Prudential Financial Inc. Decreases Position in Ingersoll Rand Inc. (NYSE:IR)

Prudential Financial Inc. reduced its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 14.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 218,018 shares of the industrial products company’s stock after selling 35,701 shares during the quarter. Prudential Financial Inc.’s holdings in Ingersoll Rand were worth $19,722,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. OFI Invest Asset Management purchased a new position in Ingersoll Rand in the 4th quarter worth approximately $38,000. Lee Danner & Bass Inc. purchased a new position in shares of Ingersoll Rand in the fourth quarter worth $42,000. Millstone Evans Group LLC bought a new stake in Ingersoll Rand during the 4th quarter valued at $50,000. UMB Bank n.a. boosted its position 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 valued at $54,000 after buying an additional 127 shares during the period. Finally, Versant Capital Management Inc grew its holdings in Ingersoll Rand by 654.4% in the 4th quarter. Versant Capital Management Inc now owns 679 shares of the industrial products company’s stock worth $61,000 after acquiring an additional 589 shares during the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Stock Down 1.2 %

Shares of Ingersoll Rand stock opened at $81.37 on Thursday. Ingersoll Rand Inc. has a 1 year low of $79.79 and a 1 year high of $106.03. The firm has a market cap of $32.80 billion, a price-to-earnings ratio of 39.50, a PEG ratio of 3.50 and a beta of 1.48. The company has a 50-day moving average of $87.12 and a 200 day moving average of $93.80. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.29 and a quick ratio of 1.71.

Ingersoll Rand (NYSE:IR) last announced 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 net margin of 11.59% and a return on equity of 12.78%. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. As a group, sell-side analysts anticipate that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

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 $0.02 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. Ingersoll Rand’s dividend payout ratio is currently 3.88%.

Analyst Ratings Changes

A number of analysts have recently weighed in on IR shares. 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 report on Thursday, December 12th. Stifel Nicolaus cut their price objective on Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating on the stock in a research report on Tuesday, February 18th. Wells Fargo & Company decreased 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 lifted their price target on shares of Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Finally, Evercore ISI decreased 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 report on Wednesday, February 19th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $105.09.

Ingersoll Rand Company 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.