52,924 Shares in Ingersoll Rand Inc. (NYSE:IR) Bought by Magnetar Financial LLC

Magnetar Financial LLC bought a new stake in Ingersoll Rand Inc. (NYSE:IR) during the 4th quarter, HoldingsChannel reports. The firm bought 52,924 shares of the industrial products company’s stock, valued at approximately $4,788,000.

Other institutional investors have also modified their holdings of the company. Teacher Retirement System of Texas boosted its holdings in Ingersoll Rand by 39.8% in the 4th quarter. Teacher Retirement System of Texas now owns 3,777 shares of the industrial products company’s stock worth $342,000 after buying an additional 1,075 shares during the last quarter. Royal London Asset Management Ltd. lifted its position in shares of Ingersoll Rand by 3.0% in the fourth quarter. Royal London Asset Management Ltd. now owns 257,223 shares of the industrial products company’s stock valued at $23,268,000 after acquiring an additional 7,502 shares in the last quarter. Xponance Inc. lifted its position in shares of Ingersoll Rand by 1.7% in the fourth quarter. Xponance Inc. now owns 69,094 shares of the industrial products company’s stock valued at $6,250,000 after acquiring an additional 1,172 shares in the last quarter. Generali Asset Management SPA SGR purchased a new stake in shares of Ingersoll Rand during the fourth quarter worth approximately $1,484,000. Finally, Advisors Asset Management Inc. increased its position in shares of Ingersoll Rand by 15.9% during the fourth quarter. Advisors Asset Management Inc. now owns 29,951 shares of the industrial products company’s stock worth $2,709,000 after purchasing an additional 4,111 shares in the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.

Ingersoll Rand Price Performance

IR stock opened at $82.08 on Thursday. The business’s fifty day moving average price is $87.83 and its 200 day moving average price is $94.03. Ingersoll Rand Inc. has a 12-month low of $79.79 and a 12-month high of $106.03. The company has a market capitalization of $33.09 billion, a PE ratio of 39.85, a P/E/G ratio of 3.50 and a beta of 1.48. The company has a current ratio of 2.29, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings results on Thursday, February 13th. The industrial products company reported $0.81 earnings per share (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 business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. On average, sell-side analysts anticipate that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders 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 yield of 0.10%. Ingersoll Rand’s dividend payout ratio is presently 3.88%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on IR. Robert W. Baird raised their price target on shares of Ingersoll Rand from $105.00 to $111.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Wells Fargo & Company decreased their target price on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Evercore ISI dropped their price target on Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating for the company in a research report on Wednesday, February 19th. Stifel Nicolaus reduced their price objective on Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating on the stock in a research report on Tuesday, February 18th. Finally, Barclays dropped their target price on Ingersoll Rand from $102.00 to $96.00 and set an “overweight” rating for the company in a report on Monday, March 10th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $105.36.

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.