Franklin Resources Inc. Buys 679,856 Shares of Ingersoll Rand Inc. (NYSE:IR)

Franklin Resources Inc. increased its stake in Ingersoll Rand Inc. (NYSE:IR) by 5.9% in the 4th quarter, Holdings Channel reports. The fund owned 12,277,177 shares of the industrial products company’s stock after buying an additional 679,856 shares during the quarter. Franklin Resources Inc.’s holdings in Ingersoll Rand were worth $1,110,593,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Chicago Partners Investment Group LLC boosted its holdings in Ingersoll Rand by 4.7% in the fourth quarter. Chicago Partners Investment Group LLC now owns 2,438 shares of the industrial products company’s stock valued at $218,000 after acquiring an additional 109 shares in the last quarter. UMB Bank n.a. increased its position in shares of 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 buying an additional 127 shares during the period. RDA Financial Network lifted its holdings in Ingersoll Rand by 3.1% in the fourth quarter. RDA Financial Network now owns 4,324 shares of the industrial products company’s stock worth $391,000 after buying an additional 128 shares during the period. FSM Wealth Advisors LLC raised its position in shares of Ingersoll Rand by 5.8% in the 4th quarter. FSM Wealth Advisors LLC now owns 2,442 shares of the industrial products company’s stock worth $222,000 after acquiring an additional 134 shares in the last quarter. Finally, Park Avenue Securities LLC lifted its stake in shares of Ingersoll Rand by 3.3% in the 4th quarter. Park Avenue Securities LLC now owns 4,288 shares of the industrial products company’s stock valued at $388,000 after purchasing an additional 136 shares during the period. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Wall Street Analyst Weigh In

IR has been the topic of a number of research reports. The Goldman Sachs Group boosted their target price on shares of Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Wells Fargo & Company cut their price objective on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Barclays dropped their price target on Ingersoll Rand from $96.00 to $93.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 26th. Citigroup reduced their price objective on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Finally, Robert W. Baird boosted their price objective 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. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Ingersoll Rand presently has an average rating of “Moderate Buy” and a consensus price target of $105.09.

Ingersoll Rand Stock Down 2.4 %

Ingersoll Rand stock opened at $79.38 on Monday. The stock has a fifty day moving average of $86.69 and a 200 day moving average of $93.73. The stock has a market cap of $32.00 billion, a PE ratio of 38.53, a price-to-earnings-growth ratio of 3.50 and a beta of 1.48. Ingersoll Rand Inc. has a one year low of $79.03 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.

Ingersoll Rand (NYSE:IR) last announced its earnings results on Thursday, February 13th. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.04). Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. As a group, sell-side analysts predict that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Wednesday, March 5th were given a $0.02 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. Ingersoll Rand’s payout ratio is currently 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.