D L Carlson Investment Group Inc. Cuts Holdings in Ingersoll Rand Inc. (NYSE:IR)

D L Carlson Investment Group Inc. lessened its stake in Ingersoll Rand Inc. (NYSE:IR) by 1.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,870 shares of the industrial products company’s stock after selling 739 shares during the period. D L Carlson Investment Group Inc.’s holdings in Ingersoll Rand were worth $3,969,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Ingersoll Rand during the fourth quarter worth $429,591,000. JPMorgan Chase & Co. increased its holdings in shares of Ingersoll Rand by 8.7% in the third quarter. JPMorgan Chase & Co. now owns 18,229,178 shares of the industrial products company’s stock valued at $1,789,376,000 after purchasing an additional 1,462,538 shares during the period. Caisse Des Depots ET Consignations purchased a new position in shares of Ingersoll Rand in the fourth quarter worth about $47,763,000. Raymond James Financial Inc. purchased a new stake in Ingersoll Rand in the fourth quarter valued at approximately $45,004,000. Finally, LPL Financial LLC increased its holdings in Ingersoll Rand by 204.0% in the 4th quarter. LPL Financial LLC now owns 706,886 shares of the industrial products company’s stock worth $63,945,000 after buying an additional 474,331 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 recently weighed in on IR. Robert W. Baird raised their target price on shares of Ingersoll Rand from $105.00 to $111.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Evercore ISI reduced their price target on Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating for the company in a research report on Wednesday, February 19th. 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 research note on Tuesday, February 18th. Wells Fargo & Company decreased their target price on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Finally, Citigroup dropped 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. Six research 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, the company currently has a consensus rating of “Moderate Buy” and an average target price of $105.09.

Ingersoll Rand Price Performance

Shares of NYSE IR opened at $79.38 on Monday. Ingersoll Rand Inc. has a 52 week low of $79.03 and a 52 week high of $106.03. The stock 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 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 50-day simple moving average of $86.69 and a 200-day simple moving average of $93.73.

Ingersoll Rand (NYSE:IR) last issued its earnings results on Thursday, February 13th. The industrial products company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.04). The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. 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 announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date was Wednesday, March 5th. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.88%.

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.