Federated Hermes Inc. Sells 5,119 Shares of Ingersoll Rand Inc. (NYSE:IR)

Federated Hermes Inc. lessened its holdings in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 1.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 259,055 shares of the industrial products company's stock after selling 5,119 shares during the quarter. Federated Hermes Inc. owned approximately 0.06% of Ingersoll Rand worth $23,434,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Ingersoll Rand during the 4th quarter valued at approximately $429,591,000. JPMorgan Chase & Co. increased its position 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 acquiring an additional 1,462,538 shares during the period. Franklin Resources Inc. grew its position 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 worth $1,110,593,000 after purchasing an additional 679,856 shares during the last quarter. Caisse Des Depots ET Consignations bought a new stake in shares of Ingersoll Rand in the fourth quarter valued at about $47,763,000. Finally, Raymond James Financial Inc. bought a new position in Ingersoll Rand during the fourth quarter valued at about $45,004,000. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Ingersoll Rand Price Performance

IR traded up $0.59 during trading on Monday, hitting $73.59. The company's stock had a trading volume of 300,711 shares, compared to its average volume of 2,551,502. The company has a quick ratio of 1.71, a current ratio of 2.29 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $29.66 billion, a price-to-earnings ratio of 35.72, a price-to-earnings-growth ratio of 3.50 and a beta of 1.40. The firm's 50 day moving average price is $81.94 and its two-hundred day moving average price is $91.93. Ingersoll Rand Inc. has a 12 month low of $65.61 and a 12 month high of $106.03.

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Ingersoll Rand (NYSE:IR - Get Free Report) last announced 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). Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. Sell-side analysts forecast that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal 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 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 was Wednesday, March 5th. Ingersoll Rand's payout ratio is 3.88%.

Wall Street Analysts Forecast Growth

IR has been the subject of a number of research reports. Barclays reduced their price objective on Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating for the company in a research report on Thursday. Wells Fargo & Company reduced their price objective on shares of Ingersoll Rand from $115.00 to $105.00 and set an "overweight" rating for the company in a report on Tuesday, January 7th. Citigroup lowered their target price on shares of Ingersoll Rand from $119.00 to $115.00 and set a "buy" rating on the stock in a research note on Monday, January 13th. Robert W. Baird raised their price target on shares of Ingersoll Rand from $105.00 to $111.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 18th. Finally, Evercore ISI dropped their target price on Ingersoll Rand from $100.00 to $91.00 and set an "in-line" rating for the company in a report on Wednesday, February 19th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $102.82.

Ingersoll Rand Company 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.