Mitsubishi UFJ Asset Management Co. Ltd. Boosts Holdings in Ingersoll Rand Inc. (NYSE:IR)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 6.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 634,787 shares of the industrial products company's stock after purchasing an additional 37,361 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.16% of Ingersoll Rand worth $58,711,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its holdings 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 last quarter. Raymond James Financial Inc. bought a new stake in shares of Ingersoll Rand during the 4th quarter valued at $45,004,000. LPL Financial LLC increased its stake in shares of Ingersoll Rand by 204.0% in the 4th quarter. LPL Financial LLC now owns 706,886 shares of the industrial products company's stock worth $63,945,000 after purchasing an additional 474,331 shares in the last quarter. Vanguard Group Inc. lifted its position in Ingersoll Rand by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 45,684,016 shares of the industrial products company's stock valued at $4,132,576,000 after purchasing an additional 446,591 shares in the last quarter. Finally, Amundi grew its holdings in Ingersoll Rand by 17.0% during the fourth quarter. Amundi now owns 2,162,728 shares of the industrial products company's stock valued at $192,980,000 after purchasing an additional 313,674 shares during the period. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

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Ingersoll Rand Price Performance

NYSE IR traded up $0.62 during trading on Monday, hitting $80.06. 2,928,004 shares of the stock traded hands, compared to its average volume of 2,454,216. 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 12-month low of $77.28 and a 12-month high of $106.03. The firm has a 50-day simple moving average of $86.69 and a 200-day simple moving average of $93.73. The company has a market capitalization of $32.27 billion, a P/E ratio of 38.87, a price-to-earnings-growth ratio of 3.50 and a beta of 1.48.

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 net margin of 11.59% and a return on equity of 12.78%. The business had revenue of $1.90 billion during the quarter, compared to analysts' expectations of $1.91 billion. As a group, analysts predict that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Wednesday, March 5th were issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. The ex-dividend date was Wednesday, March 5th. Ingersoll Rand's payout ratio is 3.88%.

Wall Street Analyst Weigh In

IR has been the topic of several recent research reports. Evercore ISI decreased their price objective on Ingersoll Rand from $100.00 to $91.00 and set an "in-line" rating on the stock in a research note on Wednesday, February 19th. Barclays lowered their price target on shares of Ingersoll Rand from $96.00 to $93.00 and set an "overweight" rating on the stock in a report on Wednesday, March 26th. Robert W. Baird increased their price objective on shares of Ingersoll Rand from $105.00 to $111.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 18th. The Goldman Sachs Group lifted their target price 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. Finally, Stifel Nicolaus cut their price target on Ingersoll Rand from $100.00 to $94.00 and set a "hold" rating for the company in a research note on Tuesday, February 18th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Ingersoll Rand currently has an average rating of "Moderate Buy" and an average price target of $105.09.

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.