Fmr LLC Buys 1,320,223 Shares of Ingersoll Rand Inc. (NYSE:IR)

FMR LLC grew its holdings in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 8.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,472,317 shares of the industrial products company's stock after acquiring an additional 1,320,223 shares during the quarter. FMR LLC owned 4.34% of Ingersoll Rand worth $1,580,546,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in IR. Aster Capital Management DIFC Ltd lifted its stake in Ingersoll Rand by 190.0% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,415 shares of the industrial products company's stock worth $128,000 after purchasing an additional 927 shares during the last quarter. Titleist Asset Management LLC bought a new stake in shares of Ingersoll Rand in the 4th quarter valued at about $286,000. Ilmarinen Mutual Pension Insurance Co purchased a new stake in Ingersoll Rand during the 4th quarter valued at about $7,780,000. Envestnet Asset Management Inc. grew its position in Ingersoll Rand by 9.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 285,339 shares of the industrial products company's stock worth $25,812,000 after acquiring an additional 25,128 shares during the last quarter. Finally, Wedbush Securities Inc. increased its stake in Ingersoll Rand by 38.2% in the 4th quarter. Wedbush Securities Inc. now owns 9,100 shares of the industrial products company's stock worth $823,000 after purchasing an additional 2,516 shares during the period. 95.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Robert W. Baird increased their price objective on Ingersoll Rand from $105.00 to $111.00 and gave the company an "outperform" rating in a research note on Tuesday, February 18th. Evercore ISI dropped 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. Citigroup decreased their price objective on shares of Ingersoll Rand from $119.00 to $115.00 and set a "buy" rating on the stock in a research report on Monday, January 13th. Stifel Nicolaus dropped their target price on shares of Ingersoll Rand from $100.00 to $94.00 and set a "hold" rating for the company in a report on Tuesday, February 18th. Finally, Wells Fargo & Company reduced their price target on Ingersoll Rand from $115.00 to $105.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $104.36.

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Ingersoll Rand Stock Up 3.1 %

Shares of IR stock traded up $2.17 during midday trading on Friday, reaching $73.11. 4,559,418 shares of the stock were exchanged, compared to its average volume of 2,556,124. The firm has a market cap of $29.47 billion, a PE ratio of 35.49, a price-to-earnings-growth ratio of 3.50 and a beta of 1.40. The company has a current ratio of 2.29, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The company's 50 day moving average is $81.94 and its two-hundred day moving average is $91.96. Ingersoll Rand Inc. has a 1 year low of $65.61 and a 1 year high of $106.03.

Ingersoll Rand (NYSE:IR - Get Free Report) last issued its quarterly 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 firm 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%. On average, equities research analysts predict that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Announces Dividend

The firm 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 currently 3.88%.

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.