Ingersoll Rand Inc. (NYSE:IR) Shares Bought by Main Street Research LLC

Main Street Research LLC increased its holdings in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 2.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 365,501 shares of the industrial products company's stock after buying an additional 8,352 shares during the quarter. Ingersoll Rand accounts for about 2.1% of Main Street Research LLC's portfolio, making the stock its 24th largest position. Main Street Research LLC owned approximately 0.09% of Ingersoll Rand worth $33,063,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Savant Capital LLC increased its position in shares of Ingersoll Rand by 2.3% in the 4th quarter. Savant Capital LLC now owns 6,938 shares of the industrial products company's stock valued at $628,000 after acquiring an additional 158 shares during the period. Virtu Financial LLC acquired a new position in shares of Ingersoll Rand in the third quarter valued at about $864,000. Nordea Investment Management AB raised its stake in shares of Ingersoll Rand by 19.1% in the fourth quarter. Nordea Investment Management AB now owns 1,691,399 shares of the industrial products company's stock worth $153,867,000 after purchasing an additional 271,381 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Ingersoll Rand by 9.4% during the third quarter. Daiwa Securities Group Inc. now owns 90,827 shares of the industrial products company's stock worth $8,916,000 after purchasing an additional 7,784 shares during the period. Finally, abrdn plc increased its holdings in Ingersoll Rand by 70.5% in the 4th quarter. abrdn plc now owns 262,863 shares of the industrial products company's stock worth $23,851,000 after buying an additional 108,700 shares during the period. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

Several brokerages have commented on IR. The Goldman Sachs Group lifted their price objective on shares of Ingersoll Rand from $109.00 to $121.00 and gave the company a "buy" rating in a research note on Thursday, December 12th. Robert W. Baird increased their price target on Ingersoll Rand from $105.00 to $111.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. Stifel Nicolaus decreased their price objective on Ingersoll Rand from $100.00 to $94.00 and set a "hold" rating for the company in a report on Tuesday, February 18th. Evercore ISI dropped their target price on Ingersoll Rand from $100.00 to $91.00 and set an "in-line" rating on the stock in a report on Wednesday, February 19th. Finally, UBS Group assumed coverage on shares of Ingersoll Rand in a research note on Wednesday, November 13th. They issued a "buy" rating and a $124.00 target price for the company. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $105.36.

Ingersoll Rand Price Performance

Shares of Ingersoll Rand stock traded down $1.54 during trading hours on Thursday, reaching $79.95. 2,180,503 shares of the company's stock were exchanged, compared to its average volume of 2,380,878. The business has a fifty day moving average of $88.71 and a two-hundred day moving average of $94.34. The company has a market capitalization of $32.23 billion, a P/E ratio of 38.81, a price-to-earnings-growth ratio of 3.50 and a beta of 1.48. The company has a quick ratio of 1.71, a current ratio of 2.29 and a debt-to-equity ratio of 0.46. Ingersoll Rand Inc. has a 1 year low of $79.82 and a 1 year high of $106.03.

Ingersoll Rand (NYSE:IR - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.04). Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. The business had revenue of $1.90 billion for the quarter, compared to analysts' expectations of $1.91 billion. As a group, research analysts predict 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 will be paid on Thursday, March 27th. Shareholders of record on Wednesday, March 5th will be paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date is Wednesday, March 5th. Ingersoll Rand's dividend payout ratio (DPR) is currently 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.