Ingersoll Rand during the fourth quarter worth $38,000. Lee Danner & Bass Inc. acquired a new position in Ingersoll Rand during the 4th quarter valued at $42,000. Millstone Evans Group LLC bought a new stake in Ingersoll Rand in the 4th quarter valued at $50,000. Finally, UMB Bank n.a. grew its position in Ingersoll Rand by 27.0% in the 4th quarter. UMB Bank n.a. now owns 598 shares of the industrial products company's stock worth $54,000 after purchasing an additional 127 shares during the last quarter. Institutional investors own 95.27% of the company's stock.

Ingersoll Rand Stock Performance

Shares of IR stock traded down $4.01 during trading on Friday, reaching $69.51. 6,552,942 shares of the company's stock were exchanged, compared to its average volume of 2,474,525. The firm's fifty day moving average price is $85.52 and its 200-day moving average price is $93.36. Ingersoll Rand Inc. has a twelve month low of $67.27 and a twelve month high of $106.03. The stock has a market capitalization of $28.02 billion, a PE ratio of 33.74, a PEG ratio of 3.50 and a beta of 1.48. The company has a quick ratio of 1.71, a current ratio of 2.29 and a debt-to-equity ratio of 0.46.

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

Ingersoll Rand Dividend Announcement

The company also recently declared 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 of this dividend was Wednesday, March 5th. This represents a $0.08 annualized dividend and a yield of 0.12%. Ingersoll Rand's payout ratio is currently 3.88%.

Analyst Upgrades and Downgrades

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

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.