Prudential Financial Inc. Sells 35,701 Shares of Ingersoll Rand Inc. (NYSE:IR)

Prudential Financial Inc. lessened its stake in Ingersoll Rand Inc. (NYSE:IR) by 14.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 218,018 shares of the industrial products company’s stock after selling 35,701 shares during the quarter. Prudential Financial Inc. owned approximately 0.05% of Ingersoll Rand worth $19,722,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. DRW Securities LLC bought a new position in shares of Ingersoll Rand during the 3rd quarter worth $543,000. Dai ichi Life Insurance Company Ltd lifted its holdings in Ingersoll Rand by 4.7% during the third quarter. Dai ichi Life Insurance Company Ltd now owns 21,005 shares of the industrial products company’s stock valued at $2,062,000 after purchasing an additional 946 shares during the last quarter. FMR LLC boosted its position in Ingersoll Rand by 10.5% during the third quarter. FMR LLC now owns 16,152,094 shares of the industrial products company’s stock worth $1,585,489,000 after purchasing an additional 1,538,056 shares during the period. Brooklyn Investment Group purchased a new position in shares of Ingersoll Rand in the third quarter worth about $166,000. Finally, Avestar Capital LLC raised its position in shares of Ingersoll Rand by 11.2% in the third quarter. Avestar Capital LLC now owns 3,278 shares of the industrial products company’s stock valued at $322,000 after purchasing an additional 329 shares during the period. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on IR shares. Robert W. Baird raised their price objective on shares of Ingersoll Rand from $105.00 to $111.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Citigroup cut their price target on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a report on Monday, January 13th. The Goldman Sachs Group boosted their price objective on Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Evercore ISI cut their target price on Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. Finally, Stifel Nicolaus decreased 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. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $105.09.

Ingersoll Rand Stock Down 1.2 %

IR stock opened at $81.37 on Thursday. The company’s 50 day moving average is $87.12 and its 200 day moving average is $93.80. The stock has a market cap of $32.80 billion, a price-to-earnings ratio of 39.50, a price-to-earnings-growth ratio of 3.50 and a beta of 1.48. The company has a current ratio of 2.29, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. Ingersoll Rand Inc. has a 1-year low of $79.79 and a 1-year high of $106.03.

Ingersoll Rand (NYSE:IR) last posted 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). Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Sell-side analysts predict 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. Stockholders of record on Wednesday, March 5th will be issued a $0.02 dividend. 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 payout ratio is currently 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.