Fisher Asset Management LLC cut its holdings in shares of Ingersoll Rand Inc. (NYSE:IR – Free Report) by 2.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,642,088 shares of the industrial products company’s stock after selling 138,595 shares during the period. Fisher Asset Management LLC’s holdings in Ingersoll Rand were worth $498,887,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Russell Investments Group Ltd. raised its position in Ingersoll Rand by 3.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 532,290 shares of the industrial products company’s stock worth $40,029,000 after purchasing an additional 19,363 shares during the last quarter. Fifth Third Bancorp grew its position in shares of Ingersoll Rand by 7.5% during the 3rd quarter. Fifth Third Bancorp now owns 86,465 shares of the industrial products company’s stock worth $6,494,000 after buying an additional 6,045 shares during the period. Bingham Private Wealth LLC lifted its position in shares of Ingersoll Rand by 6.5% during the 3rd quarter. Bingham Private Wealth LLC now owns 4,018 shares of the industrial products company’s stock valued at $302,000 after acquiring an additional 245 shares during the period. Maryland State Retirement & Pension System boosted its stake in Ingersoll Rand by 10.6% during the third quarter. Maryland State Retirement & Pension System now owns 24,028 shares of the industrial products company’s stock worth $1,805,000 after acquiring an additional 2,311 shares in the last quarter. Finally, AMG National Trust Bank boosted its stake in Ingersoll Rand by 17.7% during the third quarter. AMG National Trust Bank now owns 11,674 shares of the industrial products company’s stock worth $877,000 after acquiring an additional 1,754 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors and hedge funds.
Ingersoll Rand Price Performance
Shares of NYSE:IR opened at $85.37 on Friday. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.38. The stock has a market cap of $32.79 billion, a PE ratio of 24.03, a price-to-earnings-growth ratio of 3.56 and a beta of 1.15. The stock’s fifty day simple moving average is $77.44 and its two-hundred day simple moving average is $81.13. Ingersoll Rand Inc. has a 1-year low of $68.07 and a 1-year high of $100.96.
Ingersoll Rand (NYSE:IR – Get Free Report) last posted its earnings results on Thursday, October 29th. The industrial products company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.17. The firm had revenue of $2.06 billion during the quarter, compared to analyst estimates of $2.05 billion. Ingersoll Rand had a net margin of 17.20% and a return on equity of 13.47%. The business’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.86 EPS. As a group, analysts forecast that Ingersoll Rand Inc. will post 3.47 EPS for the current fiscal year.
Ingersoll Rand Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Thursday, November 12th will be issued a dividend of $0.02 per share. The ex-dividend date is Thursday, November 12th. This represents a $0.08 annualized dividend and a yield of 0.1%. Ingersoll Rand’s payout ratio is 2.25%.
Analyst Ratings Changes
IR has been the subject of a number of research reports. Wall Street Zen cut shares of Ingersoll Rand from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. Robert W. Baird cut their price objective on shares of Ingersoll Rand from $109.00 to $107.00 and set an “outperform” rating on the stock in a research report on Monday, November 2nd. Citigroup reissued a “buy” rating on shares of Ingersoll Rand in a research report on Monday, October 12th. Morgan Stanley set a $87.00 target price on Ingersoll Rand in a research report on Monday, August 10th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $95.00 price target (up from $93.00) on shares of Ingersoll Rand in a research note on Monday, November 2nd. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Ingersoll Rand has a consensus rating of “Moderate Buy” and a consensus price target of $95.00.
Check Out Our Latest Analysis on Ingersoll Rand
Ingersoll Rand Company Profile
Ingersoll Rand Inc. (NYSE: IR) is a global industrial company that designs and manufactures equipment and technologies used to move, manage and control air, gases, fluids and other materials. Its products include air and gas compressors, vacuum and blower systems, pumps, and related components and services. The company also supplies precision and science technologies for applications such as fluid handling, material processing and life sciences. Its equipment and services support customers across a range of industries, including manufacturing, energy, healthcare and food and beverage.
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