Securian Asset Management Inc. Reduces Stock Position in Ingersoll Rand Inc. (NYSE:IR)

Securian Asset Management Inc. reduced its holdings in Ingersoll Rand Inc. (NYSE:IR) by 2.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 21,659 shares of the industrial products company’s stock after selling 656 shares during the period. Securian Asset Management Inc.’s holdings in Ingersoll Rand were worth $1,959,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new position in shares of Ingersoll Rand in the 3rd quarter worth $34,000. OFI Invest Asset Management purchased a new position in shares of Ingersoll Rand in the 4th quarter worth $38,000. UMB Bank n.a. grew its stake in shares of Ingersoll Rand by 27.0% in the 4th quarter. UMB Bank n.a. now owns 598 shares of the industrial products company’s stock worth $54,000 after buying an additional 127 shares in the last quarter. Versant Capital Management Inc grew its stake in shares of Ingersoll Rand by 654.4% in the 4th quarter. Versant Capital Management Inc now owns 679 shares of the industrial products company’s stock worth $61,000 after buying an additional 589 shares in the last quarter. Finally, Venturi Wealth Management LLC bought a new stake in shares of Ingersoll Rand in the 4th quarter worth about $99,000. 95.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports 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 report on Wednesday, February 19th. Robert W. Baird raised their target price 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. The Goldman Sachs Group raised 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 lowered their target price on shares of Ingersoll Rand from $102.00 to $96.00 and set an “overweight” rating for the company in a report on Monday. Finally, Citigroup lowered their target price on shares of Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a report on Monday, January 13th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $105.36.

Ingersoll Rand Trading Down 1.9 %

NYSE:IR opened at $79.95 on Friday. The firm has a 50-day simple moving average of $88.50 and a 200-day simple moving average of $94.24. Ingersoll Rand Inc. has a one year low of $79.79 and a one year high of $106.03. The firm has a market cap of $32.23 billion, a P/E ratio of 38.81, a P/E/G ratio of 3.50 and a beta of 1.48. 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 results on Thursday, February 13th. The industrial products company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.04). Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Equities analysts anticipate that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Wednesday, March 5th will be given a $0.02 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.08 annualized dividend and a dividend yield of 0.10%. Ingersoll Rand’s payout ratio is presently 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.