Legal & General Group Plc Decreases Stake in Ingersoll Rand Inc. (NYSE:IR)

Legal & General Group Plc decreased its holdings in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 22.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,307,138 shares of the industrial products company's stock after selling 666,720 shares during the period. Legal & General Group Plc owned about 0.57% of Ingersoll Rand worth $208,703,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of IR. Invesco Ltd. boosted its stake in Ingersoll Rand by 2.9% in the fourth quarter. Invesco Ltd. now owns 3,125,280 shares of the industrial products company's stock valued at $282,713,000 after acquiring an additional 87,145 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Ingersoll Rand by 1.6% in the 4th quarter. Bank of Montreal Can now owns 497,178 shares of the industrial products company's stock worth $44,975,000 after purchasing an additional 7,791 shares in the last quarter. Polymer Capital Management US LLC purchased a new position in Ingersoll Rand during the 4th quarter worth $652,000. FMR LLC increased its holdings in shares of Ingersoll Rand by 8.2% during the fourth quarter. FMR LLC now owns 17,472,317 shares of the industrial products company's stock valued at $1,580,546,000 after acquiring an additional 1,320,223 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd raised its position in shares of Ingersoll Rand by 190.0% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,415 shares of the industrial products company's stock valued at $128,000 after purchasing an additional 927 shares during the last quarter. Hedge funds and other institutional investors own 95.27% of the company's stock.

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Analysts Set New Price Targets

IR has been the subject of several research analyst reports. Stifel Nicolaus reduced their price objective on Ingersoll Rand from $94.00 to $77.00 and set a "hold" rating for the company in a research note on Monday. Barclays reduced their price target on Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Citigroup cut their price target on Ingersoll Rand from $109.00 to $88.00 and set a "buy" rating for the company in a research note on Monday. Evercore ISI decreased their price objective on shares of Ingersoll Rand from $100.00 to $91.00 and set an "in-line" rating on the stock in a report on Wednesday, February 19th. Finally, Robert W. Baird boosted their price target on Ingersoll Rand from $105.00 to $111.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $100.36.

Ingersoll Rand Trading Up 0.5 %

Shares of NYSE:IR traded up $0.37 during midday trading on Tuesday, reaching $73.74. 445,445 shares of the company's stock were exchanged, compared to its average volume of 2,548,852. The firm's 50 day simple moving average is $81.56 and its two-hundred day simple moving average is $91.76. Ingersoll Rand Inc. has a fifty-two week low of $65.61 and a fifty-two week 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. The stock has a market cap of $29.72 billion, a price-to-earnings ratio of 35.80, a P/E/G ratio of 3.50 and a beta of 1.40.

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 the consensus estimate of $0.85 by ($0.04). Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. As a group, sell-side analysts forecast that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The firm also recently disclosed 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 0.11%. The ex-dividend date of this dividend was Wednesday, March 5th. Ingersoll Rand's dividend payout ratio (DPR) is currently 3.88%.

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.