Fjarde AP Fonden Fourth Swedish National Pension Fund Increases Position in Ingersoll Rand Inc. (NYSE:IR)

Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 40.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 102,969 shares of the industrial products company’s stock after acquiring an additional 29,700 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Ingersoll Rand were worth $9,315,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Savant Capital LLC grew its stake in Ingersoll Rand by 2.3% during the 4th quarter. Savant Capital LLC now owns 6,938 shares of the industrial products company’s stock valued at $628,000 after acquiring an additional 158 shares in the last quarter. Virtu Financial LLC purchased a new stake in Ingersoll Rand during the 3rd quarter valued at about $864,000. Nordea Investment Management AB boosted its holdings in Ingersoll Rand by 19.1% in the 4th quarter. Nordea Investment Management AB now owns 1,691,399 shares of the industrial products company’s stock valued at $153,867,000 after purchasing an additional 271,381 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in Ingersoll Rand by 9.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 90,827 shares of the industrial products company’s stock valued at $8,916,000 after purchasing an additional 7,784 shares during the last quarter. Finally, abrdn plc boosted its holdings in Ingersoll Rand by 70.5% in the 4th quarter. abrdn plc now owns 262,863 shares of the industrial products company’s stock valued at $23,851,000 after purchasing an additional 108,700 shares during the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on IR shares. Citigroup decreased their target price on shares of Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, January 13th. UBS Group started coverage on shares of Ingersoll Rand in a report on Wednesday, November 13th. They issued a “buy” rating and a $124.00 target price on the stock. Robert W. Baird boosted their target price on shares of Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Barclays decreased their target price on shares of Ingersoll Rand from $115.00 to $102.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. Finally, 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. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $104.75.

Ingersoll Rand Stock Performance

Shares of IR stock opened at $83.66 on Monday. The firm has a market cap of $33.72 billion, a P/E ratio of 40.61, a P/E/G ratio of 3.50 and a beta of 1.43. Ingersoll Rand Inc. has a one year low of $83.26 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 firm’s 50 day moving average price is $91.15 and its 200-day moving average price is $95.03.

Ingersoll Rand (NYSE:IR) last released its 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). The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. As a group, equities research analysts predict that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Wednesday, March 5th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. 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.