Capital World Investors Raises Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

Capital World Investors lifted its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 1.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,088,857 shares of the industrial products company’s stock after acquiring an additional 197,711 shares during the period. Capital World Investors owned 4.98% of Ingersoll Rand worth $1,817,238,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Ingersoll Rand by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 45,684,016 shares of the industrial products company’s stock worth $4,132,576,000 after purchasing an additional 446,591 shares during the last quarter. Capital International Investors grew its holdings in Ingersoll Rand by 4.6% in the fourth quarter. Capital International Investors now owns 36,673,865 shares of the industrial products company’s stock valued at $3,317,537,000 after purchasing an additional 1,606,363 shares during the last quarter. JPMorgan Chase & Co. raised 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 worth $1,707,729,000 after acquiring an additional 649,102 shares during the last quarter. FMR LLC raised its position in shares of Ingersoll Rand by 8.2% during the 4th quarter. FMR LLC now owns 17,472,317 shares of the industrial products company’s stock worth $1,580,546,000 after purchasing an additional 1,320,223 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of 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 valued at $1,110,593,000 after acquiring an additional 679,856 shares in the last quarter. 95.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on IR shares. Evercore ISI lowered their target price on shares of 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. Wells Fargo & Company decreased 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. Robert W. Baird increased their target price on Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Barclays reduced their target price on shares of Ingersoll Rand from $93.00 to $85.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Finally, Citigroup lowered their price target on shares of Ingersoll Rand from $109.00 to $88.00 and set a “buy” rating for the company in a report on Monday, April 14th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $100.36.

Ingersoll Rand Stock Performance

Ingersoll Rand stock opened at $72.05 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.29 and a quick ratio of 1.71. Ingersoll Rand Inc. has a 12 month low of $65.61 and a 12 month high of $106.03. The company has a fifty day moving average price of $79.98 and a two-hundred day moving average price of $91.13. The company has a market cap of $29.04 billion, a PE ratio of 34.98, a P/E/G ratio of 3.50 and a beta of 1.40.

Ingersoll Rand (NYSE:IR) last issued 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). The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. Research analysts expect that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.02 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.08 annualized dividend and a dividend yield of 0.11%. Ingersoll Rand’s dividend 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.