Swiss National Bank Lowers Holdings in Ingersoll Rand Inc. (NYSE:IR)

Swiss National Bank trimmed its holdings in Ingersoll Rand Inc. (NYSE:IR) by 4.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,139,880 shares of the industrial products company’s stock after selling 57,400 shares during the period. Swiss National Bank’s holdings in Ingersoll Rand were worth $103,114,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in IR. Atria Investments Inc boosted its holdings in Ingersoll Rand by 18.5% in the third quarter. Atria Investments Inc now owns 13,381 shares of the industrial products company’s stock valued at $1,313,000 after purchasing an additional 2,087 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Ingersoll Rand during the 3rd quarter worth about $201,000. Ashton Thomas Securities LLC purchased a new stake in shares of Ingersoll Rand during the 3rd quarter worth about $34,000. Versor Investments LP purchased a new stake in shares of Ingersoll Rand during the 3rd quarter worth about $301,000. Finally, Apollon Wealth Management LLC boosted its stake in shares of Ingersoll Rand by 3.7% during the 3rd quarter. Apollon Wealth Management LLC now owns 5,449 shares of the industrial products company’s stock worth $535,000 after acquiring an additional 196 shares in the last quarter. 95.27% of the stock is owned by hedge funds and other institutional investors.

Ingersoll Rand Trading Up 2.3 %

Shares of Ingersoll Rand stock opened at $81.88 on Friday. The firm has a market capitalization of $33.00 billion, a PE ratio of 39.75, a P/E/G ratio of 3.50 and a beta of 1.48. The company has a current ratio of 2.29, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. Ingersoll Rand Inc. has a twelve month low of $79.79 and a twelve month high of $106.03. The firm’s 50-day moving average price is $88.29 and its 200 day moving average price is $94.18.

Ingersoll Rand (NYSE:IR) last released 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 during the quarter, compared to analysts’ expectations of $1.91 billion. On average, sell-side analysts predict that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Wednesday, March 5th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date is Wednesday, March 5th. Ingersoll Rand’s dividend payout ratio (DPR) is 3.88%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on IR. Stifel Nicolaus lowered their target price on shares of Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating on the stock in a research note on Tuesday, February 18th. The Goldman Sachs Group increased their target price on shares of Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Citigroup lowered their target price on shares of Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Barclays lowered their target price on shares of Ingersoll Rand from $102.00 to $96.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. Finally, Robert W. Baird raised their price target 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 analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $105.36.

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.