Loomis Sayles & Co. L P Sells 23,386 Shares of Ingersoll Rand Inc. (NYSE:IR)

Loomis Sayles & Co. L P trimmed its holdings in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 17.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 113,120 shares of the industrial products company's stock after selling 23,386 shares during the period. Loomis Sayles & Co. L P's holdings in Ingersoll Rand were worth $10,233,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Savant Capital LLC boosted its holdings 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 buying an additional 158 shares during the period. Virtu Financial LLC acquired a new position in Ingersoll Rand during the 3rd quarter worth $864,000. Nordea Investment Management AB lifted its holdings in 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 period. abrdn plc increased its stake in shares of Ingersoll Rand by 70.5% during the fourth quarter. abrdn plc now owns 262,863 shares of the industrial products company's stock valued at $23,851,000 after acquiring an additional 108,700 shares during the period. Finally, AdvisorNet Financial Inc lifted its holdings in shares of Ingersoll Rand by 441.4% in the fourth quarter. AdvisorNet Financial Inc now owns 18,652 shares of the industrial products company's stock valued at $1,687,000 after buying an additional 15,207 shares during the period. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Citigroup lowered their price objective on shares of Ingersoll Rand from $119.00 to $115.00 and set a "buy" rating on the stock in a research note on Monday, January 13th. Robert W. Baird increased their price objective on Ingersoll Rand from $105.00 to $111.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 18th. Barclays reduced their price target on shares of Ingersoll Rand from $96.00 to $93.00 and set an "overweight" rating for the company in a research report on Wednesday, March 26th. Wells Fargo & Company lowered their price objective 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. Finally, Evercore ISI lowered their target price 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. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $105.09.

Ingersoll Rand Stock Performance

Shares of Ingersoll Rand stock traded down $7.58 on Thursday, reaching $74.12. The stock had a trading volume of 1,423,436 shares, compared to its average volume of 2,446,431. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.29. The business's 50-day moving average price is $85.93 and its two-hundred day moving average price is $93.50. The stock has a market cap of $29.88 billion, a P/E ratio of 35.98, a price-to-earnings-growth ratio of 3.50 and a beta of 1.48. Ingersoll Rand Inc. has a fifty-two week low of $73.91 and a fifty-two week high of $106.03.

Ingersoll Rand (NYSE:IR - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.85 by ($0.04). The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. On average, sell-side analysts forecast that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Wednesday, March 5th were given a $0.02 dividend. This represents a $0.08 annualized dividend 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.