Pictet Asset Management Holding SA Sells 204,466 Shares of Ingersoll Rand Inc. (NYSE:IR)

Pictet Asset Management Holding SA reduced its position in Ingersoll Rand Inc. (NYSE:IR) by 9.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,026,309 shares of the industrial products company’s stock after selling 204,466 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Ingersoll Rand were worth $183,300,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Chicago Partners Investment Group LLC raised its holdings in shares of Ingersoll Rand by 4.7% during the 4th quarter. Chicago Partners Investment Group LLC now owns 2,438 shares of the industrial products company’s stock worth $218,000 after acquiring an additional 109 shares in the last quarter. UMB Bank n.a. increased its position in Ingersoll Rand by 27.0% in the fourth quarter. UMB Bank n.a. now owns 598 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 127 shares during the last quarter. RDA Financial Network lifted its position in Ingersoll Rand by 3.1% during the fourth quarter. RDA Financial Network now owns 4,324 shares of the industrial products company’s stock valued at $391,000 after purchasing an additional 128 shares during the last quarter. FSM Wealth Advisors LLC grew its stake in shares of Ingersoll Rand by 5.8% in the 4th quarter. FSM Wealth Advisors LLC now owns 2,442 shares of the industrial products company’s stock worth $222,000 after buying an additional 134 shares in the last quarter. Finally, Park Avenue Securities LLC increased its holdings in shares of Ingersoll Rand by 3.3% in the 4th quarter. Park Avenue Securities LLC now owns 4,288 shares of the industrial products company’s stock worth $388,000 after buying an additional 136 shares during the last quarter. 95.27% of the stock is owned by hedge funds and other institutional investors.

Ingersoll Rand Stock Down 2.4 %

Shares of IR opened at $79.38 on Friday. The firm has a fifty day moving average price of $86.69 and a 200-day moving average price of $93.66. 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 P/E ratio of 38.53, a P/E/G ratio of 3.50 and a beta of 1.48. Ingersoll Rand Inc. has a 12-month low of $79.03 and a 12-month high of $106.03.

Ingersoll Rand (NYSE:IR) last released 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 company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. Equities research analysts expect that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand Announces Dividend

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 payout ratio is currently 3.88%.

Analyst Ratings Changes

IR has been the subject of a number of analyst reports. Citigroup lowered their price target on shares of Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a report on Monday, January 13th. Barclays dropped their target price on Ingersoll Rand from $96.00 to $93.00 and set an “overweight” rating for the company in a report on Wednesday. Evercore ISI decreased their price target on Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Stifel Nicolaus dropped their price objective on shares of Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating for the company in a research note on Tuesday, February 18th. Finally, Robert W. Baird increased their target price on shares of Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $105.09.

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.