Ingersoll Rand Inc. (NYSE:IR) Shares Acquired by AIA Group Ltd

AIA Group Ltd increased its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 20.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,199 shares of the industrial products company’s stock after purchasing an additional 7,005 shares during the quarter. AIA Group Ltd’s holdings in Ingersoll Rand were worth $3,727,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Norges Bank acquired a new position 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 3rd quarter. JPMorgan Chase & Co. now owns 18,229,178 shares of the industrial products company’s stock valued at $1,789,376,000 after acquiring an additional 1,462,538 shares during the last quarter. Caisse Des Depots ET Consignations acquired a new stake in shares of Ingersoll Rand during the 4th quarter worth about $47,763,000. Raymond James Financial Inc. purchased a new stake in Ingersoll Rand during the fourth quarter worth approximately $45,004,000. Finally, LPL Financial LLC increased its stake in Ingersoll Rand by 204.0% in the fourth quarter. LPL Financial LLC now owns 706,886 shares of the industrial products company’s stock valued at $63,945,000 after purchasing an additional 474,331 shares during the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Stock Down 2.4 %

Shares of NYSE:IR opened at $79.38 on Monday. The company has a market cap of $32.00 billion, a price-to-earnings ratio of 38.53, a PEG ratio of 3.50 and a beta of 1.48. Ingersoll Rand Inc. has a fifty-two week low of $79.03 and a fifty-two week high of $106.03. The firm’s 50-day simple moving average is $86.69 and its 200-day simple moving average is $93.73. The company has a quick ratio of 1.71, a current ratio of 2.29 and a debt-to-equity ratio of 0.46.

Ingersoll Rand (NYSE:IR) last posted 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). Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. As a group, equities research analysts predict that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 5th were issued a $0.02 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. Ingersoll Rand’s dividend payout ratio is presently 3.88%.

Wall Street Analysts Forecast Growth

IR has been the subject of several recent analyst reports. Evercore ISI reduced their price objective on shares of 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. The Goldman Sachs Group lifted their target price on Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Robert W. Baird upped 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. Stifel Nicolaus decreased their price objective 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 cut their target price on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Ingersoll Rand presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.09.

Ingersoll Rand Company 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.