Kornitzer Capital Management Inc. KS Has $708,000 Stock Position in Ingersoll Rand Inc. (NYSE:IR)

Kornitzer Capital Management Inc. KS trimmed its holdings in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 91.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,825 shares of the industrial products company's stock after selling 89,314 shares during the period. Kornitzer Capital Management Inc. KS's holdings in Ingersoll Rand were worth $708,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in IR. Ashton Thomas Securities LLC acquired a new stake in shares of Ingersoll Rand in the 3rd quarter valued at $34,000. Eastern Bank acquired a new stake in shares of Ingersoll Rand in the third quarter worth about $42,000. UMB Bank n.a. lifted its position in shares of Ingersoll Rand by 27.0% in the fourth quarter. UMB Bank n.a. now owns 598 shares of the industrial products company's stock worth $54,000 after buying an additional 127 shares during the last quarter. Versant Capital Management Inc boosted its stake in shares of Ingersoll Rand by 654.4% during the 4th quarter. Versant Capital Management Inc now owns 679 shares of the industrial products company's stock worth $61,000 after acquiring an additional 589 shares in the last quarter. Finally, Princeton Global Asset Management LLC acquired a new position in shares of Ingersoll Rand during the 3rd quarter valued at about $65,000. 95.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. UBS Group assumed coverage on Ingersoll Rand in a research report on Wednesday, November 13th. They set a "buy" rating and a $124.00 target price for the company. Stifel Nicolaus decreased their price objective on shares of Ingersoll Rand from $100.00 to $94.00 and set a "hold" rating for the company in a report on Tuesday. Robert W. Baird boosted their target price on shares of Ingersoll Rand from $105.00 to $111.00 and gave the stock an "outperform" rating in a research report on Tuesday. Barclays lowered their price target on Ingersoll Rand from $115.00 to $102.00 and set an "overweight" rating on the stock in a research report on Tuesday. Finally, The Goldman Sachs Group boosted their price objective on Ingersoll Rand from $109.00 to $121.00 and gave the stock a "buy" rating in a research report on Thursday, December 12th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Ingersoll Rand presently has a consensus rating of "Moderate Buy" and a consensus price target of $104.75.

Ingersoll Rand Price Performance

IR stock traded down $3.40 during midday trading on Friday, reaching $83.37. 1,534,217 shares of the company's stock traded hands, compared to its average volume of 2,483,965. 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 $83.36 and a 1-year high of $106.03. The company has a market cap of $33.60 billion, a price-to-earnings ratio of 40.47, a PEG ratio of 3.47 and a beta of 1.43. The company has a 50-day simple moving average of $91.50 and a two-hundred day simple moving average of $94.95.

Ingersoll Rand (NYSE:IR - Get Free Report) last announced its earnings results on Thursday, February 13th. The industrial products company reported $0.81 EPS for the quarter, missing the consensus estimate 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%. On average, analysts anticipate that Ingersoll Rand Inc. will post 3.31 earnings per share for the current year.

Ingersoll Rand Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Wednesday, March 5th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date of this dividend is Wednesday, March 5th. Ingersoll Rand's payout ratio is presently 3.88%.

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.