Allspring Global Investments Holdings LLC Trims Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

Allspring Global Investments Holdings LLC cut its holdings in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 5.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 299,834 shares of the industrial products company's stock after selling 17,229 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.07% of Ingersoll Rand worth $27,141,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new stake in Ingersoll Rand in the third quarter valued at approximately $34,000. Eastern Bank purchased a new stake in shares of Ingersoll Rand in the 3rd quarter valued at $42,000. UMB Bank n.a. lifted its stake in Ingersoll Rand by 27.0% during the 4th quarter. UMB Bank n.a. now owns 598 shares of the industrial products company's stock worth $54,000 after acquiring an additional 127 shares in the last quarter. Princeton Global Asset Management LLC purchased a new position in Ingersoll Rand during the 3rd quarter valued at about $65,000. Finally, Versant Capital Management Inc grew its position in Ingersoll Rand by 654.4% in the 4th quarter. Versant Capital Management Inc now owns 679 shares of the industrial products company's stock valued at $61,000 after acquiring an additional 589 shares in the last quarter. 95.27% of the stock is owned by institutional investors and hedge funds.

Ingersoll Rand Stock Down 1.1 %

Shares of IR traded down $0.99 during mid-day trading on Wednesday, reaching $85.76. The company's stock had a trading volume of 1,622,974 shares, compared to its average volume of 2,468,707. The company's 50 day moving average is $92.11 and its 200 day moving average is $95.08. The stock has a market cap of $34.56 billion, a PE ratio of 41.63, a price-to-earnings-growth ratio of 3.40 and a beta of 1.43. Ingersoll Rand Inc. has a 12-month low of $83.72 and a 12-month high of $106.03. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.29 and a quick ratio of 1.71.

Ingersoll Rand (NYSE:IR - Get Free Report) last released its quarterly earnings data 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 company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. Equities analysts anticipate that Ingersoll Rand Inc. will post 3.3 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

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 $0.02 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.08 annualized dividend and a yield of 0.09%. Ingersoll Rand's dividend payout ratio is presently 3.88%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Wells Fargo & Company reduced their price target on shares of Ingersoll Rand from $115.00 to $105.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 7th. Citigroup reduced their target price on shares of 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 raised their price target on shares of Ingersoll Rand from $105.00 to $111.00 and gave the company an "outperform" rating in a research report on Tuesday. Barclays cut their price objective on Ingersoll Rand from $115.00 to $102.00 and set an "overweight" rating on the stock in a research report on Tuesday. Finally, Evercore ISI decreased their target price on Ingersoll Rand from $100.00 to $91.00 and set an "in-line" rating for the company in a report on Wednesday. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Ingersoll Rand presently has an average rating of "Moderate Buy" and an average price target of $104.75.

About Ingersoll Rand

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.