Artisan Partners Limited Partnership Reduces Holdings in Ingersoll Rand Inc. (NYSE:IR)

Artisan Partners Limited Partnership decreased its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 75.0% during the fourth quarter, HoldingsChannel reports. The firm owned 1,592,362 shares of the industrial products company’s stock after selling 4,776,310 shares during the quarter. Artisan Partners Limited Partnership’s holdings in Ingersoll Rand were worth $144,045,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. FMR LLC raised its position in shares of Ingersoll Rand by 10.5% in the 3rd quarter. FMR LLC now owns 16,152,094 shares of the industrial products company’s stock worth $1,585,489,000 after acquiring an additional 1,538,056 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Ingersoll Rand by 8.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 18,229,178 shares of the industrial products company’s stock worth $1,789,376,000 after buying an additional 1,462,538 shares during the last quarter. Raymond James Financial Inc. bought a new position in Ingersoll Rand during the 4th quarter valued at approximately $45,004,000. LPL Financial LLC raised its stake in Ingersoll Rand by 204.0% during the fourth quarter. LPL Financial LLC now owns 706,886 shares of the industrial products company’s stock valued at $63,945,000 after buying an additional 474,331 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Ingersoll Rand by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 45,684,016 shares of the industrial products company’s stock worth $4,132,576,000 after acquiring an additional 446,591 shares in the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Trading Down 1.2 %

IR stock opened at $81.37 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.29 and a quick ratio of 1.71. Ingersoll Rand Inc. has a 1-year low of $79.79 and a 1-year high of $106.03. The business has a 50 day simple moving average of $87.12 and a two-hundred day simple moving average of $93.80. The company has a market capitalization of $32.80 billion, a price-to-earnings ratio of 39.50, 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 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 firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. Research analysts anticipate that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Wednesday, March 5th will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.10%. The ex-dividend date of this dividend is Wednesday, March 5th. Ingersoll Rand’s dividend payout ratio is presently 3.88%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on IR shares. Stifel Nicolaus reduced their price objective on shares of Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating for the company in a research note on Tuesday, February 18th. Wells Fargo & Company reduced their price target on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Evercore ISI lowered their price objective on Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 19th. Robert W. Baird lifted their target price on Ingersoll Rand from $105.00 to $111.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Finally, Citigroup decreased their price target on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Ingersoll Rand has an average rating of “Moderate Buy” and a consensus target price of $105.09.

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.