Resona Asset Management Co. Ltd. Takes $11.02 Million Position in Ingersoll Rand Inc. (NYSE:IR)

Resona Asset Management Co. Ltd. acquired a new position in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 121,645 shares of the industrial products company's stock, valued at approximately $11,024,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Murphy & Mullick Capital Management Corp bought a new position in shares of Ingersoll Rand during the 4th quarter worth approximately $36,000. OFI Invest Asset Management bought a new position in Ingersoll Rand during the fourth quarter worth about $38,000. Lee Danner & Bass Inc. bought a new position in Ingersoll Rand during the fourth quarter worth $42,000. Millstone Evans Group LLC bought a new position in Ingersoll Rand in the 4th quarter valued at about $50,000. Finally, UMB Bank n.a. boosted its holdings in shares of Ingersoll Rand by 27.0% during the fourth quarter. UMB Bank n.a. now owns 598 shares of the industrial products company's stock worth $54,000 after acquiring an additional 127 shares during the period. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

IR has been the subject of several recent research reports. The Goldman Sachs Group boosted their price target on Ingersoll Rand from $109.00 to $121.00 and gave the company a "buy" rating in a research note on Thursday, December 12th. Evercore ISI reduced their price target on Ingersoll Rand from $100.00 to $91.00 and set an "in-line" rating on the stock in a research report on Wednesday, February 19th. Robert W. Baird increased their target price on Ingersoll Rand from $105.00 to $111.00 and gave the stock an "outperform" rating in a report on Tuesday, February 18th. Stifel Nicolaus dropped their price target on Ingersoll Rand from $100.00 to $94.00 and set a "hold" rating for the company in a research note on Tuesday, February 18th. Finally, Barclays decreased their price objective 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. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $104.36.

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Ingersoll Rand Trading Up 1.0 %

IR traded up $0.70 during trading on Friday, reaching $71.64. 1,282,533 shares of the company's stock were exchanged, compared to its average volume of 2,539,957. The firm has a fifty day moving average price of $82.33 and a two-hundred day moving average price of $92.11. The stock has a market capitalization of $28.88 billion, a PE ratio of 34.78, a price-to-earnings-growth ratio of 3.50 and a beta of 1.40. Ingersoll Rand Inc. has a one year low of $65.61 and a one year high of $106.03. The company has a current ratio of 2.29, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46.

Ingersoll Rand (NYSE:IR - Get Free Report) last announced its earnings results on Thursday, February 13th. The industrial products company reported $0.81 earnings per share (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 the consensus estimate of $1.91 billion. Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. As a group, equities research analysts forecast that Ingersoll Rand Inc. will post 3.32 earnings per share 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 given a $0.02 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.11%. Ingersoll Rand's dividend payout ratio (DPR) 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.