DnB Asset Management AS Sells 975 Shares of Ingersoll Rand Inc. (NYSE:IR)

DnB Asset Management AS trimmed its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 0.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 103,806 shares of the industrial products company’s stock after selling 975 shares during the quarter. DnB Asset Management AS’s holdings in Ingersoll Rand were worth $9,390,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Chicago Partners Investment Group LLC increased its holdings in Ingersoll Rand by 4.7% in the fourth quarter. Chicago Partners Investment Group LLC now owns 2,438 shares of the industrial products company’s stock valued at $218,000 after purchasing an additional 109 shares during the period. UMB Bank n.a. increased its stake in shares of Ingersoll Rand by 27.0% in the fourth 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. RDA Financial Network raised its position in shares of Ingersoll Rand by 3.1% during the fourth quarter. RDA Financial Network now owns 4,324 shares of the industrial products company’s stock worth $391,000 after acquiring an additional 128 shares during the last quarter. FSM Wealth Advisors LLC boosted its holdings in Ingersoll Rand by 5.8% in the fourth quarter. FSM Wealth Advisors LLC now owns 2,442 shares of the industrial products company’s stock valued at $222,000 after acquiring an additional 134 shares during the last quarter. Finally, Park Avenue Securities LLC increased its position in Ingersoll Rand by 3.3% during the 4th quarter. Park Avenue Securities LLC now owns 4,288 shares of the industrial products company’s stock valued at $388,000 after purchasing an additional 136 shares during the period. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on IR shares. Barclays dropped their price target on shares of Ingersoll Rand from $96.00 to $93.00 and set an “overweight” rating on the stock in a research report on Wednesday. Citigroup cut 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 report on Monday, January 13th. Robert W. Baird lifted their price objective on Ingersoll Rand from $105.00 to $111.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. The Goldman Sachs Group upped their target price on Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Finally, Evercore ISI lowered their target price on Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $105.09.

Ingersoll Rand Stock Performance

NYSE IR opened at $79.38 on Friday. The company has a current ratio of 2.29, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The company has a fifty day simple moving average of $86.69 and a 200 day simple moving average of $93.70. Ingersoll Rand Inc. has a 12-month low of $79.03 and a 12-month high of $106.03. The company has a market cap of $32.00 billion, a P/E ratio of 38.53, a PEG ratio of 3.50 and a beta of 1.48.

Ingersoll Rand (NYSE:IR) last posted its earnings results on Thursday, February 13th. The industrial products company reported $0.81 EPS 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 for the quarter, compared to the consensus estimate of $1.91 billion. Sell-side analysts predict 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. 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 dividend yield of 0.10%. Ingersoll Rand’s payout ratio is 3.88%.

Ingersoll Rand Company 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.