Adage Capital Partners GP L.L.C. Sells 788,336 Shares of Ingersoll Rand Inc. (NYSE:IR)

Adage Capital Partners GP L.L.C. lowered its stake in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 46.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 918,311 shares of the industrial products company's stock after selling 788,336 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 0.23% of Ingersoll Rand worth $83,070,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in IR. Murphy & Mullick Capital Management Corp acquired a new position in shares of Ingersoll Rand during the 4th quarter valued at $36,000. OFI Invest Asset Management acquired a new position in shares of Ingersoll Rand in the fourth quarter worth $38,000. Lee Danner & Bass Inc. acquired a new position in shares of Ingersoll Rand during the 4th quarter worth $42,000. Millstone Evans Group LLC bought a new position in Ingersoll Rand in the 4th quarter worth approximately $50,000. Finally, UMB Bank n.a. lifted its position in shares of Ingersoll Rand by 27.0% in 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. 95.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Robert W. Baird raised their price objective on shares of Ingersoll Rand from $105.00 to $111.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. Barclays decreased their price objective on Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Citigroup reduced their target price on Ingersoll Rand from $109.00 to $88.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Wells Fargo & Company lowered their price objective on Ingersoll Rand from $115.00 to $105.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 7th. Finally, Evercore ISI reduced their price objective on shares of Ingersoll Rand from $100.00 to $91.00 and set an "in-line" rating on the stock in a research note on Wednesday, February 19th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $100.36.

Ingersoll Rand Price Performance

IR stock traded down $0.14 during mid-day trading on Tuesday, reaching $74.66. 2,043,311 shares of the company traded hands, compared to its average volume of 2,573,816. The company has a fifty day moving average price of $78.24 and a 200-day moving average price of $89.91. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.29 and a quick ratio of 1.71. Ingersoll Rand Inc. has a 52-week low of $65.61 and a 52-week high of $106.03. The company has a market capitalization of $30.10 billion, a P/E ratio of 36.21, a P/E/G ratio of 3.50 and a beta of 1.40.

Ingersoll Rand (NYSE:IR - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The industrial products company reported $0.81 earnings per share 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 during the quarter, compared to the consensus estimate of $1.91 billion. As a group, analysts anticipate that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand Dividend Announcement

The company 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 dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.11%. The ex-dividend date is Thursday, May 15th. Ingersoll Rand's dividend payout ratio (DPR) is 3.88%.

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.