Kornitzer Capital Management Inc. KS Cuts Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

Kornitzer Capital Management Inc. KS lowered its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 91.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,825 shares of the industrial products company’s stock after selling 89,314 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Ingersoll Rand were worth $708,000 at the end of the most recent reporting period.

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

Ingersoll Rand Price Performance

Shares of IR stock opened at $85.76 on Thursday. The firm has a market cap of $34.56 billion, a P/E ratio of 41.63, a P/E/G ratio of 3.40 and a beta of 1.43. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.29 and a quick ratio of 1.71. Ingersoll Rand Inc. has a 1-year low of $83.72 and a 1-year high of $106.03. The firm has a fifty day moving average of $91.79 and a two-hundred day moving average of $95.01.

Ingersoll Rand (NYSE:IR) last posted its quarterly 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). Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. As a group, research analysts anticipate that Ingersoll Rand Inc. will post 3.3 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Wednesday, March 5th will be given 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 payout ratio is currently 3.88%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on IR shares. Robert W. Baird raised their price target on shares of Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a report on Tuesday. UBS Group started coverage on shares of Ingersoll Rand in a report on Wednesday, November 13th. They set a “buy” rating and a $124.00 price target for the company. Wells Fargo & Company lowered their price target on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Barclays lowered their price target on shares of Ingersoll Rand from $115.00 to $102.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, Stifel Nicolaus lowered their price target on shares of Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating for the company in a report on Tuesday. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $104.75.

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.