United Services Automobile Association Makes New $922,000 Investment in Ingersoll Rand Inc. (NYSE:IR)

United Services Automobile Association acquired a new position in shares of Ingersoll Rand Inc. (NYSE:IR) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 10,193 shares of the industrial products company’s stock, valued at approximately $922,000.

Several other hedge funds have also modified their holdings of the stock. Savant Capital LLC grew its position in Ingersoll Rand by 2.3% during the fourth quarter. Savant Capital LLC now owns 6,938 shares of the industrial products company’s stock valued at $628,000 after acquiring an additional 158 shares during the period. Virtu Financial LLC acquired a new stake in Ingersoll Rand during the 3rd quarter worth approximately $864,000. Nordea Investment Management AB raised its holdings in Ingersoll Rand by 19.1% in the fourth quarter. Nordea Investment Management AB now owns 1,691,399 shares of the industrial products company’s stock valued at $153,867,000 after buying an additional 271,381 shares during the period. Daiwa Securities Group Inc. lifted its position in Ingersoll Rand by 9.4% during the third quarter. Daiwa Securities Group Inc. now owns 90,827 shares of the industrial products company’s stock valued at $8,916,000 after buying an additional 7,784 shares in the last quarter. Finally, abrdn plc grew its stake in Ingersoll Rand by 70.5% during the fourth quarter. abrdn plc now owns 262,863 shares of the industrial products company’s stock worth $23,851,000 after buying an additional 108,700 shares during the period. 95.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

IR has been the topic of a number of research reports. Barclays cut their target price on shares of Ingersoll Rand from $102.00 to $96.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. Robert W. Baird boosted their price objective on Ingersoll Rand from $105.00 to $111.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Citigroup lowered their target price on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Stifel Nicolaus reduced their price target on Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating on the stock in a research report on Tuesday, February 18th. Finally, Wells Fargo & Company lowered their price objective on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Ingersoll Rand has a consensus rating of “Moderate Buy” and a consensus price target of $105.36.

Ingersoll Rand Stock Performance

Ingersoll Rand stock opened at $82.21 on Tuesday. 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 stock has a 50 day moving average of $87.45 and a 200-day moving average of $93.92. The stock has a market cap of $33.14 billion, a P/E ratio of 39.91, a price-to-earnings-growth ratio of 3.50 and a beta of 1.48. Ingersoll Rand Inc. has a 52 week low of $79.79 and a 52 week high of $106.03.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings data on Thursday, February 13th. The industrial products company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.04). The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. On average, analysts expect that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Wednesday, March 5th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.10%. The ex-dividend date of this dividend is Wednesday, March 5th. Ingersoll Rand’s payout ratio is currently 3.88%.

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.