Allianz SE Buys New Shares in Ingersoll Rand Inc. (NYSE:IR)

Allianz SE purchased a new position in shares of Ingersoll Rand Inc. (NYSE:IR) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 28,545 shares of the industrial products company’s stock, valued at approximately $2,584,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Public Sector Pension Investment Board grew its holdings in shares of Ingersoll Rand by 13.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 17,570 shares of the industrial products company’s stock valued at $1,725,000 after purchasing an additional 2,100 shares during the last quarter. PEAK6 Investments LLC grew its stake in shares of Ingersoll Rand by 5.8% during the third quarter. PEAK6 Investments LLC now owns 19,038 shares of the industrial products company’s stock valued at $1,869,000 after buying an additional 1,038 shares during the last quarter. Verition Fund Management LLC increased its holdings in shares of Ingersoll Rand by 108.2% in the third quarter. Verition Fund Management LLC now owns 7,377 shares of the industrial products company’s stock worth $724,000 after buying an additional 3,834 shares during the period. Edgestream Partners L.P. lifted its stake in shares of Ingersoll Rand by 99.5% in the 3rd quarter. Edgestream Partners L.P. now owns 17,031 shares of the industrial products company’s stock valued at $1,672,000 after acquiring an additional 8,496 shares during the last quarter. Finally, Erste Asset Management GmbH purchased a new stake in Ingersoll Rand during the 3rd quarter valued at about $424,000. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Ingersoll Rand Stock Down 2.4 %

IR stock opened at $79.38 on Friday. Ingersoll Rand Inc. has a fifty-two week low of $79.03 and a fifty-two week high of $106.03. The company has a market capitalization of $32.00 billion, a price-to-earnings ratio of 38.53, a price-to-earnings-growth ratio of 3.50 and a beta of 1.48. The business’s 50 day moving average price is $86.69 and its two-hundred day moving average price is $93.70. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.29.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings data 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). The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. As a group, analysts forecast that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on IR shares. Barclays lowered their price objective on Ingersoll Rand from $96.00 to $93.00 and set an “overweight” rating for the company in a research report on Wednesday. Stifel Nicolaus lowered their price target on shares of Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating for the company in a report on Tuesday, February 18th. The Goldman Sachs Group raised 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. Robert W. Baird boosted their price objective 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. Finally, Wells Fargo & Company dropped 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. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company 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.