Franklin Resources Inc. Increases Stake in Ingersoll Rand Inc. (NYSE:IR)

Franklin Resources Inc. boosted its stake in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 5.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,277,177 shares of the industrial products company's stock after purchasing an additional 679,856 shares during the period. Franklin Resources Inc. owned approximately 3.05% of Ingersoll Rand worth $1,110,593,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of IR. Norges Bank bought a new position in Ingersoll Rand in the 4th quarter worth $429,591,000. JPMorgan Chase & Co. raised its stake in shares of Ingersoll Rand by 8.7% in 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 buying an additional 1,462,538 shares during the period. Caisse Des Depots ET Consignations purchased a new position in shares of Ingersoll Rand during the 4th quarter valued at about $47,763,000. Raymond James Financial Inc. bought a new position in shares of Ingersoll Rand during the 4th quarter valued at approximately $45,004,000. Finally, LPL Financial LLC raised its stake in Ingersoll Rand by 204.0% during the 4th quarter. LPL Financial LLC now owns 706,886 shares of the industrial products company's stock worth $63,945,000 after acquiring an additional 474,331 shares during the period. 95.27% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on IR shares. Citigroup reduced their price objective on shares of Ingersoll Rand from $119.00 to $115.00 and set a "buy" rating for the company in a research note on Monday, January 13th. Robert W. Baird raised their price target on Ingersoll Rand from $105.00 to $111.00 and gave the company an "outperform" rating in a report on Tuesday, February 18th. Wells Fargo & Company dropped their price objective on Ingersoll Rand from $115.00 to $105.00 and set an "overweight" rating for the company in a research note on Tuesday, January 7th. The Goldman Sachs Group boosted their price target on Ingersoll Rand from $109.00 to $121.00 and gave the stock a "buy" rating in a report on Thursday, December 12th. Finally, Barclays dropped their price target on Ingersoll Rand from $96.00 to $93.00 and set an "overweight" rating for the company in a research note on Wednesday, March 26th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $105.09.

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Ingersoll Rand Price Performance

IR traded down $4.21 during trading hours on Friday, hitting $69.31. The company's stock had a trading volume of 2,156,431 shares, compared to its average volume of 2,457,620. The stock has a market cap of $27.94 billion, a price-to-earnings ratio of 33.60, a P/E/G ratio of 3.50 and a beta of 1.48. The business's 50-day moving average price is $85.52 and its 200-day moving average price is $93.36. The company has a current ratio of 2.29, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. Ingersoll Rand Inc. has a 12 month low of $67.27 and a 12 month high of $106.03.

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 analysts' consensus estimates of $0.85 by ($0.04). Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. Sell-side analysts expect that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 5th were paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.12%. The ex-dividend date of this dividend was Wednesday, March 5th. Ingersoll Rand's payout ratio is 3.88%.

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.