New York State Common Retirement Fund Decreases Stake in Ingersoll Rand Inc. (NYSE:IR)

New York State Common Retirement Fund lessened its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 22.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund 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’s holdings in Ingersoll Rand were worth $22,511,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Chicago Partners Investment Group LLC lifted its position in 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 buying an additional 109 shares in the last quarter. Kanawha Capital Management LLC increased its stake in shares of Ingersoll Rand by 2.4% in the 3rd quarter. Kanawha Capital Management LLC now owns 5,096 shares of the industrial products company’s stock worth $500,000 after acquiring an additional 119 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of 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 acquiring an additional 127 shares during the period. RDA Financial Network boosted its position in shares of Ingersoll Rand by 3.1% during the 4th quarter. RDA Financial Network now owns 4,324 shares of the industrial products company’s stock valued at $391,000 after acquiring an additional 128 shares during the last quarter. Finally, FSM Wealth Advisors LLC grew 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 during the period. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Price Performance

IR opened at $83.66 on Friday. The stock’s 50-day moving average price is $91.15 and its 200 day moving average price is $94.93. Ingersoll Rand Inc. has a 12-month low of $83.26 and a 12-month high of $106.03. The firm has a market cap of $33.72 billion, a price-to-earnings ratio of 40.61, a PEG ratio of 3.47 and a beta of 1.43. 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 issued its quarterly earnings results on Thursday, February 13th. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate 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. As a group, sell-side analysts expect that Ingersoll Rand Inc. will post 3.31 earnings per share for the current year.

Ingersoll Rand Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts have commented on the stock. The Goldman Sachs Group lifted 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. Wells Fargo & Company reduced their price target 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. Stifel Nicolaus lowered their price objective on Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating for the company in a research report on Tuesday. UBS Group assumed coverage on Ingersoll Rand in a research report on Wednesday, November 13th. They issued a “buy” rating and a $124.00 target price on the stock. Finally, Citigroup decreased their price target 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. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Ingersoll Rand currently has an average rating of “Moderate Buy” and a consensus price target of $104.75.

About Ingersoll Rand

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.