Ingersoll Rand Inc. (NYSE:IR) Shares Bought by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. grew its position in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 3.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 257,223 shares of the industrial products company's stock after purchasing an additional 7,502 shares during the period. Royal London Asset Management Ltd. owned approximately 0.06% of Ingersoll Rand worth $23,268,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Savant Capital LLC grew its stake in shares of Ingersoll Rand by 2.3% during the 4th quarter. Savant Capital LLC now owns 6,938 shares of the industrial products company's stock worth $628,000 after purchasing an additional 158 shares during the period. Virtu Financial LLC purchased a new stake in shares of Ingersoll Rand in the third quarter valued at approximately $864,000. Nordea Investment Management AB raised its stake in shares of Ingersoll Rand by 19.1% during the 4th quarter. Nordea Investment Management AB now owns 1,691,399 shares of the industrial products company's stock worth $153,867,000 after buying an additional 271,381 shares during the period. Daiwa Securities Group Inc. lifted its position in shares of Ingersoll Rand by 9.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 90,827 shares of the industrial products company's stock valued at $8,916,000 after buying an additional 7,784 shares in the last quarter. Finally, abrdn plc grew its stake in Ingersoll Rand by 70.5% in the 4th quarter. abrdn plc now owns 262,863 shares of the industrial products company's stock valued at $23,851,000 after acquiring an additional 108,700 shares during the period. 95.27% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on IR. Robert W. Baird upped 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 upped their price target on shares of Ingersoll Rand from $109.00 to $121.00 and gave the stock a "buy" rating in a research report on Thursday, December 12th. Wells Fargo & Company lowered their price objective on Ingersoll Rand from $115.00 to $105.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. Stifel Nicolaus reduced their target price on Ingersoll Rand from $100.00 to $94.00 and set a "hold" rating for the company in a report on Tuesday, February 18th. Finally, Barclays decreased their target price on Ingersoll Rand from $96.00 to $93.00 and set an "overweight" rating on the stock in a research report on Wednesday. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Ingersoll Rand currently has a consensus rating of "Moderate Buy" and an average price target of $105.09.

Ingersoll Rand Trading Down 1.2 %

Shares of NYSE IR traded down $1.00 during trading on Wednesday, hitting $81.37. 1,782,018 shares of the company were exchanged, compared to its average volume of 2,592,014. The company has a fifty day moving average price of $87.30 and a 200-day moving average price of $93.89. 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 firm has a market capitalization of $32.80 billion, a PE ratio of 39.50, a P/E/G ratio of 3.50 and a beta of 1.48. Ingersoll Rand Inc. has a 12-month low of $79.79 and a 12-month high of $106.03.

Ingersoll Rand (NYSE:IR - Get Free Report) last issued its earnings results on Thursday, February 13th. The industrial products company reported $0.81 EPS 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 for the quarter, compared to analysts' expectations of $1.91 billion. As a group, equities research analysts expect that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Wednesday, March 5th will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.08 annualized dividend and a yield of 0.10%. Ingersoll Rand's dividend payout ratio (DPR) is 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.