Kentucky Retirement Systems Trims Stake in Ingersoll Rand Inc. (NYSE:IR)

Kentucky Retirement Systems cut its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 1.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 27,727 shares of the industrial products company’s stock after selling 382 shares during the period. Kentucky Retirement Systems’ holdings in Ingersoll Rand were worth $2,508,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IR. FMR LLC raised its stake in Ingersoll Rand by 10.5% during the 3rd quarter. FMR LLC now owns 16,152,094 shares of the industrial products company’s stock valued at $1,585,489,000 after acquiring an additional 1,538,056 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Ingersoll Rand by 8.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 18,229,178 shares of the industrial products company’s stock valued at $1,789,376,000 after acquiring an additional 1,462,538 shares during the last quarter. Franklin Resources Inc. raised its stake in Ingersoll Rand by 2.5% during the 3rd quarter. Franklin Resources Inc. now owns 11,597,321 shares of the industrial products company’s stock valued at $1,207,554,000 after acquiring an additional 278,710 shares during the last quarter. Nordea Investment Management AB raised its stake in Ingersoll Rand by 19.1% during 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 during the last quarter. Finally, Fisher Asset Management LLC increased its position in Ingersoll Rand by 1.7% during the 3rd quarter. Fisher Asset Management LLC now owns 6,744,839 shares of the industrial products company’s stock worth $662,074,000 after purchasing an additional 114,727 shares during the period. 95.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on IR. UBS Group began coverage on Ingersoll Rand in a research report on Wednesday, November 13th. They set a “buy” rating and a $124.00 target price on the stock. The Goldman Sachs Group boosted their target price on Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Barclays dropped their target price on Ingersoll Rand from $115.00 to $102.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 18th. Citigroup dropped their target price on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Finally, Wells Fargo & Company dropped their target price on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $104.75.

Ingersoll Rand Stock Performance

IR opened at $83.66 on Friday. The stock has a market cap of $33.72 billion, a P/E ratio of 40.61, a P/E/G ratio of 3.50 and a beta of 1.43. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.29 and a quick ratio of 1.71. The stock’s 50 day simple moving average is $91.15 and its 200 day simple moving average is $94.98. Ingersoll Rand Inc. has a 1-year low of $83.26 and a 1-year high of $106.03.

Ingersoll Rand (NYSE:IR) last announced 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 for 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%. As a group, equities analysts anticipate that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Wednesday, March 5th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date is Wednesday, March 5th. Ingersoll Rand’s dividend payout ratio (DPR) is presently 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.