Hartford Investment Management Co. Has $2.26 Million Stake in Ingersoll Rand Inc. (NYSE:IR)

Hartford Investment Management Co. reduced its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 2.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,018 shares of the industrial products company’s stock after selling 570 shares during the quarter. Hartford Investment Management Co.’s holdings in Ingersoll Rand were worth $2,263,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of IR. Ashton Thomas Securities LLC purchased a new position in Ingersoll Rand during the third quarter valued at approximately $34,000. Eastern Bank acquired a new stake in shares of Ingersoll Rand during the 3rd quarter valued at $42,000. UMB Bank n.a. boosted its stake in shares of Ingersoll Rand by 27.0% during the 4th quarter. UMB Bank n.a. now owns 598 shares of the industrial products company’s stock valued at $54,000 after buying an additional 127 shares during the period. Versant Capital Management Inc increased its stake in shares of Ingersoll Rand by 654.4% in the fourth quarter. Versant Capital Management Inc now owns 679 shares of the industrial products company’s stock worth $61,000 after acquiring an additional 589 shares during the last quarter. Finally, Princeton Global Asset Management LLC purchased a new stake in shares of Ingersoll Rand during the third quarter worth $65,000. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Trading Up 1.3 %

Shares of NYSE:IR opened at $92.57 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.36. The stock’s 50-day moving average is $93.29 and its 200-day moving average is $95.29. The company has a market cap of $37.31 billion, a P/E ratio of 45.16, a P/E/G ratio of 3.66 and a beta of 1.43. Ingersoll Rand Inc. has a 52-week low of $83.72 and a 52-week high of $106.03.

Ingersoll Rand (NYSE:IR) last released its earnings results on Thursday, February 13th. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). Ingersoll Rand had a net margin of 11.72% and a return on equity of 13.01%. Equities research analysts predict that Ingersoll Rand Inc. will post 3.2 earnings per share for the current year.

Ingersoll Rand Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Wednesday, March 5th will be given a $0.02 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.08 annualized dividend and a yield of 0.09%. Ingersoll Rand’s dividend payout ratio is 3.90%.

Wall Street Analyst Weigh In

A number of research analysts have commented on IR shares. Robert W. Baird dropped their target price on Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Wells Fargo & Company cut 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. UBS Group began coverage on shares of Ingersoll Rand in a research report on Wednesday, November 13th. They issued a “buy” rating and a $124.00 target price for the company. Stifel Nicolaus cut their price target on shares of Ingersoll Rand from $107.00 to $100.00 and set a “hold” rating on the stock in a report on Friday, January 24th. Finally, Barclays decreased their price objective on shares of Ingersoll Rand from $120.00 to $115.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $105.92.

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.