Ingersoll Rand Inc. (NYSE:IR) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 5.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 299,834 shares of the industrial products company’s stock after selling 17,229 shares during the period. Allspring Global Investments Holdings LLC owned about 0.07% of Ingersoll Rand worth $27,141,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. JPMorgan Chase & Co. increased its position 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 worth $1,789,376,000 after acquiring an additional 1,462,538 shares in the last quarter. FMR LLC grew its position in Ingersoll Rand by 10.5% during the 3rd quarter. FMR LLC now owns 16,152,094 shares of the industrial products company’s stock worth $1,585,489,000 after purchasing an additional 1,538,056 shares in the last quarter. State Street Corp lifted its holdings in shares of Ingersoll Rand by 0.7% in the third quarter. State Street Corp now owns 15,776,908 shares of the industrial products company’s stock valued at $1,548,661,000 after purchasing an additional 112,824 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Ingersoll Rand by 2.5% in the third quarter. Franklin Resources Inc. now owns 11,597,321 shares of the industrial products company’s stock worth $1,207,554,000 after buying an additional 278,710 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Ingersoll Rand by 0.6% during the third quarter. Geode Capital Management LLC now owns 9,436,467 shares of the industrial products company’s stock valued at $923,087,000 after buying an additional 54,952 shares in the last quarter. 95.27% of the stock is owned by institutional investors.

Ingersoll Rand Trading Down 7.3 %

NYSE:IR opened at $85.79 on Friday. The company’s 50 day moving average is $92.75 and its 200-day moving average is $95.18. The company has a quick ratio of 1.71, a current ratio of 2.36 and a debt-to-equity ratio of 0.46. Ingersoll Rand Inc. has a 12 month low of $83.72 and a 12 month high of $106.03. The firm has a market cap of $34.58 billion, a price-to-earnings ratio of 41.85, a P/E/G ratio of 3.66 and a beta of 1.43.

Ingersoll Rand (NYSE:IR) last released its earnings results on Thursday, February 13th. The industrial products company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). The firm 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 13.01% and a net margin of 11.72%. Equities analysts anticipate that Ingersoll Rand Inc. will post 3.2 EPS for the current year.

Ingersoll Rand Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Wednesday, March 5th will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.09%. The ex-dividend date is Wednesday, March 5th. Ingersoll Rand’s dividend payout ratio is currently 3.90%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. The Goldman Sachs Group raised their price objective 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 dropped their price objective on shares of Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Barclays decreased their target price on shares of Ingersoll Rand from $120.00 to $115.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Stifel Nicolaus dropped their price target on shares of Ingersoll Rand from $107.00 to $100.00 and set a “hold” rating on the stock in a research note on Friday, January 24th. Finally, UBS Group initiated coverage on Ingersoll Rand in a research report on Wednesday, November 13th. They set a “buy” rating and a $124.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $105.92.

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.