Prudential PLC Has $15.25 Million Holdings in Ingersoll Rand Inc. (NYSE:IR)

Prudential PLC reduced its position in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 10.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 168,552 shares of the industrial products company's stock after selling 20,254 shares during the quarter. Prudential PLC's holdings in Ingersoll Rand were worth $15,247,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

IR has been the subject of several recent analyst reports. Barclays decreased their target price on shares of Ingersoll Rand from $96.00 to $93.00 and set an "overweight" rating for the company in a report on Wednesday, March 26th. Citigroup cut their target price 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. Evercore ISI decreased their target price on 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. Wells Fargo & Company reduced their price objective on Ingersoll Rand from $115.00 to $105.00 and set an "overweight" rating for the company in a research note on Tuesday, January 7th. Finally, The Goldman Sachs Group raised their price target on shares of Ingersoll Rand from $109.00 to $121.00 and gave the stock a "buy" rating in a report on Thursday, December 12th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $105.09.

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Ingersoll Rand Stock Up 0.2 %

Shares of IR traded up $0.14 during trading hours on Wednesday, hitting $66.89. 1,825,615 shares of the company were exchanged, compared to its average volume of 2,497,969. The firm's 50 day moving average is $83.58 and its 200-day moving average is $92.60. Ingersoll Rand Inc. has a 52 week low of $64.43 and a 52 week high of $106.03. 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 company has a market cap of $26.96 billion, a PE ratio of 32.46, a PEG ratio of 3.50 and a beta of 1.40.

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

Ingersoll Rand Announces Dividend

The firm 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. The ex-dividend date was Wednesday, March 5th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.12%. Ingersoll Rand's dividend payout ratio (DPR) is presently 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.