Ingersoll Rand Inc. (NYSE:IR) Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS lessened its position in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 10.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 240,364 shares of the industrial products company's stock after selling 28,000 shares during the quarter. Kornitzer Capital Management Inc. KS owned approximately 0.06% of Ingersoll Rand worth $18,590,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. OFI Invest Asset Management purchased a new stake in shares of Ingersoll Rand in the 3rd quarter valued at $25,000. ANTIPODES PARTNERS Ltd acquired a new position in Ingersoll Rand during the 4th quarter worth $27,000. Quintet Private Bank Europe S.A. acquired a new position in Ingersoll Rand during the 3rd quarter worth $28,000. Lazard Asset Management LLC grew its stake in Ingersoll Rand by 1,566.7% during the 2nd quarter. Lazard Asset Management LLC now owns 450 shares of the industrial products company's stock worth $29,000 after purchasing an additional 423 shares in the last quarter. Finally, Clearstead Advisors LLC grew its stake in Ingersoll Rand by 348.2% during the 3rd quarter. Clearstead Advisors LLC now owns 493 shares of the industrial products company's stock worth $31,000 after purchasing an additional 383 shares in the last quarter. Hedge funds and other institutional investors own 95.27% of the company's stock.

Ingersoll Rand Stock Performance

Shares of NYSE IR traded down $0.57 during trading hours on Friday, reaching $88.40. The stock had a trading volume of 2,490,032 shares, compared to its average volume of 1,933,515. The firm has a market cap of $35.66 billion, a price-to-earnings ratio of 46.53, a PEG ratio of 3.08 and a beta of 1.44. The company has a current ratio of 2.22, a quick ratio of 1.67 and a debt-to-equity ratio of 0.27. Ingersoll Rand Inc. has a fifty-two week low of $53.24 and a fifty-two week high of $96.17. The firm has a 50-day moving average of $91.25 and a 200-day moving average of $78.90.

Ingersoll Rand (NYSE:IR - Get Free Report) last announced its earnings results on Thursday, February 15th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.74 by $0.09. The firm had revenue of $1.82 billion during the quarter, compared to analysts' expectations of $1.76 billion. Ingersoll Rand had a return on equity of 12.24% and a net margin of 11.32%. Equities research analysts predict that Ingersoll Rand Inc. will post 3.1 earnings per share for the current year.

Ingersoll Rand Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 7th were given a $0.02 dividend. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. Ingersoll Rand's dividend payout ratio (DPR) is presently 4.21%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on IR. Cfra boosted their target price on Ingersoll Rand from $68.00 to $85.00 and gave the stock a "hold" rating in a research note on Friday, February 16th. UBS Group boosted their target price on Ingersoll Rand from $78.00 to $93.00 and gave the stock a "buy" rating in a research note on Monday, January 29th. Barclays boosted their target price on Ingersoll Rand from $101.00 to $105.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 2nd. BNP Paribas assumed coverage on Ingersoll Rand in a research note on Tuesday, March 12th. They set a "neutral" rating and a $92.00 target price for the company. Finally, The Goldman Sachs Group upped their price objective on Ingersoll Rand from $87.00 to $97.00 and gave the stock a "buy" rating in a research report on Wednesday, February 21st. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Ingersoll Rand has an average rating of "Moderate Buy" and a consensus price target of $92.73.

Insider Activity at Ingersoll Rand

In other Ingersoll Rand news, CAO Michael J. Scheske sold 7,590 shares of the company's stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $88.00, for a total transaction of $667,920.00. Following the completion of the sale, the chief accounting officer now directly owns 9,715 shares of the company's stock, valued at approximately $854,920. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Ingersoll Rand news, CAO Michael J. Scheske sold 7,590 shares of the company's stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $88.00, for a total transaction of $667,920.00. Following the completion of the sale, the chief accounting officer now directly owns 9,715 shares of the company's stock, valued at approximately $854,920. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Vicente Reynal sold 240,000 shares of the company's stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $90.16, for a total value of $21,638,400.00. Following the sale, the insider now directly owns 91,957 shares of the company's stock, valued at $8,290,843.12. The disclosure for this sale can be found here. Insiders sold a total of 293,011 shares of company stock valued at $26,374,789 in the last three months. 0.83% of the stock is currently owned by company insiders.

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.