132,499 Shares in Ingersoll Rand Inc. (NYSE:IR) Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS purchased a new stake in Ingersoll Rand Inc. (NYSE:IR) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 132,499 shares of the industrial products company’s stock, valued at approximately $11,986,000.

Other hedge funds have also recently bought and sold shares of the company. Pathstone Holdings LLC grew its holdings in shares of Ingersoll Rand by 3.7% in the 3rd quarter. Pathstone Holdings LLC now owns 32,760 shares of the industrial products company’s stock worth $3,216,000 after purchasing an additional 1,171 shares during the last quarter. Eagle Asset Management Inc. grew its stake in Ingersoll Rand by 3.2% during the third quarter. Eagle Asset Management Inc. now owns 30,520 shares of the industrial products company’s stock worth $3,132,000 after buying an additional 953 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Ingersoll Rand by 9.4% during the third quarter. Daiwa Securities Group Inc. now owns 90,827 shares of the industrial products company’s stock worth $8,916,000 after buying an additional 7,784 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of Ingersoll Rand by 1.7% during the third quarter. Fisher Asset Management LLC now owns 6,744,839 shares of the industrial products company’s stock worth $662,074,000 after buying an additional 114,727 shares in the last quarter. Finally, DRW Securities LLC bought a new position in shares of Ingersoll Rand in the third quarter valued at approximately $543,000. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Ingersoll Rand Price Performance

IR opened at $82.21 on Tuesday. The company has a fifty day moving average price of $87.45 and a two-hundred day moving average price of $93.92. The firm has a market capitalization of $33.14 billion, a PE ratio of 39.91, a P/E/G ratio of 3.50 and a beta of 1.48. Ingersoll Rand Inc. has a 52 week low of $79.79 and a 52 week 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.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings data on Thursday, February 13th. The industrial products company reported $0.81 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 company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. As a group, analysts anticipate that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors 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 0.10%. Ingersoll Rand’s dividend payout ratio is 3.88%.

Wall Street Analysts Forecast Growth

IR has been the subject of a number of recent analyst reports. Wells Fargo & Company dropped their price target on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Barclays cut their price target on Ingersoll Rand from $102.00 to $96.00 and set an “overweight” rating for the company in a report on Monday, March 10th. Evercore ISI decreased their price objective on shares of Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Stifel Nicolaus dropped their target price on shares of Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating for the company in a research note on Tuesday, February 18th. Finally, The Goldman Sachs Group raised their price target 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. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $105.36.

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.