State of Tennessee Department of Treasury Sells 21,426 Shares of Ingersoll Rand Inc. (NYSE:IR)

State of Tennessee Department of Treasury trimmed its stake in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 12.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 155,801 shares of the industrial products company's stock after selling 21,426 shares during the quarter. State of Tennessee Department of Treasury's holdings in Ingersoll Rand were worth $14,094,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of IR. TD Waterhouse Canada Inc. lifted its position in Ingersoll Rand by 3.1% in the 4th quarter. TD Waterhouse Canada Inc. now owns 33,297 shares of the industrial products company's stock valued at $3,012,000 after acquiring an additional 1,011 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Ingersoll Rand by 358.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 40,072 shares of the industrial products company's stock valued at $3,625,000 after buying an additional 31,331 shares during the last quarter. MML Investors Services LLC increased its holdings in Ingersoll Rand by 6.6% in the 4th quarter. MML Investors Services LLC now owns 52,436 shares of the industrial products company's stock worth $4,743,000 after buying an additional 3,248 shares in the last quarter. MetLife Investment Management LLC raised its position in Ingersoll Rand by 1.7% in the 4th quarter. MetLife Investment Management LLC now owns 106,675 shares of the industrial products company's stock worth $9,650,000 after buying an additional 1,761 shares during the last quarter. Finally, Norinchukin Bank The lifted its stake in Ingersoll Rand by 10.1% during the 4th quarter. Norinchukin Bank The now owns 18,464 shares of the industrial products company's stock valued at $1,670,000 after acquiring an additional 1,695 shares during the period. 95.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Ingersoll Rand Stock Performance

Shares of NYSE:IR traded down $0.45 during mid-day trading on Monday, reaching $74.53. 1,203,587 shares of the company traded hands, compared to its average volume of 2,552,655. The company's 50 day moving average price is $78.46 and its 200-day moving average price is $90.09. The firm has a market cap of $30.04 billion, a PE ratio of 36.12, a PEG ratio of 3.50 and a beta of 1.40. Ingersoll Rand Inc. has a 52 week low of $65.61 and a 52 week high of $106.03. 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 (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 analysts' consensus estimates of $0.85 by ($0.04). The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. On average, equities analysts expect that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Announces Dividend

The firm 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. This represents a $0.08 dividend on an annualized basis 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 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.