State of Michigan Retirement System Has $9.90 Million Holdings in Ingersoll Rand Inc. (NYSE:IR)

State of Michigan Retirement System trimmed its holdings in Ingersoll Rand Inc. (NYSE:IR) by 0.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 109,423 shares of the industrial products company’s stock after selling 500 shares during the period. State of Michigan Retirement System’s holdings in Ingersoll Rand were worth $9,898,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of IR. Chicago Partners Investment Group LLC increased its position in shares of Ingersoll Rand by 4.7% during the fourth 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 holdings in Ingersoll Rand by 27.0% during the 4th 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 in the last quarter. RDA Financial Network raised its stake in shares of Ingersoll Rand by 3.1% in the 4th 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 period. FSM Wealth Advisors LLC lifted its holdings in shares of Ingersoll Rand by 5.8% in the fourth quarter. FSM Wealth Advisors LLC now owns 2,442 shares of the industrial products company’s stock valued at $222,000 after purchasing an additional 134 shares in the last quarter. Finally, Park Avenue Securities LLC boosted its position in shares of Ingersoll Rand by 3.3% during the fourth 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 period. 95.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on IR. Citigroup cut their target price on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Wells Fargo & Company cut 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 report on Tuesday, January 7th. The Goldman Sachs Group raised their target price on shares of Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Evercore ISI reduced their price objective on shares of Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. Finally, UBS Group initiated coverage on Ingersoll Rand in a report on Wednesday, November 13th. They issued a “buy” rating and a $124.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Ingersoll Rand currently has an average rating of “Moderate Buy” and an average price target of $104.75.

Ingersoll Rand Price Performance

Shares of NYSE IR opened at $84.52 on Thursday. The company has a quick ratio of 1.71, a current ratio of 2.29 and a debt-to-equity ratio of 0.46. The business’s 50 day moving average price is $89.46 and its two-hundred day moving average price is $94.60. The company has a market cap of $34.07 billion, a PE ratio of 41.03, a price-to-earnings-growth ratio of 3.50 and a beta of 1.43. Ingersoll Rand Inc. has a twelve month low of $79.96 and a twelve month high of $106.03.

Ingersoll Rand (NYSE:IR) last posted its earnings results on Thursday, February 13th. The industrial products company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. On average, analysts predict that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date of this dividend is Wednesday, March 5th. Ingersoll Rand’s dividend payout ratio is presently 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.