Massachusetts Financial Services Co. MA Has $154.84 Million Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

Massachusetts Financial Services Co. MA reduced its position in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 27.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,711,743 shares of the industrial products company's stock after selling 648,217 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.42% of Ingersoll Rand worth $154,844,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of IR. Norges Bank purchased a new stake in shares of Ingersoll Rand in the fourth quarter valued at about $429,591,000. JPMorgan Chase & Co. grew its stake in shares of Ingersoll Rand by 8.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 18,229,178 shares of the industrial products company's stock valued at $1,789,376,000 after buying an additional 1,462,538 shares during the period. Franklin Resources Inc. increased its holdings in shares of Ingersoll Rand by 5.9% during the 4th quarter. Franklin Resources Inc. now owns 12,277,177 shares of the industrial products company's stock worth $1,110,593,000 after buying an additional 679,856 shares during the last quarter. Caisse Des Depots ET Consignations purchased a new stake in shares of Ingersoll Rand during the 4th quarter valued at approximately $47,763,000. Finally, Raymond James Financial Inc. purchased a new position in Ingersoll Rand in the fourth quarter worth approximately $45,004,000. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IR has been the subject of a number of research analyst reports. Robert W. Baird increased 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. The Goldman Sachs Group raised their target price on Ingersoll Rand from $109.00 to $121.00 and gave the company a "buy" rating in a report on Thursday, December 12th. Stifel Nicolaus lowered their price objective on shares of Ingersoll Rand from $100.00 to $94.00 and set a "hold" rating for the company in a research note on Tuesday, February 18th. Barclays cut their target price on shares of Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating on the stock in a research note on Thursday. Finally, Wells Fargo & Company cut their price objective on Ingersoll Rand from $115.00 to $105.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 7th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, Ingersoll Rand presently has a consensus rating of "Moderate Buy" and an average target price of $104.36.

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Ingersoll Rand Trading Down 3.7 %

NYSE IR traded down $2.71 during trading hours on Thursday, hitting $70.61. 2,319,927 shares of the company's stock were exchanged, compared to its average volume of 2,520,501. The business's 50 day moving average is $82.77 and its 200-day moving average is $92.30. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.29. 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 $28.46 billion, a P/E ratio of 34.19, a price-to-earnings-growth ratio of 3.50 and a beta of 1.40.

Ingersoll Rand (NYSE:IR - Get Free Report) last issued its earnings results 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). Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. As a group, analysts anticipate that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend 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 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.