DnB Asset Management AS Cuts Position in Ingersoll Rand Inc. (NYSE:IR)

DnB Asset Management AS trimmed its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 0.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 103,806 shares of the industrial products company’s stock after selling 975 shares during the period. DnB Asset Management AS’s holdings in Ingersoll Rand were worth $9,390,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Chicago Partners Investment Group LLC increased its position in shares of Ingersoll Rand by 4.7% during the 4th quarter. Chicago Partners Investment Group LLC now owns 2,438 shares of the industrial products company’s stock valued at $218,000 after purchasing an additional 109 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of Ingersoll Rand by 27.0% in the 4th quarter. UMB Bank n.a. now owns 598 shares of the industrial products company’s stock worth $54,000 after buying an additional 127 shares during the last quarter. RDA Financial Network grew its position in Ingersoll Rand by 3.1% during the fourth quarter. RDA Financial Network now owns 4,324 shares of the industrial products company’s stock valued at $391,000 after buying an additional 128 shares during the period. FSM Wealth Advisors LLC increased its holdings in Ingersoll Rand by 5.8% during the fourth quarter. FSM Wealth Advisors LLC now owns 2,442 shares of the industrial products company’s stock worth $222,000 after buying an additional 134 shares during the last quarter. Finally, Park Avenue Securities LLC raised its position in Ingersoll Rand by 3.3% in the fourth quarter. Park Avenue Securities LLC now owns 4,288 shares of the industrial products company’s stock worth $388,000 after acquiring an additional 136 shares during the period. 95.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company decreased 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 note on Tuesday, January 7th. Stifel Nicolaus lowered their target price on Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating on the stock in a research note on Tuesday, February 18th. Barclays cut their price target on Ingersoll Rand from $96.00 to $93.00 and set an “overweight” rating for the company in a research note on Wednesday. The Goldman Sachs Group boosted their price objective on Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Finally, Citigroup cut their target price on shares of Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $105.09.

Ingersoll Rand Price Performance

IR stock opened at $79.38 on Friday. The firm has a 50 day moving average of $86.69 and a 200-day moving average of $93.70. The firm has a market capitalization 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 Inc. has a 12 month low of $79.03 and a 12 month high of $106.03. The company has a current ratio of 2.29, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46.

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 firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. As a group, sell-side analysts predict that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders 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 yield of 0.10%. Ingersoll Rand’s dividend payout ratio is currently 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.