State of Michigan Retirement System Has $9.90 Million Holdings in Ingersoll Rand Inc. (NYSE:IR)

State of Michigan Retirement System trimmed its stake in Ingersoll Rand Inc. (NYSE:IR) by 0.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 109,423 shares of the industrial products company’s stock after selling 500 shares during the period. State of Michigan Retirement System’s holdings in Ingersoll Rand were worth $9,898,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Schechter Investment Advisors LLC increased its stake in Ingersoll Rand by 10.1% in the fourth quarter. Schechter Investment Advisors LLC now owns 2,625 shares of the industrial products company’s stock valued at $237,000 after acquiring an additional 241 shares during the period. Fidelis Capital Partners LLC acquired a new stake in Ingersoll Rand during the fourth quarter valued at approximately $214,000. Jones Financial Companies Lllp grew its stake in shares of Ingersoll Rand by 141.5% in the 4th quarter. Jones Financial Companies Lllp now owns 4,871 shares of the industrial products company’s stock valued at $441,000 after purchasing an additional 2,854 shares during the period. Smartleaf Asset Management LLC raised its stake in Ingersoll Rand by 33.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,987 shares of the industrial products company’s stock worth $180,000 after acquiring an additional 497 shares in the last quarter. Finally, Metis Global Partners LLC lifted its holdings in shares of Ingersoll Rand by 2.6% during the fourth quarter. Metis Global Partners LLC now owns 18,341 shares of the industrial products company’s stock valued at $1,659,000 after acquiring an additional 472 shares during the period. Institutional investors own 95.27% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. The Goldman Sachs Group upped their target price on shares of Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Barclays cut their price target on Ingersoll Rand from $115.00 to $102.00 and set an “overweight” rating for the company in a report on Tuesday, February 18th. Robert W. Baird increased 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. Wells Fargo & Company dropped their target price 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. Finally, Stifel Nicolaus decreased their price target on shares of Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating on the stock in a research note on Tuesday, February 18th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $104.75.

Ingersoll Rand Price Performance

IR opened at $84.52 on Thursday. The company has a fifty day moving average price of $89.46 and a two-hundred day moving average price of $94.60. The firm has a market capitalization of $34.07 billion, a PE ratio of 41.03, a P/E/G ratio of 3.50 and a beta of 1.43. Ingersoll Rand Inc. has a 52 week low of $79.96 and a 52 week high of $106.03. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.29.

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

Ingersoll Rand Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Wednesday, March 5th will be given a $0.02 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. Ingersoll Rand’s dividend payout ratio is 3.88%.

Ingersoll Rand Company 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.