Cartenna Capital LP Cuts Stock Position in Ingersoll Rand Inc. (NYSE:IR)

Cartenna Capital LP lessened its stake in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 50.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 295,136 shares of the industrial products company's stock after selling 304,864 shares during the period. Ingersoll Rand makes up about 1.3% of Cartenna Capital LP's holdings, making the stock its 22nd biggest holding. Cartenna Capital LP owned 0.07% of Ingersoll Rand worth $26,698,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Savant Capital LLC boosted its position in Ingersoll Rand by 2.3% during the 4th quarter. Savant Capital LLC now owns 6,938 shares of the industrial products company's stock valued at $628,000 after buying an additional 158 shares during the period. Virtu Financial LLC purchased a new stake in Ingersoll Rand during the 3rd quarter valued at $864,000. Nordea Investment Management AB lifted its position in shares of Ingersoll Rand by 19.1% in the 4th quarter. Nordea Investment Management AB now owns 1,691,399 shares of the industrial products company's stock worth $153,867,000 after purchasing an additional 271,381 shares during the period. abrdn plc increased its position in shares of Ingersoll Rand by 70.5% during the fourth quarter. abrdn plc now owns 262,863 shares of the industrial products company's stock valued at $23,851,000 after buying an additional 108,700 shares during the period. Finally, AdvisorNet Financial Inc lifted its holdings in Ingersoll Rand by 441.4% in the fourth quarter. AdvisorNet Financial Inc now owns 18,652 shares of the industrial products company's stock worth $1,687,000 after buying an additional 15,207 shares during the period. Hedge funds and other institutional investors own 95.27% of the company's stock.

Ingersoll Rand Stock Performance

IR traded down $0.15 during mid-day trading on Tuesday, reaching $74.65. 2,071,022 shares of the company traded hands, compared to its average volume of 2,838,560. The stock has a market capitalization of $30.09 billion, a P/E ratio of 36.24, a P/E/G ratio of 3.50 and a beta of 1.40. 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 company's fifty day moving average price is $78.24 and its 200-day moving average price is $89.91. Ingersoll Rand Inc. has a 52-week low of $65.61 and a 52-week high of $106.03.

Ingersoll Rand (NYSE:IR - Get Free Report) last posted 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). The company had revenue of $1.90 billion during the quarter, compared to analysts' expectations of $1.91 billion. Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. On average, sell-side analysts expect that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 15th will be paid a $0.02 dividend. The ex-dividend date is Thursday, May 15th. This represents a $0.08 annualized dividend and a dividend yield of 0.11%. Ingersoll Rand's dividend payout ratio (DPR) is 3.88%.

Analysts Set New Price Targets

Several research firms have weighed in on IR. Robert W. Baird lifted their price objective on Ingersoll Rand from $105.00 to $111.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. Stifel Nicolaus cut their price objective on Ingersoll Rand from $94.00 to $77.00 and set a "hold" rating on the stock in a research report on Monday, April 14th. Citigroup cut their price objective on Ingersoll Rand from $109.00 to $88.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Evercore ISI dropped their price target on Ingersoll Rand from $100.00 to $91.00 and set an "in-line" rating on the stock in a research report on Wednesday, February 19th. Finally, Barclays dropped their price target on Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Ingersoll Rand presently has a consensus rating of "Moderate Buy" and a consensus target price of $100.36.

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.