Sterling Capital Management LLC Acquires 8,575 Shares of Ingersoll Rand Inc. (NYSE:IR)

Sterling Capital Management LLC grew its holdings in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 52.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,826 shares of the industrial products company's stock after purchasing an additional 8,575 shares during the period. Sterling Capital Management LLC's holdings in Ingersoll Rand were worth $2,246,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Ingersoll Rand by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 45,684,016 shares of the industrial products company's stock valued at $4,132,576,000 after purchasing an additional 446,591 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Ingersoll Rand by 3.6% in the 4th quarter. JPMorgan Chase & Co. now owns 18,878,280 shares of the industrial products company's stock worth $1,707,729,000 after acquiring an additional 649,102 shares during the last quarter. FMR LLC raised its holdings in shares of Ingersoll Rand by 8.2% in the 4th quarter. FMR LLC now owns 17,472,317 shares of the industrial products company's stock valued at $1,580,546,000 after acquiring an additional 1,320,223 shares in the last quarter. Franklin Resources Inc. grew 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 worth $1,110,593,000 after purchasing an additional 679,856 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Ingersoll Rand by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 9,648,574 shares of the industrial products company's stock valued at $870,503,000 after purchasing an additional 212,107 shares in the last quarter. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IR has been the topic of several research reports. Wells Fargo & Company lowered their price objective on shares of Ingersoll Rand from $115.00 to $105.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 7th. Citigroup reduced their price objective on Ingersoll Rand from $109.00 to $88.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Robert W. Baird increased their price target on shares of Ingersoll Rand from $105.00 to $111.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. Evercore ISI decreased their target price on shares of 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. Finally, Stifel Nicolaus decreased their price objective on Ingersoll Rand from $94.00 to $77.00 and set a "hold" rating on the stock in a report on Monday, April 14th. Six equities 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, Ingersoll Rand presently has an average rating of "Moderate Buy" and a consensus target price of $100.36.

Ingersoll Rand Stock Up 1.0 %

Shares of IR stock traded up $0.69 during midday trading on Friday, reaching $72.05. 1,891,025 shares of the stock were exchanged, compared to its average volume of 2,561,485. The firm has a market cap of $29.04 billion, a PE ratio of 34.98, a price-to-earnings-growth ratio of 3.50 and a beta of 1.40. The company has a current ratio of 2.29, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The company's 50 day moving average is $79.98 and its two-hundred day moving average is $91.13. Ingersoll Rand Inc. has a 1 year low of $65.61 and a 1 year high of $106.03.

Ingersoll Rand (NYSE:IR - Get Free Report) last announced 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 net margin of 11.59% and a return on equity of 12.78%. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. On average, equities research 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 issued a dividend of $0.02 per share. The ex-dividend date was Wednesday, March 5th. This represents a $0.08 annualized dividend and a dividend yield of 0.11%. Ingersoll Rand's payout ratio 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.