Artisan Partners Limited Partnership Sells 4,776,310 Shares of Ingersoll Rand Inc. (NYSE:IR)

Artisan Partners Limited Partnership cut its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 75.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,592,362 shares of the industrial products company’s stock after selling 4,776,310 shares during the period. Artisan Partners Limited Partnership owned 0.40% of Ingersoll Rand worth $144,045,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of IR. Vanguard Group Inc. raised its holdings in Ingersoll Rand by 1.0% in 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 acquiring an additional 446,591 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Ingersoll Rand by 8.7% in the third quarter. JPMorgan Chase & Co. now owns 18,229,178 shares of the industrial products company’s stock valued at $1,789,376,000 after purchasing an additional 1,462,538 shares in the last quarter. FMR LLC grew its stake in Ingersoll Rand by 10.5% during the third quarter. FMR LLC now owns 16,152,094 shares of the industrial products company’s stock worth $1,585,489,000 after buying an additional 1,538,056 shares in the last quarter. State Street Corp raised its position in Ingersoll Rand by 0.7% during the third quarter. State Street Corp now owns 15,776,908 shares of the industrial products company’s stock valued at $1,548,661,000 after purchasing an additional 112,824 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in Ingersoll Rand by 2.5% in the third quarter. Franklin Resources Inc. now owns 11,597,321 shares of the industrial products company’s stock valued at $1,207,554,000 after buying an additional 278,710 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on IR shares. Citigroup decreased their price target on shares of Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, January 13th. 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 report on Thursday, December 12th. Wells Fargo & Company dropped their price target on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Stifel Nicolaus reduced their price objective on Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating on the stock in a research report on Tuesday, February 18th. Finally, Barclays dropped their target price on Ingersoll Rand from $96.00 to $93.00 and set an “overweight” rating for the company in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Ingersoll Rand has a consensus rating of “Moderate Buy” and a consensus price target of $105.09.

Ingersoll Rand Stock Down 1.2 %

IR stock opened at $81.37 on Thursday. The firm has a market capitalization of $32.80 billion, a PE ratio of 39.50, a PEG ratio of 3.50 and a beta of 1.48. Ingersoll Rand Inc. has a twelve month low of $79.79 and a twelve month high of $106.03. The stock has a 50-day simple moving average of $87.12 and a two-hundred day simple moving average of $93.80. The company has a quick ratio of 1.71, a current ratio of 2.29 and a debt-to-equity ratio of 0.46.

Ingersoll Rand (NYSE:IR) last announced its earnings results on Thursday, February 13th. The industrial products company reported $0.81 earnings per share 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 company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. On average, equities analysts predict that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Wednesday, March 5th will be given 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 dividend yield of 0.10%. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.88%.

Ingersoll Rand 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.