First Horizon Advisors Inc. Reduces Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

First Horizon Advisors Inc. reduced its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 71.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 695 shares of the industrial products company’s stock after selling 1,755 shares during the period. First Horizon Advisors Inc.’s holdings in Ingersoll Rand were worth $63,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Paradigm Asset Management Co. LLC purchased a new stake in Ingersoll Rand during the 4th quarter worth approximately $1,520,000. Arcadia Investment Management Corp MI grew its position in shares of Ingersoll Rand by 0.9% in the 4th quarter. Arcadia Investment Management Corp MI now owns 44,741 shares of the industrial products company’s stock worth $4,047,000 after acquiring an additional 397 shares in the last quarter. Waterfront Wealth Inc. grew its position in shares of Ingersoll Rand by 2.0% in the 4th quarter. Waterfront Wealth Inc. now owns 11,392 shares of the industrial products company’s stock worth $1,031,000 after acquiring an additional 220 shares in the last quarter. ING Groep NV acquired a new position in shares of Ingersoll Rand in the 4th quarter worth approximately $3,390,000. Finally, WealthBridge Capital Management LLC grew its position in shares of Ingersoll Rand by 20.4% in the 4th quarter. WealthBridge Capital Management LLC now owns 4,397 shares of the industrial products company’s stock worth $398,000 after acquiring an additional 744 shares in the last quarter. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IR has been the subject of a number of analyst reports. Stifel Nicolaus reduced their price objective on Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating for the company in a research report on Tuesday, February 18th. The Goldman Sachs Group boosted their price objective on Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Wells Fargo & Company reduced their price objective on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Evercore ISI reduced their price objective 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. Finally, Robert W. Baird boosted their price objective on Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $104.75.

Ingersoll Rand Stock Down 0.5 %

IR opened at $82.96 on Friday. Ingersoll Rand Inc. has a one year low of $81.71 and a one year 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. The stock’s fifty day moving average is $90.17 and its 200-day moving average is $94.77. The company has a market capitalization of $33.44 billion, a PE ratio of 40.27, a P/E/G ratio of 3.50 and a beta of 1.43.

Ingersoll Rand (NYSE:IR) last posted 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 firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. On average, equities analysts predict that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. The ex-dividend date of this dividend is Wednesday, March 5th. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.88%.

About Ingersoll Rand

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.