New Mexico Educational Retirement Board Lowers Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

New Mexico Educational Retirement Board lowered its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 2.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,204 shares of the industrial products company’s stock after selling 500 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Ingersoll Rand were worth $1,737,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Banque Pictet & Cie SA boosted its position in Ingersoll Rand by 23.4% during the fourth quarter. Banque Pictet & Cie SA now owns 12,400 shares of the industrial products company’s stock worth $1,122,000 after purchasing an additional 2,350 shares in the last quarter. V Square Quantitative Management LLC boosted its position in Ingersoll Rand by 2.9% during the fourth quarter. V Square Quantitative Management LLC now owns 10,027 shares of the industrial products company’s stock worth $907,000 after purchasing an additional 287 shares in the last quarter. Essex Financial Services Inc. boosted its position in Ingersoll Rand by 25.8% during the fourth quarter. Essex Financial Services Inc. now owns 2,688 shares of the industrial products company’s stock worth $243,000 after purchasing an additional 552 shares in the last quarter. Regents Gate Capital LLP purchased a new position in Ingersoll Rand during the fourth quarter worth approximately $10,171,000. Finally, Opal Wealth Advisors LLC boosted its position in Ingersoll Rand by 8.9% during the fourth quarter. Opal Wealth Advisors LLC now owns 2,335 shares of the industrial products company’s stock worth $211,000 after purchasing an additional 190 shares in the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on IR shares. The Goldman Sachs Group increased their target price on Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Wells Fargo & Company reduced their target price on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Robert W. Baird reduced their target price on Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating for the company in a report on Monday, November 4th. UBS Group started coverage on Ingersoll Rand in a report on Wednesday, November 13th. They set a “buy” rating and a $124.00 target price for the company. Finally, Barclays reduced their target price on Ingersoll Rand from $120.00 to $115.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $105.92.

Ingersoll Rand Price Performance

NYSE:IR opened at $85.79 on Monday. The stock has a market cap of $34.58 billion, a PE ratio of 41.85, a P/E/G ratio of 3.66 and a beta of 1.43. Ingersoll Rand Inc. has a one year low of $83.72 and a one year high of $106.03. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.36. The stock has a 50 day moving average price of $92.75 and a 200 day moving average price of $95.16.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings data on Thursday, February 13th. The industrial products company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.04). The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Ingersoll Rand had a return on equity of 13.01% and a net margin of 11.72%. Equities research analysts expect that Ingersoll Rand Inc. will post 3.2 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

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

About Ingersoll Rand

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.