Legal & General Group Plc Has $208.70 Million Holdings in Ingersoll Rand Inc. (NYSE:IR)

Legal & General Group Plc trimmed its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 22.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,307,138 shares of the industrial products company’s stock after selling 666,720 shares during the period. Legal & General Group Plc’s holdings in Ingersoll Rand were worth $208,703,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Ingersoll Rand by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 45,684,016 shares of the industrial products company’s stock worth $4,132,576,000 after purchasing an additional 446,591 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Ingersoll Rand by 3.6% during the fourth quarter. JPMorgan Chase & Co. now owns 18,878,280 shares of the industrial products company’s stock worth $1,707,729,000 after purchasing an additional 649,102 shares in the last quarter. FMR LLC lifted its position in shares of Ingersoll Rand by 8.2% during the fourth quarter. FMR LLC now owns 17,472,317 shares of the industrial products company’s stock worth $1,580,546,000 after purchasing an additional 1,320,223 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Ingersoll Rand by 5.9% during the fourth quarter. Franklin Resources Inc. now owns 12,277,177 shares of the industrial products company’s stock worth $1,110,593,000 after purchasing an additional 679,856 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Ingersoll Rand by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 9,648,574 shares of the industrial products company’s stock worth $870,503,000 after purchasing an additional 212,107 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on IR. Stifel Nicolaus dropped their price target 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. Wells Fargo & Company dropped their price target 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. Barclays dropped their price target on shares of Ingersoll Rand from $96.00 to $93.00 and set an “overweight” rating for the company in a research note on Wednesday, March 26th. The Goldman Sachs Group boosted their price target on shares of Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Finally, Evercore ISI dropped their price target on shares of Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ingersoll Rand presently has a consensus rating of “Moderate Buy” and an average price target of $105.09.

Ingersoll Rand Stock Up 10.1 %

Ingersoll Rand stock opened at $73.47 on Thursday. The stock has a market capitalization of $29.61 billion, a PE ratio of 35.67, a price-to-earnings-growth ratio of 3.50 and a beta of 1.40. Ingersoll Rand Inc. has a twelve month low of $65.61 and a twelve month high of $106.03. 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 company has a 50 day moving average of $82.77 and a 200-day moving average of $92.30.

Ingersoll Rand (NYSE:IR) last released 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 company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. On average, equities research analysts anticipate that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 5th were issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.11%. The ex-dividend date was 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.