Ilmarinen Mutual Pension Insurance Co Invests $7.78 Million in Ingersoll Rand Inc. (NYSE:IR)

Ilmarinen Mutual Pension Insurance Co bought a new stake in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 86,000 shares of the industrial products company's stock, valued at approximately $7,780,000.

Several other institutional investors also recently modified their holdings of the business. Norges Bank purchased a new stake in shares of Ingersoll Rand during the 4th quarter valued at about $429,591,000. JPMorgan Chase & Co. lifted 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 valued at $1,789,376,000 after purchasing 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 period. Caisse Des Depots ET Consignations purchased a new stake in Ingersoll Rand during the 4th quarter valued at $47,763,000. Finally, Raymond James Financial Inc. bought a new position in shares of Ingersoll Rand during the 4th quarter valued at $45,004,000. 95.27% of the stock is owned by hedge funds and other institutional investors.

Ingersoll Rand Stock Up 1.9 %

Shares of Ingersoll Rand stock traded up $1.38 during trading on Friday, reaching $72.32. The company's stock had a trading volume of 1,744,187 shares, compared to its average volume of 2,541,500. Ingersoll Rand Inc. has a 1-year low of $65.61 and a 1-year high of $106.03. The company has a 50-day simple moving average of $82.33 and a two-hundred day simple moving average of $92.11. 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 company has a market cap of $29.15 billion, a price-to-earnings ratio of 35.07, a P/E/G ratio of 3.50 and a beta of 1.40.

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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 analysts' consensus estimates of $0.85 by ($0.04). The business had revenue of $1.90 billion for 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%. As a group, equities analysts forecast that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Wednesday, March 5th were given a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.11%. The ex-dividend date of this dividend was Wednesday, March 5th. Ingersoll Rand's payout ratio is 3.88%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on IR shares. Wells Fargo & Company lowered their target price on Ingersoll Rand from $115.00 to $105.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. Citigroup decreased their price target on Ingersoll Rand from $119.00 to $115.00 and set a "buy" rating on the stock in a report on Monday, January 13th. Robert W. Baird lifted their price target on shares of Ingersoll Rand from $105.00 to $111.00 and gave the company an "outperform" rating in a report on Tuesday, February 18th. Evercore ISI dropped their price objective on shares of Ingersoll Rand from $100.00 to $91.00 and set an "in-line" rating for the company in a research note on Wednesday, February 19th. Finally, Barclays reduced their target price on shares of Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating on the stock in a research note on Thursday. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Ingersoll Rand has a consensus rating of "Moderate Buy" and an average target price of $104.36.

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.