Allianz SE Invests $2.58 Million in Ingersoll Rand Inc. (NYSE:IR)

Allianz SE acquired a new stake in shares of Ingersoll Rand Inc. (NYSE:IR) during the 4th quarter, Holdings Channel.com reports. The fund acquired 28,545 shares of the industrial products company’s stock, valued at approximately $2,584,000.

Other large investors also recently bought and sold shares of the company. Savant Capital LLC boosted its stake in shares of Ingersoll Rand by 2.3% in the 4th quarter. Savant Capital LLC now owns 6,938 shares of the industrial products company’s stock worth $628,000 after buying an additional 158 shares during the last quarter. 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.

Analysts Set New Price Targets

IR has been the topic of a number of research reports. Robert W. Baird raised their price objective 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. Barclays cut their price objective on shares of Ingersoll Rand from $96.00 to $93.00 and set an “overweight” rating for the company in a research report on Wednesday. The Goldman Sachs Group raised their target price on Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Stifel Nicolaus cut their price target on Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating for the company in a report on Tuesday, February 18th. Finally, Wells Fargo & Company decreased their price objective 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. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has an average 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 Friday. 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 $93.70. 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 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.04). The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations 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 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%.

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.