Ilmarinen Mutual Pension Insurance Co Takes $7.78 Million Position in Ingersoll Rand Inc. (NYSE:IR)

Ilmarinen Mutual Pension Insurance Co purchased a new position in Ingersoll Rand Inc. (NYSE:IR) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 86,000 shares of the industrial products company’s stock, valued at approximately $7,780,000.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Ingersoll Rand by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 45,684,016 shares of the industrial products company’s stock valued at $4,132,576,000 after buying an additional 446,591 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Ingersoll Rand by 3.6% during the fourth quarter. JPMorgan Chase & Co. now owns 18,878,280 shares of the industrial products company’s stock valued at $1,707,729,000 after acquiring an additional 649,102 shares during the last quarter. State Street Corp boosted its stake in Ingersoll Rand by 0.7% in the third quarter. State Street Corp now owns 15,776,908 shares of the industrial products company’s stock valued at $1,548,661,000 after acquiring an additional 112,824 shares in the last quarter. Franklin Resources Inc. grew its holdings in Ingersoll Rand by 5.9% in the fourth quarter. Franklin Resources Inc. now owns 12,277,177 shares of the industrial products company’s stock worth $1,110,593,000 after purchasing an additional 679,856 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Ingersoll Rand by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 9,648,574 shares of the industrial products company’s stock worth $870,503,000 after purchasing an additional 212,107 shares in the last quarter. 95.27% of the stock is owned by hedge funds and other institutional investors.

Ingersoll Rand Stock Performance

Shares of IR stock opened at $69.51 on Friday. The stock has a market cap of $28.02 billion, a PE ratio of 33.74, a price-to-earnings-growth ratio of 3.50 and a beta of 1.48. Ingersoll Rand Inc. has a 52-week low of $67.19 and a 52-week high of $106.03. The business has a 50-day simple moving average of $85.05 and a 200-day simple moving average of $93.21. The company has a quick ratio of 1.71, a current ratio of 2.29 and a debt-to-equity ratio of 0.46.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings data on Thursday, February 13th. The industrial products company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.04). The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations 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 year.

Ingersoll Rand Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Wednesday, March 5th were given a $0.02 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.12%. Ingersoll Rand’s dividend payout ratio (DPR) is currently 3.88%.

Wall Street Analyst Weigh In

IR has been the subject of a number of recent analyst reports. Citigroup lowered their price objective on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Evercore ISI cut their price objective on shares of Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. 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. The Goldman Sachs Group boosted their target price on shares of Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. 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 note on Tuesday, January 7th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Ingersoll Rand has an average rating of “Moderate Buy” and a consensus target price of $105.09.

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.