Cartenna Capital LP Has $26.70 Million Position in Ingersoll Rand Inc. (NYSE:IR)

Cartenna Capital LP cut its holdings in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 50.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 295,136 shares of the industrial products company's stock after selling 304,864 shares during the quarter. Ingersoll Rand comprises 1.3% of Cartenna Capital LP's holdings, making the stock its 22nd biggest position. Cartenna Capital LP owned approximately 0.07% of Ingersoll Rand worth $26,698,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of IR. Norges Bank acquired a new stake in Ingersoll Rand in the 4th quarter valued at approximately $429,591,000. Capital International Investors raised its holdings in shares of Ingersoll Rand by 4.6% in the fourth quarter. Capital International Investors now owns 36,673,865 shares of the industrial products company's stock valued at $3,317,537,000 after purchasing an additional 1,606,363 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Ingersoll Rand by 8.7% during the third quarter. JPMorgan Chase & Co. now owns 18,229,178 shares of the industrial products company's stock worth $1,789,376,000 after purchasing an additional 1,462,538 shares during the last quarter. FMR LLC grew its position in Ingersoll Rand by 8.2% in the fourth quarter. FMR LLC now owns 17,472,317 shares of the industrial products company's stock valued at $1,580,546,000 after purchasing an additional 1,320,223 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in Ingersoll Rand by 5.9% in the 4th quarter. Franklin Resources Inc. now owns 12,277,177 shares of the industrial products company's stock valued at $1,110,593,000 after buying an additional 679,856 shares during the last quarter. 95.27% of the stock is owned by institutional investors.

Ingersoll Rand Price Performance

Shares of NYSE IR opened at $73.39 on Thursday. The business has a fifty day moving average price of $78.89 and a two-hundred day moving average price of $90.54. The stock has a market capitalization of $29.58 billion, a PE ratio of 35.62, a P/E/G ratio of 3.50 and a beta of 1.40. 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 Inc. has a fifty-two week low of $65.61 and a fifty-two week high of $106.03.

Ingersoll Rand (NYSE:IR - Get Free Report) last posted 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). The firm 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, equities analysts predict that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Wednesday, March 5th were given a dividend of $0.02 per share. The ex-dividend date was Wednesday, March 5th. This represents a $0.08 annualized dividend and a yield of 0.11%. Ingersoll Rand's dividend payout ratio is currently 3.88%.

Analyst Upgrades and Downgrades

IR has been the topic of a number of analyst reports. Robert W. Baird upped their price objective on Ingersoll Rand from $105.00 to $111.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 18th. Stifel Nicolaus dropped their price objective 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. Evercore ISI reduced their target price on Ingersoll Rand from $100.00 to $91.00 and set an "in-line" rating for the company in a research note on Wednesday, February 19th. Wells Fargo & Company dropped their price target on Ingersoll Rand from $115.00 to $105.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 7th. Finally, Barclays decreased 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. Six equities 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, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $100.36.

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.

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