Korea Investment CORP Sells 98,604 Shares of Ingersoll Rand Inc. (NYSE:IR)

Korea Investment CORP decreased its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 27.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 265,721 shares of the industrial products company’s stock after selling 98,604 shares during the quarter. Korea Investment CORP’s holdings in Ingersoll Rand were worth $24,037,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in IR. JPMorgan Chase & Co. lifted its position in 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 purchasing an additional 1,462,538 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Ingersoll Rand during the 4th quarter valued at about $45,004,000. LPL Financial LLC boosted its position in shares of Ingersoll Rand by 204.0% during the 4th quarter. LPL Financial LLC now owns 706,886 shares of the industrial products company’s stock valued at $63,945,000 after acquiring an additional 474,331 shares in the last quarter. Vanguard Group Inc. increased its stake 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 valued at $4,132,576,000 after acquiring an additional 446,591 shares during the period. Finally, Amundi lifted its stake in Ingersoll Rand by 17.0% during the fourth quarter. Amundi now owns 2,162,728 shares of the industrial products company’s stock worth $192,980,000 after purchasing an additional 313,674 shares during the period. Institutional investors and hedge funds own 95.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on IR. 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 note on Wednesday, February 19th. Citigroup lowered their price target on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Robert W. Baird lifted their price objective on Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Barclays lowered their target price on shares of Ingersoll Rand from $96.00 to $93.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Stifel Nicolaus cut their price target on shares of Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating for the company in a report on Tuesday, February 18th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $105.09.

Ingersoll Rand Price Performance

Shares of IR stock opened at $79.38 on Friday. The company has a current ratio of 2.29, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $32.00 billion, a price-to-earnings ratio of 38.53, a PEG ratio of 3.50 and a beta of 1.48. The firm’s 50 day moving average is $86.69 and its 200-day moving average is $93.70. Ingersoll Rand Inc. has a 1 year low of $79.03 and a 1 year high of $106.03.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings data on Thursday, February 13th. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate 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 12.78% and a net margin of 11.59%. Sell-side analysts forecast that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Wednesday, March 5th were issued a dividend of $0.02 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.08 annualized dividend and a yield of 0.10%. Ingersoll Rand’s dividend payout ratio is currently 3.88%.

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.