Intech Investment Management LLC Sells 79,529 Shares of Ingersoll Rand Inc. (NYSE:IR)

Intech Investment Management LLC reduced its position in Ingersoll Rand Inc. (NYSE:IR) by 78.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,216 shares of the industrial products company’s stock after selling 79,529 shares during the quarter. Intech Investment Management LLC’s holdings in Ingersoll Rand were worth $2,010,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of IR. OFI Invest Asset Management bought a new stake in Ingersoll Rand during the fourth quarter valued at approximately $38,000. UMB Bank n.a. lifted its position in Ingersoll Rand by 27.0% during the fourth quarter. UMB Bank n.a. now owns 598 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 127 shares during the last quarter. Versant Capital Management Inc lifted its position in Ingersoll Rand by 654.4% during the fourth quarter. Versant Capital Management Inc now owns 679 shares of the industrial products company’s stock valued at $61,000 after purchasing an additional 589 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in Ingersoll Rand during the fourth quarter valued at approximately $99,000. Finally, WASHINGTON TRUST Co lifted its position in Ingersoll Rand by 18.5% during the fourth quarter. WASHINGTON TRUST Co now owns 1,136 shares of the industrial products company’s stock valued at $103,000 after purchasing an additional 177 shares during the last quarter. 95.27% of the stock is currently owned by institutional investors.

Ingersoll Rand Trading Down 0.6 %

Shares of IR opened at $81.63 on Friday. The stock has a market capitalization of $32.90 billion, a P/E ratio of 39.63, a PEG ratio of 3.50 and a beta of 1.48. The company has a quick ratio of 1.71, a current ratio of 2.29 and a debt-to-equity ratio of 0.46. The firm has a fifty day simple moving average of $87.68 and a two-hundred day simple moving average of $93.95. Ingersoll Rand Inc. has a twelve month low of $79.79 and a twelve month high of $106.03.

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). The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. On average, research analysts anticipate that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Wednesday, March 5th will be issued 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 (DPR) is presently 3.88%.

Wall Street Analyst Weigh In

IR has been the subject of several research analyst reports. The Goldman Sachs Group lifted their target price on shares of Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Evercore ISI lowered their price objective 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. Stifel Nicolaus cut their price objective on shares of Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating for the company in a research note on Tuesday, February 18th. Citigroup cut their price objective on shares of Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Finally, Wells Fargo & Company cut their price objective 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. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Ingersoll Rand presently has an average rating of “Moderate Buy” and an average target price of $105.36.

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.