State of Tennessee Department of Treasury Has $14.09 Million Position in Ingersoll Rand Inc. (NYSE:IR)

State of Tennessee Department of Treasury lessened its holdings in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 12.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 155,801 shares of the industrial products company's stock after selling 21,426 shares during the period. State of Tennessee Department of Treasury's holdings in Ingersoll Rand were worth $14,094,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IR. Virtu Financial LLC acquired a new stake in shares of Ingersoll Rand in the 3rd quarter valued at $864,000. Pine Valley Investments Ltd Liability Co boosted its position in Ingersoll Rand by 11.3% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 3,043 shares of the industrial products company's stock valued at $299,000 after buying an additional 309 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Ingersoll Rand during the third quarter worth about $562,000. Franklin Resources Inc. increased its holdings in shares of Ingersoll Rand by 2.5% during the third quarter. Franklin Resources Inc. now owns 11,597,321 shares of the industrial products company's stock worth $1,207,554,000 after buying an additional 278,710 shares in the last quarter. Finally, Oddo BHF Asset Management Sas bought a new position in shares of Ingersoll Rand in the third quarter valued at approximately $2,193,000. Institutional investors own 95.27% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on IR. Citigroup dropped their price target on Ingersoll Rand from $109.00 to $88.00 and set a "buy" rating for the company in a report on Monday, April 14th. Evercore ISI cut their price target on Ingersoll Rand from $100.00 to $91.00 and set an "in-line" rating for the company in a report on Wednesday, February 19th. Wells Fargo & Company decreased their price objective on shares of Ingersoll Rand from $115.00 to $105.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. Barclays dropped their target price on shares of Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Finally, Robert W. Baird upped their target price 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. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Ingersoll Rand has an average rating of "Moderate Buy" and a consensus target price of $100.36.

Ingersoll Rand Trading Up 3.7 %

Shares of NYSE IR opened at $72.27 on Wednesday. The company's 50 day simple moving average is $79.14 and its 200 day simple moving average is $90.66. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.29 and a quick ratio of 1.71. Ingersoll Rand Inc. has a fifty-two week low of $65.61 and a fifty-two week high of $106.03. The firm has a market capitalization of $29.13 billion, a P/E ratio of 35.08, a P/E/G ratio of 3.50 and a beta of 1.40.

Ingersoll Rand (NYSE:IR - Get Free Report) last posted its quarterly 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 during 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%. On average, analysts predict that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 5th were paid 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 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.

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