Maryland State Retirement & Pension System Sells 1,506 Shares of Ingersoll Rand Inc. (NYSE:IR)

Maryland State Retirement & Pension System reduced its position in Ingersoll Rand Inc. (NYSE:IR) by 6.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 21,549 shares of the industrial products company’s stock after selling 1,506 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Ingersoll Rand were worth $1,949,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. OFI Invest Asset Management purchased a new stake in Ingersoll Rand in the fourth quarter valued at approximately $38,000. UMB Bank n.a. raised its stake in Ingersoll Rand by 27.0% in the fourth quarter. UMB Bank n.a. now owns 598 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 127 shares in the last quarter. Versant Capital Management Inc raised its stake in Ingersoll Rand by 654.4% in the fourth quarter. Versant Capital Management Inc now owns 679 shares of the industrial products company’s stock valued at $61,000 after purchasing an additional 589 shares in the last quarter. Venturi Wealth Management LLC purchased a new stake in Ingersoll Rand in the fourth quarter valued at approximately $99,000. Finally, WASHINGTON TRUST Co raised its stake in Ingersoll Rand by 18.5% in the fourth quarter. WASHINGTON TRUST Co now owns 1,136 shares of the industrial products company’s stock valued at $103,000 after purchasing an additional 177 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors.

Ingersoll Rand Trading Down 0.8 %

NYSE:IR opened at $81.00 on Friday. The company has a fifty day moving average of $87.56 and a 200 day moving average of $93.87. Ingersoll Rand Inc. has a 52 week low of $79.79 and a 52 week high of $106.03. The company has a quick ratio of 1.71, a current ratio of 2.29 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $32.65 billion, a P/E ratio of 39.32, a P/E/G ratio of 3.50 and a beta of 1.48.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings results on Thursday, February 13th. The industrial products company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. On average, research analysts predict that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.02 per share. 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 payout ratio is currently 3.88%.

Analyst Ratings Changes

Several research analysts have commented on IR shares. The Goldman Sachs Group lifted their price target 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. Evercore ISI lowered 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. Robert W. Baird boosted their price objective on shares of Ingersoll Rand from $105.00 to $111.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Wells Fargo & Company lowered their price objective on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Finally, Citigroup lowered 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. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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.