Moran Wealth Management LLC Sells 4,238 Shares of Ingersoll Rand Inc. (NYSE:IR)

Moran Wealth Management LLC lowered its stake in Ingersoll Rand Inc. (NYSE:IR) by 2.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 187,264 shares of the industrial products company’s stock after selling 4,238 shares during the quarter. Moran Wealth Management LLC’s holdings in Ingersoll Rand were worth $16,940,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. FMR LLC increased its stake in shares of Ingersoll Rand by 10.5% in the third quarter. FMR LLC now owns 16,152,094 shares of the industrial products company’s stock worth $1,585,489,000 after buying an additional 1,538,056 shares during the period. JPMorgan Chase & Co. increased its position in shares of Ingersoll Rand by 8.7% in the third 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. Raymond James Financial Inc. bought a new position in shares of Ingersoll Rand during the fourth quarter valued at about $45,004,000. Amundi boosted its holdings in shares of Ingersoll Rand by 17.0% during the fourth quarter. Amundi now owns 2,162,728 shares of the industrial products company’s stock worth $192,980,000 after purchasing an additional 313,674 shares during the period. Finally, Franklin Resources Inc. grew 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. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on IR shares. Barclays lowered their price target on Ingersoll Rand from $115.00 to $102.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. Robert W. Baird upped their target price on Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. The Goldman Sachs Group lifted their price target on shares of Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Citigroup decreased their price objective on shares of Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, Stifel Nicolaus cut 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. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $104.75.

Ingersoll Rand Stock Performance

Shares of IR opened at $85.27 on Monday. The company has a market cap of $34.37 billion, a price-to-earnings ratio of 41.39, a P/E/G ratio of 3.50 and a beta of 1.48. The business’s fifty day simple moving average is $89.18 and its two-hundred day simple moving average is $94.54. Ingersoll Rand Inc. has a 12 month low of $79.96 and a 12 month high of $106.03. 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 data on Thursday, February 13th. The industrial products company reported $0.81 EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $1.91 billion. Research analysts anticipate that Ingersoll Rand Inc. will post 3.32 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. 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 0.09%. Ingersoll Rand’s dividend payout ratio is presently 3.88%.

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.