Royal London Asset Management Ltd. Increases Stock Position in Ingersoll Rand Inc. (NYSE:IR)

Royal London Asset Management Ltd. boosted its stake in Ingersoll Rand Inc. (NYSE:IR) by 3.0% during the fourth quarter, HoldingsChannel reports. The firm owned 257,223 shares of the industrial products company’s stock after buying an additional 7,502 shares during the period. Royal London Asset Management Ltd.’s holdings in Ingersoll Rand were worth $23,268,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. OFI Invest Asset Management purchased a new position in shares of Ingersoll Rand during the fourth quarter worth approximately $38,000. UMB Bank n.a. raised its stake in shares of Ingersoll Rand by 27.0% during the fourth 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 in the last quarter. Versant Capital Management Inc raised its stake in shares of Ingersoll Rand by 654.4% during the fourth quarter. Versant Capital Management Inc now owns 679 shares of the industrial products company’s stock worth $61,000 after acquiring an additional 589 shares in the last quarter. Venturi Wealth Management LLC purchased a new position in shares of Ingersoll Rand during the fourth quarter worth approximately $99,000. Finally, WASHINGTON TRUST Co raised its stake in shares of Ingersoll Rand by 18.5% during the fourth quarter. WASHINGTON TRUST Co now owns 1,136 shares of the industrial products company’s stock worth $103,000 after acquiring an additional 177 shares in the last quarter. 95.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on IR shares. Citigroup decreased their price target on shares of Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Stifel Nicolaus decreased their target price on shares of Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating on the stock in a research note on Tuesday, February 18th. Wells Fargo & Company decreased their target price on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Evercore ISI decreased 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 note on Wednesday, February 19th. Finally, Robert W. Baird lifted their target price on shares of Ingersoll Rand from $105.00 to $111.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $105.36.

Ingersoll Rand Stock Down 0.8 %

Shares of Ingersoll Rand stock opened at $81.00 on Friday. The company has a current ratio of 2.29, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The company’s fifty day simple moving average is $87.56 and its two-hundred day simple moving average is $93.87. The company has a market cap of $32.65 billion, a P/E ratio of 39.32, a PEG ratio of 3.50 and a beta of 1.48. Ingersoll Rand Inc. has a 12-month low of $79.79 and a 12-month high of $106.03.

Ingersoll Rand (NYSE:IR) last announced its earnings results 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 net margin of 11.59% and a return on equity of 12.78%. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. Research analysts anticipate that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. The ex-dividend date of this dividend is Wednesday, March 5th. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.88%.

About Ingersoll Rand

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.