Canada Pension Plan Investment Board Lowers Stock Position in Ingersoll Rand Inc. (NYSE:IR)

Canada Pension Plan Investment Board lessened its stake in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 22.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,109 shares of the industrial products company's stock after selling 28,811 shares during the quarter. Canada Pension Plan Investment Board's holdings in Ingersoll Rand were worth $8,965,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. increased 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 in the last quarter. JPMorgan Chase & Co. increased its holdings in 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. FMR LLC raised its stake in shares of Ingersoll Rand by 8.2% in the fourth quarter. FMR LLC now owns 17,472,317 shares of the industrial products company's stock worth $1,580,546,000 after purchasing an additional 1,320,223 shares during the last quarter. Franklin Resources Inc. grew its holdings in Ingersoll Rand by 5.9% during the fourth quarter. Franklin Resources Inc. now owns 12,277,177 shares of the industrial products company's stock worth $1,110,593,000 after buying an additional 679,856 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Ingersoll Rand by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 9,648,574 shares of the industrial products company's stock valued at $870,503,000 after buying an additional 212,107 shares during the last quarter. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IR has been the topic of a number of analyst reports. Barclays cut their price objective on shares of Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Citigroup reduced their price objective on shares of Ingersoll Rand from $109.00 to $88.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Robert W. Baird lifted their target price 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. Stifel Nicolaus cut their target price on Ingersoll Rand from $94.00 to $77.00 and set a "hold" rating on the stock in a research note on Monday, April 14th. Finally, Evercore ISI decreased their price target on Ingersoll Rand from $100.00 to $91.00 and set an "in-line" rating for the company in a research report on Wednesday, February 19th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $100.36.

Ingersoll Rand Stock Performance

IR traded down $0.84 during trading hours on Friday, hitting $74.90. The stock had a trading volume of 3,400,737 shares, compared to its average volume of 2,555,288. Ingersoll Rand Inc. has a 1 year low of $65.61 and a 1 year high of $106.03. The company's fifty day simple moving average is $78.46 and its 200 day simple moving average is $90.21. The stock has a market cap of $30.19 billion, a PE ratio of 36.36, a price-to-earnings-growth ratio of 3.50 and a beta of 1.40. The company has a quick ratio of 1.71, a current ratio of 2.29 and a debt-to-equity ratio of 0.46.

Ingersoll Rand (NYSE:IR - Get Free Report) last posted its earnings results 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). The business had revenue of $1.90 billion during the quarter, compared to analysts' expectations of $1.91 billion. Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. Equities analysts anticipate that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Thursday, May 15th will be issued 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 of this dividend is Thursday, May 15th. 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.