Ingersoll Rand Inc. (NYSE:IR) Stake Trimmed by Korea Investment CORP

Korea Investment CORP trimmed its position in Ingersoll Rand Inc. (NYSE:IR) by 27.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 265,721 shares of the industrial products company’s stock after selling 98,604 shares during the quarter. Korea Investment CORP owned approximately 0.07% of Ingersoll Rand worth $24,037,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Savant Capital LLC raised its position in Ingersoll Rand by 2.3% during the fourth quarter. Savant Capital LLC now owns 6,938 shares of the industrial products company’s stock valued at $628,000 after buying an additional 158 shares during the period. Virtu Financial LLC acquired a new position in shares of Ingersoll Rand in the 3rd quarter valued at about $864,000. Nordea Investment Management AB lifted its position in shares of Ingersoll Rand by 19.1% in the fourth quarter. Nordea Investment Management AB now owns 1,691,399 shares of the industrial products company’s stock worth $153,867,000 after purchasing an additional 271,381 shares in the last quarter. abrdn plc lifted its position in shares of Ingersoll Rand by 70.5% in the fourth quarter. abrdn plc now owns 262,863 shares of the industrial products company’s stock worth $23,851,000 after purchasing an additional 108,700 shares in the last quarter. Finally, AdvisorNet Financial Inc boosted its holdings in shares of Ingersoll Rand by 441.4% during the fourth quarter. AdvisorNet Financial Inc now owns 18,652 shares of the industrial products company’s stock worth $1,687,000 after purchasing an additional 15,207 shares during the period. 95.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on IR. Stifel Nicolaus cut their target price on shares of Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating for the company in a research report on Tuesday, February 18th. Barclays reduced 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. Wells Fargo & Company lowered their target price on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. The Goldman Sachs Group raised their price target on Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Finally, Robert W. Baird boosted their price target on Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Ingersoll Rand has a consensus rating of “Moderate Buy” and a consensus target price of $105.09.

Ingersoll Rand Stock Down 2.4 %

IR opened at $79.38 on Friday. Ingersoll Rand Inc. has a twelve month low of $79.03 and a twelve month high of $106.03. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.29. The business has a 50 day moving average price of $86.69 and a 200 day moving average price of $93.70. The firm has a market cap of $32.00 billion, a P/E ratio of 38.53, a price-to-earnings-growth ratio of 3.50 and a beta of 1.48.

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 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 firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. Research analysts forecast that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 5th were paid a $0.02 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. Ingersoll Rand’s payout ratio 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.