T. Rowe Price Investment Management Inc. Reduces Stock Position in Ingersoll Rand Inc. (NYSE:IR)

T. Rowe Price Investment Management Inc. lessened its stake in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 20.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,836,845 shares of the industrial products company's stock after selling 3,643,236 shares during the quarter. Ingersoll Rand accounts for about 0.8% of T. Rowe Price Investment Management Inc.'s portfolio, making the stock its 23rd largest holding. T. Rowe Price Investment Management Inc. owned about 3.43% of Ingersoll Rand worth $1,251,681,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of IR. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Ingersoll Rand during the 4th quarter valued at about $36,000. OFI Invest Asset Management purchased a new position in Ingersoll Rand in the 4th quarter worth approximately $38,000. Lee Danner & Bass Inc. acquired a new position in Ingersoll Rand during the fourth quarter worth $42,000. Millstone Evans Group LLC acquired a new position in shares of Ingersoll Rand during the 4th quarter valued at about $50,000. Finally, UMB Bank n.a. grew its stake 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 valued at $54,000 after buying an additional 127 shares during the period. Hedge funds and other institutional investors own 95.27% of the company's stock.

Ingersoll Rand Stock Performance

NYSE IR traded down $0.54 on Monday, hitting $74.44. 1,378,222 shares of the company's stock were exchanged, compared to its average volume of 2,776,068. 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 fifty-two week low of $65.61 and a fifty-two week high of $106.03. The firm has a market cap of $30.00 billion, a price-to-earnings ratio of 36.13, a P/E/G ratio of 3.50 and a beta of 1.40. The firm's 50-day moving average price is $78.46 and its two-hundred day moving average price is $90.09.

Ingersoll Rand (NYSE:IR - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The industrial products company reported $0.81 EPS 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 company had revenue of $1.90 billion for the quarter, compared to analysts' expectations of $1.91 billion. On average, research analysts expect that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Robert W. Baird upped their target price 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. Citigroup lowered their price objective on Ingersoll Rand from $109.00 to $88.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Wells Fargo & Company cut their price target on Ingersoll Rand from $115.00 to $105.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 7th. Barclays dropped their target price on shares of Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Finally, Evercore ISI lowered their target price on shares of 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. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target 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.