Cerity Partners LLC Cuts Stock Position in Ingersoll Rand Inc. (NYSE:IR)

Cerity Partners LLC trimmed its holdings in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 16.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 227,689 shares of the industrial products company's stock after selling 44,403 shares during the period. Cerity Partners LLC owned about 0.06% of Ingersoll Rand worth $20,706,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Savant Capital LLC grew its stake 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 worth $628,000 after acquiring an additional 158 shares in the last quarter. Virtu Financial LLC bought a new stake in Ingersoll Rand in the 3rd quarter worth about $864,000. Nordea Investment Management AB increased its stake in Ingersoll Rand by 19.1% in the 4th quarter. Nordea Investment Management AB now owns 1,691,399 shares of the industrial products company's stock valued at $153,867,000 after buying an additional 271,381 shares during the last quarter. abrdn plc lifted its position in shares of Ingersoll Rand by 70.5% during 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 in the last quarter. Finally, AdvisorNet Financial Inc boosted its stake in shares of Ingersoll Rand by 441.4% in the 4th quarter. AdvisorNet Financial Inc now owns 18,652 shares of the industrial products company's stock worth $1,687,000 after buying an additional 15,207 shares during the last quarter. 95.27% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

A number of analysts recently commented on IR shares. Citigroup decreased their price target on Ingersoll Rand from $119.00 to $115.00 and set a "buy" rating for the company in a research report on Monday, January 13th. Barclays decreased their target price on Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating for the company in a research report on Thursday. Wells Fargo & Company cut their price target on shares of Ingersoll Rand from $115.00 to $105.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. Robert W. Baird lifted their price objective on shares of Ingersoll Rand from $105.00 to $111.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. Finally, Evercore ISI reduced their target price on shares of Ingersoll Rand from $100.00 to $91.00 and set an "in-line" rating for the company in a research report on Wednesday, February 19th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Ingersoll Rand has a consensus rating of "Moderate Buy" and an average price target of $102.82.

Ingersoll Rand Stock Performance

Shares of NYSE:IR traded up $0.50 during midday trading on Monday, reaching $73.50. 353,531 shares of the company traded hands, compared to its average volume of 2,551,733. Ingersoll Rand Inc. has a 12 month low of $65.61 and a 12 month high of $106.03. The firm has a market capitalization of $29.63 billion, a price-to-earnings ratio of 35.68, a price-to-earnings-growth ratio of 3.50 and a beta of 1.40. 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 firm's fifty day moving average price is $81.94 and its two-hundred day moving average price is $91.93.

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 (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.04). The firm had revenue of $1.90 billion during 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%. On average, equities analysts expect that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand Announces Dividend

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