Ingersoll Rand Inc. (NYSE:IR) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. lessened its holdings in shares of Ingersoll Rand Inc. (NYSE:IR – Get Rating) by 1.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,948,066 shares of the industrial products company’s stock after selling 25,866 shares during the quarter. Franklin Resources Inc. owned approximately 0.48% of Ingersoll Rand worth $101,786,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IR. O Shaughnessy Asset Management LLC purchased a new position in shares of Ingersoll Rand during the 4th quarter worth $280,000. CoreCap Advisors LLC purchased a new position in Ingersoll Rand during the fourth quarter worth about $41,000. Advisor Group Holdings Inc. raised its stake in Ingersoll Rand by 12.9% during the fourth quarter. Advisor Group Holdings Inc. now owns 32,679 shares of the industrial products company’s stock worth $1,708,000 after purchasing an additional 3,740 shares during the period. Aigen Investment Management LP acquired a new position in Ingersoll Rand in the 4th quarter valued at about $370,000. Finally, SVB Wealth LLC purchased a new stake in shares of Ingersoll Rand in the 4th quarter valued at approximately $239,000. 99.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on IR shares. Robert W. Baird raised their target price on Ingersoll Rand from $62.00 to $66.00 in a research note on Friday, May 5th. Morgan Stanley upped their target price on shares of Ingersoll Rand from $57.00 to $62.00 and gave the company an “overweight” rating in a research report on Wednesday, February 22nd. Evercore ISI upgraded shares of Ingersoll Rand from an “in-line” rating to an “outperform” rating and set a $71.00 price target for the company in a research report on Tuesday, May 9th. Stifel Nicolaus upped their price objective on shares of Ingersoll Rand from $60.00 to $61.00 and gave the stock a “hold” rating in a report on Monday, April 17th. Finally, Barclays lifted their target price on shares of Ingersoll Rand from $64.00 to $65.00 in a report on Friday, May 5th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $60.36.

Ingersoll Rand Stock Up 1.2 %

IR stock opened at $57.58 on Friday. Ingersoll Rand Inc. has a fifty-two week low of $39.28 and a fifty-two week high of $61.06. The company’s 50 day moving average price is $56.63 and its 200 day moving average price is $55.66. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.50 and a current ratio of 2.16. The firm has a market capitalization of $23.29 billion, a price-to-earnings ratio of 35.54 and a beta of 1.42.

Ingersoll Rand (NYSE:IR – Get Rating) last released its quarterly earnings data on Tuesday, February 21st. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.13. Ingersoll Rand had a net margin of 10.66% and a return on equity of 10.69%. The business had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same period in the previous year, the company earned $0.64 EPS. The company’s revenue for the quarter was up 14.4% on a year-over-year basis. On average, equities research analysts anticipate that Ingersoll Rand Inc. will post 2.57 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 22nd. Stockholders of record on Wednesday, May 24th will be issued a $0.02 dividend. The ex-dividend date is Tuesday, May 23rd. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.14%. Ingersoll Rand’s payout ratio is currently 4.94%.

Insider Activity

In other news, insider Vicente Reynal sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $60.00, for a total transaction of $1,500,000.00. Following the completion of the sale, the insider now owns 102,856 shares in the company, valued at approximately $6,171,360. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.75% of the company’s stock.

Ingersoll Rand Profile

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Ingersoll Rand, Inc provides a broad range of mission critical air, fluid, energy, specialty vehicle and medical technologies, providing services and solutions to increase industrial productivity and efficiency. It operates through the following segments: Industrial Technologies and Services, Precision and Science Technologies, High Pressure Solutions, and Specialty Vehicle Technologies.