Fmr LLC Raises Position in Ingersoll Rand Inc. (NYSE:IR)

Fmr LLC grew its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 8.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 17,472,317 shares of the industrial products company’s stock after acquiring an additional 1,320,223 shares during the period. Fmr LLC owned about 4.34% of Ingersoll Rand worth $1,580,546,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in IR. Murphy & Mullick Capital Management Corp purchased a new stake in Ingersoll Rand in the fourth quarter worth $36,000. OFI Invest Asset Management purchased a new stake in shares of Ingersoll Rand in the 4th quarter worth about $38,000. Lee Danner & Bass Inc. bought a new position in shares of Ingersoll Rand in the 4th quarter worth about $42,000. Millstone Evans Group LLC purchased a new position in Ingersoll Rand during the 4th quarter valued at about $50,000. Finally, UMB Bank n.a. boosted its stake in 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 in the last quarter. Institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Stock Down 5.5 %

Shares of Ingersoll Rand stock opened at $69.51 on Monday. The company has a market cap of $28.02 billion, a price-to-earnings ratio of 33.74, a price-to-earnings-growth ratio of 3.50 and a beta of 1.40. The company has a quick ratio of 1.71, a current ratio of 2.29 and a debt-to-equity ratio of 0.46. The company’s 50 day moving average is $85.05 and its 200 day moving average is $93.21. Ingersoll Rand Inc. has a twelve month low of $67.19 and a twelve month high of $106.03.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings results on Thursday, February 13th. The industrial products company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.04). Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. Research analysts anticipate that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Wednesday, March 5th were issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.12%. The ex-dividend date was Wednesday, March 5th. Ingersoll Rand’s dividend payout ratio is 3.88%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on IR. Wells Fargo & Company lowered their target price on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. The Goldman Sachs Group boosted their target price on Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Barclays reduced their price target on Ingersoll Rand from $96.00 to $93.00 and set an “overweight” rating for the company in a report on Wednesday, March 26th. Citigroup dropped their price target 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. Finally, Stifel Nicolaus reduced their price objective on shares of Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating for the company in a research note on Tuesday, February 18th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $105.09.

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.