Dynamic Technology Lab Private Ltd bought a new stake in Ingersoll Rand Inc. (NYSE:IR - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 18,656 shares of the industrial products company's stock, valued at approximately $1,688,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in Ingersoll Rand in the fourth quarter valued at approximately $429,591,000. JPMorgan Chase & Co. grew its holdings in Ingersoll Rand by 8.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 18,229,178 shares of the industrial products company's stock valued at $1,789,376,000 after purchasing an additional 1,462,538 shares in the last quarter. Franklin Resources Inc. increased its stake in Ingersoll Rand by 5.9% during the 4th 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 during the period. Caisse Des Depots ET Consignations acquired a new position in Ingersoll Rand in the 4th quarter worth $47,763,000. Finally, Raymond James Financial Inc. purchased a new position in Ingersoll Rand in the 4th quarter valued at about $45,004,000. Institutional investors and hedge funds own 95.27% of the company's stock.
Ingersoll Rand Stock Performance
IR stock traded down $2.36 during midday trading on Thursday, reaching $70.96. The company had a trading volume of 3,259,953 shares, compared to its average volume of 2,524,910. The firm has a market capitalization of $28.60 billion, a PE ratio of 34.44, a P/E/G ratio of 3.50 and a beta of 1.40. The stock has a 50 day moving average price of $82.77 and a 200 day moving average price of $92.30. Ingersoll Rand Inc. has a fifty-two week low of $65.61 and a fifty-two week high of $106.03. 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 issued its quarterly earnings data on Thursday, February 13th. The industrial products company reported $0.81 EPS for the quarter, missing analysts' consensus estimates 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%. 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 disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Wednesday, March 5th were issued a $0.02 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.11%. Ingersoll Rand's dividend payout ratio (DPR) is presently 3.88%.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on IR. Barclays reduced their price target on Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating for the company in a report on Thursday. Evercore ISI decreased their price target on shares of 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. Wells Fargo & Company cut their price target on shares of Ingersoll Rand from $115.00 to $105.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. Robert W. Baird upped their target price on shares of Ingersoll Rand from $105.00 to $111.00 and gave the company an "outperform" rating in a research note on Tuesday, February 18th. Finally, Citigroup decreased their price target 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. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $104.36.
Check Out Our Latest Research Report on Ingersoll Rand
Ingersoll Rand Profile
(
Free Report)
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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