Aviva PLC Has $21.97 Million Stake in Ingersoll Rand Inc. (NYSE:IR)

Aviva PLC reduced its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 54.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 242,898 shares of the industrial products company’s stock after selling 285,826 shares during the period. Aviva PLC owned approximately 0.06% of Ingersoll Rand worth $21,973,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Savant Capital LLC increased its holdings in shares of Ingersoll Rand by 2.3% during the fourth quarter. Savant Capital LLC now owns 6,938 shares of the industrial products company’s stock worth $628,000 after purchasing an additional 158 shares during the period. Virtu Financial LLC bought a new position in Ingersoll Rand during the 3rd quarter worth $864,000. Nordea Investment Management AB raised its holdings in Ingersoll Rand by 19.1% in the 4th quarter. Nordea Investment Management AB now owns 1,691,399 shares of the industrial products company’s stock valued at $153,867,000 after acquiring an additional 271,381 shares in the last quarter. abrdn plc lifted its position in shares of Ingersoll Rand by 70.5% during the 4th quarter. abrdn plc now owns 262,863 shares of the industrial products company’s stock valued at $23,851,000 after acquiring an additional 108,700 shares during the period. Finally, AdvisorNet Financial Inc grew its holdings in shares of Ingersoll Rand by 441.4% during the 4th quarter. AdvisorNet Financial Inc now owns 18,652 shares of the industrial products company’s stock worth $1,687,000 after purchasing an additional 15,207 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors.

Ingersoll Rand Stock Performance

NYSE:IR opened at $69.51 on Monday. The stock’s 50-day moving average is $85.05 and its 200-day moving average is $93.21. Ingersoll Rand Inc. has a 1-year low of $67.19 and a 1-year high of $106.03. 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 market cap of $28.02 billion, a P/E ratio of 33.74, a price-to-earnings-growth ratio of 3.50 and a beta of 1.40.

Ingersoll Rand (NYSE:IR) last posted its earnings results on Thursday, February 13th. The industrial products company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. Equities research analysts anticipate that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Wednesday, March 5th were given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.12%. The ex-dividend date was Wednesday, March 5th. Ingersoll Rand’s dividend payout ratio is currently 3.88%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. The Goldman Sachs Group boosted their price target on Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Wells Fargo & Company cut their price target on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Citigroup decreased their price objective 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. Barclays cut their target price on Ingersoll Rand from $96.00 to $93.00 and set an “overweight” rating for the company in a research note on Wednesday, March 26th. Finally, Evercore ISI lowered their price target on Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently 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.