Ingersoll Rand Inc. (NYSE:IR) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp lessened its stake in Ingersoll Rand Inc. (NYSE:IR) by 3.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 180,580 shares of the industrial products company’s stock after selling 5,711 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Ingersoll Rand were worth $16,335,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. OFI Invest Asset Management bought a new stake in shares of Ingersoll Rand in the 4th quarter worth $38,000. Lee Danner & Bass Inc. bought a new stake in Ingersoll Rand in the fourth quarter worth about $42,000. Millstone Evans Group LLC acquired a new stake in Ingersoll Rand in the 4th quarter valued at about $50,000. UMB Bank n.a. boosted its position in shares of Ingersoll Rand by 27.0% during 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. Finally, Versant Capital Management Inc grew its stake in shares of Ingersoll Rand by 654.4% in 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 during the last quarter. 95.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on IR. Stifel Nicolaus cut 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. Evercore ISI reduced their price objective on Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. Citigroup cut their target price on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. The Goldman Sachs Group upped 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. Finally, Robert W. Baird boosted their price objective on Ingersoll Rand from $105.00 to $111.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $105.09.

Ingersoll Rand Price Performance

NYSE IR opened at $79.38 on Friday. The company has a 50 day simple moving average of $86.69 and a 200-day simple moving average of $93.66. Ingersoll Rand Inc. has a 52-week low of $79.03 and a 52-week high of $106.03. The firm has a market capitalization of $32.00 billion, a price-to-earnings ratio of 38.53, a price-to-earnings-growth ratio of 3.50 and a beta of 1.48. 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 (NYSE:IR) last issued its 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 net margin of 11.59% and a return on equity of 12.78%. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Equities research analysts predict that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Wednesday, March 5th were given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.10%. The ex-dividend date was Wednesday, March 5th. Ingersoll Rand’s payout ratio is currently 3.88%.

Ingersoll Rand 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.