Mitsubishi UFJ Asset Management Co. Ltd. Acquires 37,361 Shares of Ingersoll Rand Inc. (NYSE:IR)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 6.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 634,787 shares of the industrial products company’s stock after purchasing an additional 37,361 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Ingersoll Rand were worth $58,711,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Public Sector Pension Investment Board increased its holdings in shares of Ingersoll Rand by 13.6% in the third quarter. Public Sector Pension Investment Board now owns 17,570 shares of the industrial products company’s stock valued at $1,725,000 after purchasing an additional 2,100 shares in the last quarter. PEAK6 Investments LLC increased its stake in shares of Ingersoll Rand by 5.8% in the 3rd quarter. PEAK6 Investments LLC now owns 19,038 shares of the industrial products company’s stock valued at $1,869,000 after buying an additional 1,038 shares during the period. Northwest & Ethical Investments L.P. raised its position in shares of Ingersoll Rand by 2.1% during the third quarter. Northwest & Ethical Investments L.P. now owns 35,351 shares of the industrial products company’s stock worth $3,470,000 after acquiring an additional 728 shares during the last quarter. Verition Fund Management LLC lifted its stake in shares of Ingersoll Rand by 108.2% during the third quarter. Verition Fund Management LLC now owns 7,377 shares of the industrial products company’s stock valued at $724,000 after acquiring an additional 3,834 shares during the period. Finally, Edgestream Partners L.P. boosted its holdings in Ingersoll Rand by 99.5% in the third quarter. Edgestream Partners L.P. now owns 17,031 shares of the industrial products company’s stock valued at $1,672,000 after acquiring an additional 8,496 shares during the last quarter. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Barclays dropped their price objective on Ingersoll Rand from $96.00 to $93.00 and set an “overweight” rating for the company in a report on Wednesday. Citigroup dropped their price target on shares of Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Wells Fargo & Company reduced their price objective on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Robert W. Baird upped their target price on shares of Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Finally, The Goldman Sachs Group raised their price target on Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $105.09.

Ingersoll Rand Stock Performance

IR stock opened at $79.38 on Friday. Ingersoll Rand Inc. has a 1-year low of $79.03 and a 1-year 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. The firm has a market cap of $32.00 billion, a PE ratio of 38.53, a P/E/G ratio of 3.50 and a beta of 1.48. The business’s 50-day moving average price is $86.69 and its two-hundred day moving average price is $93.66.

Ingersoll Rand (NYSE:IR) last released its earnings results on Thursday, February 13th. The industrial products company reported $0.81 earnings per share (EPS) 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 the consensus estimate of $1.91 billion. Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. As a group, research analysts forecast that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand Announces Dividend

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