Pictet Asset Management Holding SA Lowers Stock Position in Ingersoll Rand Inc. (NYSE:IR)

Pictet Asset Management Holding SA cut its holdings in Ingersoll Rand Inc. (NYSE:IR) by 9.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,026,309 shares of the industrial products company’s stock after selling 204,466 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.50% of Ingersoll Rand worth $183,300,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of IR. Public Sector Pension Investment Board boosted its holdings in Ingersoll Rand by 13.6% in the third quarter. Public Sector Pension Investment Board now owns 17,570 shares of the industrial products company’s stock worth $1,725,000 after acquiring an additional 2,100 shares in the last quarter. PEAK6 Investments LLC boosted its stake in Ingersoll Rand by 5.8% in the 3rd quarter. PEAK6 Investments LLC now owns 19,038 shares of the industrial products company’s stock worth $1,869,000 after purchasing an additional 1,038 shares in the last quarter. Northwest & Ethical Investments L.P. grew its position in Ingersoll Rand by 2.1% during the 3rd quarter. Northwest & Ethical Investments L.P. now owns 35,351 shares of the industrial products company’s stock valued at $3,470,000 after purchasing an additional 728 shares during the last quarter. Verition Fund Management LLC increased its stake in Ingersoll Rand by 108.2% during the 3rd quarter. Verition Fund Management LLC now owns 7,377 shares of the industrial products company’s stock valued at $724,000 after purchasing an additional 3,834 shares in the last quarter. Finally, Edgestream Partners L.P. raised its holdings in Ingersoll Rand by 99.5% in the third quarter. Edgestream Partners L.P. now owns 17,031 shares of the industrial products company’s stock worth $1,672,000 after buying an additional 8,496 shares during the last quarter. 95.27% of the stock is currently owned by institutional investors.

Ingersoll Rand Price Performance

NYSE IR opened at $79.38 on Friday. 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 firm has a market capitalization of $32.00 billion, a P/E ratio of 38.53, a PEG ratio of 3.50 and a beta of 1.48. The company has a 50-day moving average price of $86.69 and a 200-day moving average price of $93.66. Ingersoll Rand Inc. has a 52 week low of $79.03 and a 52 week high of $106.03.

Ingersoll Rand (NYSE:IR) 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). The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. Equities research analysts anticipate that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Wednesday, March 5th were given a dividend of $0.02 per share. The ex-dividend date was Wednesday, March 5th. This represents a $0.08 annualized dividend and a yield of 0.10%. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.88%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on IR. Barclays reduced their price target on shares of Ingersoll Rand from $96.00 to $93.00 and set an “overweight” rating for the company in a research report on Wednesday. Citigroup decreased their price target on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Stifel Nicolaus dropped 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. Robert W. Baird boosted their target price on Ingersoll Rand from $105.00 to $111.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Finally, The Goldman Sachs Group raised their price target on shares of Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Ingersoll Rand currently has a consensus 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.