Ingersoll Rand Inc. (NYSE:IR) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund decreased its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 22.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 248,848 shares of the industrial products company’s stock after selling 70,109 shares during the quarter. New York State Common Retirement Fund owned about 0.06% of Ingersoll Rand worth $22,511,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in IR. JPMorgan Chase & Co. increased its position in shares of Ingersoll Rand by 8.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 18,229,178 shares of the industrial products company’s stock valued at $1,789,376,000 after acquiring an additional 1,462,538 shares during the period. FMR LLC grew its stake in Ingersoll Rand by 10.5% during the 3rd quarter. FMR LLC now owns 16,152,094 shares of the industrial products company’s stock valued at $1,585,489,000 after purchasing an additional 1,538,056 shares during the last quarter. State Street Corp increased its holdings in shares of Ingersoll Rand by 0.7% in the third quarter. State Street Corp now owns 15,776,908 shares of the industrial products company’s stock valued at $1,548,661,000 after purchasing an additional 112,824 shares during the period. Franklin Resources Inc. raised its stake in shares of Ingersoll Rand by 2.5% in the third quarter. Franklin Resources Inc. now owns 11,597,321 shares of the industrial products company’s stock worth $1,207,554,000 after purchasing an additional 278,710 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Ingersoll Rand by 0.6% during the third quarter. Geode Capital Management LLC now owns 9,436,467 shares of the industrial products company’s stock worth $923,087,000 after purchasing an additional 54,952 shares during the period. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Stock Down 3.6 %

Shares of IR opened at $83.66 on Friday. The firm has a market cap of $33.72 billion, a P/E ratio of 40.61, a PEG ratio of 3.47 and a beta of 1.43. Ingersoll Rand Inc. has a 12 month low of $83.26 and a 12 month high of $106.03. The stock’s 50 day moving average is $91.15 and its two-hundred day moving average is $94.93. 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 (NYSE:IR) last released its quarterly earnings results on Thursday, February 13th. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. Analysts predict that Ingersoll Rand Inc. will post 3.31 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Wednesday, March 5th will be given a dividend of $0.02 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.08 annualized dividend and a dividend yield of 0.10%. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.88%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Barclays cut their price target on shares of Ingersoll Rand from $115.00 to $102.00 and set an “overweight” rating on the stock in a report on Tuesday. UBS Group started coverage on shares of Ingersoll Rand in a research note on Wednesday, November 13th. They issued a “buy” rating and a $124.00 price objective on the stock. The Goldman Sachs Group boosted 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. Stifel Nicolaus cut their price target on Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating on the stock in a research report on Tuesday. Finally, Robert W. Baird boosted their price objective on Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a report on Tuesday. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $104.75.

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.