Allspring Global Investments Holdings LLC Sells 17,229 Shares of Ingersoll Rand Inc. (NYSE:IR)

Allspring Global Investments Holdings LLC lessened its holdings in Ingersoll Rand Inc. (NYSE:IR) by 5.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 299,834 shares of the industrial products company’s stock after selling 17,229 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Ingersoll Rand were worth $27,141,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in IR. Ashton Thomas Securities LLC bought a new position in shares of Ingersoll Rand during the 3rd quarter worth approximately $34,000. Eastern Bank bought a new position in shares of Ingersoll Rand during the third quarter valued at $42,000. UMB Bank n.a. boosted its stake in shares of Ingersoll Rand by 27.0% in the 4th 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 in the last quarter. Princeton Global Asset Management LLC bought a new stake in shares of Ingersoll Rand in the 3rd quarter worth about $65,000. Finally, Versant Capital Management Inc increased its position in shares of Ingersoll Rand by 654.4% during the 4th quarter. Versant Capital Management Inc now owns 679 shares of the industrial products company’s stock worth $61,000 after purchasing an additional 589 shares in the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on IR shares. Barclays decreased their price objective on shares of Ingersoll Rand from $120.00 to $115.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Robert W. Baird dropped their price target on Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating for the company in a report on Monday, November 4th. The Goldman Sachs Group boosted their price objective on Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. UBS Group assumed coverage on Ingersoll Rand in a report on Wednesday, November 13th. They set a “buy” rating and a $124.00 target price on the stock. Finally, Citigroup reduced their price target on shares of Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.92.

Ingersoll Rand Trading Down 7.3 %

IR opened at $85.79 on Friday. The firm has a 50 day simple moving average of $92.75 and a 200 day simple moving average of $95.18. Ingersoll Rand Inc. has a fifty-two week low of $83.72 and a fifty-two week high of $106.03. The company has a market cap of $34.58 billion, a price-to-earnings ratio of 41.85, a price-to-earnings-growth ratio of 3.66 and a beta of 1.43. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.36 and a quick ratio of 1.71.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings results on Thursday, February 13th. The industrial products company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). Ingersoll Rand had a net margin of 11.72% and a return on equity of 13.01%. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. On average, sell-side analysts anticipate that Ingersoll Rand Inc. will post 3.2 earnings per share for the current year.

Ingersoll Rand Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Wednesday, March 5th will be paid a $0.02 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.90%.

Ingersoll Rand Company Profile

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.