New York Life Investment Management LLC Sells 128 Shares of Ingersoll Rand Inc. (NYSE:IR)

New York Life Investment Management LLC lowered its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 0.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,174 shares of the industrial products company’s stock after selling 128 shares during the period. New York Life Investment Management LLC’s holdings in Ingersoll Rand were worth $5,534,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Savant Capital LLC increased 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 worth $628,000 after acquiring an additional 158 shares during the period. Virtu Financial LLC bought a new position in Ingersoll Rand during the 3rd quarter worth $864,000. Nordea Investment Management AB increased its stake in Ingersoll Rand by 19.1% during the 4th 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 during the period. Daiwa Securities Group Inc. increased its stake in Ingersoll Rand by 9.4% during the 3rd 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 during the period. Finally, abrdn plc increased its stake in Ingersoll Rand by 70.5% during the 4th 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 during the period. Institutional investors own 95.27% of the company’s stock.

Analyst Upgrades and Downgrades

IR has been the topic of a number of recent research reports. UBS Group initiated coverage on Ingersoll Rand in a research note on Wednesday, November 13th. They set a “buy” rating and a $124.00 price objective on the stock. Barclays reduced their target price on Ingersoll Rand from $115.00 to $102.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. Citigroup reduced their target price on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Stifel Nicolaus reduced their target price on Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating on the stock in a report on Tuesday, February 18th. Finally, The Goldman Sachs Group raised their target price on 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $104.75.

Ingersoll Rand Trading Up 2.2 %

NYSE IR opened at $84.95 on Friday. The company has a quick ratio of 1.71, a current ratio of 2.29 and a debt-to-equity ratio of 0.46. Ingersoll Rand Inc. has a twelve month low of $81.71 and a twelve month high of $106.03. The company has a market cap of $34.24 billion, a price-to-earnings ratio of 41.24, a price-to-earnings-growth ratio of 3.50 and a beta of 1.43. The business’s fifty day moving average is $90.02 and its 200 day moving average is $94.75.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings data 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). Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. As a group, sell-side analysts expect that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Announces Dividend

The business 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. This represents a $0.08 annualized dividend and a yield of 0.09%. The ex-dividend date of this dividend is Wednesday, March 5th. Ingersoll Rand’s payout ratio 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.