Allstate Corp Takes Position in Ingersoll Rand Inc. (NYSE:IR)

Allstate Corp acquired a new stake in shares of Ingersoll Rand Inc. (NYSE:IR) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 11,995 shares of the industrial products company’s stock, valued at approximately $1,085,000.

Several other large investors also recently bought and sold shares of IR. Savant Capital LLC lifted its holdings in shares of Ingersoll Rand by 2.3% during the 4th 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 bought a new position in Ingersoll Rand in the third quarter valued at about $864,000. Nordea Investment Management AB boosted its position in 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 during the last quarter. abrdn plc grew its stake in shares of Ingersoll Rand by 70.5% during the 4th quarter. abrdn plc now owns 262,863 shares of the industrial products company’s stock valued at $23,851,000 after purchasing an additional 108,700 shares during the period. Finally, AdvisorNet Financial Inc increased its position in shares of Ingersoll Rand by 441.4% during the 4th quarter. AdvisorNet Financial Inc now owns 18,652 shares of the industrial products company’s stock valued at $1,687,000 after purchasing an additional 15,207 shares during the last quarter. 95.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

IR has been the topic of a number of research reports. Stifel Nicolaus dropped their price objective on shares of Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating on the stock in a report on Tuesday, February 18th. The Goldman Sachs Group lifted their price target on shares of Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Evercore ISI reduced their price objective on Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. Robert W. Baird lifted their target price on 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 reduced their price target on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $105.09.

Ingersoll Rand Trading Down 2.4 %

Ingersoll Rand stock opened at $79.38 on Monday. Ingersoll Rand Inc. has a 1 year low of $79.03 and a 1 year high of $106.03. The firm’s 50 day moving average price is $86.69 and its 200-day moving average price is $93.73. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.29 and a quick ratio of 1.71. The stock 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 announced its quarterly earnings results 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). 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 the consensus estimate of $1.91 billion. On average, equities analysts predict that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Wednesday, March 5th were issued a dividend of $0.02 per share. 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 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.