Gamco Investors INC. ET AL Lowers Position in Ingersoll Rand Inc. (NYSE:IR)

Gamco Investors INC. ET AL trimmed its position in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 9.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 91,694 shares of the industrial products company's stock after selling 9,179 shares during the quarter. Gamco Investors INC. ET AL's holdings in Ingersoll Rand were worth $8,295,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in Ingersoll Rand during the fourth quarter worth $429,591,000. JPMorgan Chase & Co. increased its position in shares of 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 during the last quarter. FMR LLC raised its stake in shares of Ingersoll Rand by 8.2% during the 4th quarter. FMR LLC now owns 17,472,317 shares of the industrial products company's stock worth $1,580,546,000 after purchasing an additional 1,320,223 shares during the period. Franklin Resources Inc. raised its stake in shares of 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 purchasing an additional 679,856 shares during the period. Finally, Caisse Des Depots ET Consignations purchased a new position in shares of Ingersoll Rand in the 4th quarter worth about $47,763,000. Institutional investors own 95.27% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on IR. Robert W. Baird raised their price objective on shares of Ingersoll Rand from $105.00 to $111.00 and gave the stock an "outperform" rating in a report on Tuesday, February 18th. Barclays decreased their price target on shares of Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. 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. Wells Fargo & Company decreased their target price on Ingersoll Rand from $115.00 to $105.00 and set an "overweight" rating for the company in a research report on Tuesday, January 7th. Finally, Evercore ISI dropped their price target on Ingersoll Rand from $100.00 to $91.00 and set an "in-line" rating on the stock in a research report on Wednesday, February 19th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $100.36.

Ingersoll Rand Stock Performance

Ingersoll Rand stock opened at $71.43 on Thursday. 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 debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.29. The stock has a market cap of $28.79 billion, a P/E ratio of 34.67, a price-to-earnings-growth ratio of 3.50 and a beta of 1.40. The firm's fifty day moving average price is $80.78 and its 200-day moving average price is $91.49.

Ingersoll Rand (NYSE:IR - Get Free Report) last released its quarterly 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 net margin of 11.59% and a return on equity of 12.78%. The firm had revenue of $1.90 billion for the quarter, compared to analysts' expectations of $1.91 billion. On average, equities research analysts expect that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Wednesday, March 5th were paid a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.11%. The ex-dividend date of this dividend was Wednesday, March 5th. Ingersoll Rand's dividend 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.