Ingersoll Rand Inc. (NYSE:IR) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company cut its holdings in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 23.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 694,393 shares of the industrial products company's stock after selling 207,919 shares during the period. The Manufacturers Life Insurance Company owned 0.17% of Ingersoll Rand worth $62,815,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Murphy & Mullick Capital Management Corp purchased a new stake in Ingersoll Rand in the fourth quarter valued at about $36,000. OFI Invest Asset Management acquired a new stake in Ingersoll Rand in the 4th quarter worth approximately $38,000. Lee Danner & Bass Inc. purchased a new stake in Ingersoll Rand during the 4th quarter worth approximately $42,000. Millstone Evans Group LLC acquired a new position in Ingersoll Rand during the 4th quarter valued at approximately $50,000. Finally, UMB Bank n.a. raised its holdings in shares of Ingersoll Rand by 27.0% in the fourth quarter. UMB Bank n.a. now owns 598 shares of the industrial products company's stock worth $54,000 after buying an additional 127 shares during the last quarter. Hedge funds and other institutional investors own 95.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Stifel Nicolaus cut their target price 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. Wells Fargo & Company cut their price objective on Ingersoll Rand from $115.00 to $105.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. Robert W. Baird lifted their target price on Ingersoll Rand from $105.00 to $111.00 and gave the stock an "outperform" rating in a report on Tuesday, February 18th. Barclays reduced their price target on shares of Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Finally, Evercore ISI decreased 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 research note on Wednesday, February 19th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, Ingersoll Rand has an average rating of "Moderate Buy" and a consensus target price of $100.36.

Ingersoll Rand Stock Up 0.1 %

IR opened at $74.85 on Wednesday. The company has a fifty day moving average of $78.00 and a two-hundred day moving average of $89.80. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.29. Ingersoll Rand Inc. has a fifty-two week low of $65.61 and a fifty-two week high of $106.03. The stock has a market capitalization of $30.17 billion, a price-to-earnings ratio of 36.34, a PEG ratio of 3.50 and a beta of 1.40.

Ingersoll Rand (NYSE:IR - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The industrial products company reported $0.81 earnings per share for the quarter, missing analysts' consensus estimates 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 analyst estimates of $1.91 billion. On average, research analysts expect that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Thursday, May 15th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.11%. The ex-dividend date is Thursday, May 15th. Ingersoll Rand's 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.

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