Wellington Management Group LLP Sells 157,747 Shares of Ingersoll Rand Inc. (NYSE:IR)

Wellington Management Group LLP trimmed its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 3.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,953,566 shares of the industrial products company’s stock after selling 157,747 shares during the quarter. Wellington Management Group LLP owned about 0.98% of Ingersoll Rand worth $357,640,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of IR. Savant Capital LLC boosted its stake in Ingersoll Rand by 2.3% in the fourth quarter. Savant Capital LLC now owns 6,938 shares of the industrial products company’s stock valued at $628,000 after acquiring an additional 158 shares in the last quarter. Virtu Financial LLC acquired a new stake in Ingersoll Rand in the 3rd quarter worth approximately $864,000. Nordea Investment Management AB lifted its stake in shares of Ingersoll Rand by 19.1% during 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 buying an additional 271,381 shares during the period. abrdn plc lifted its position 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. Finally, AdvisorNet Financial Inc boosted its position in Ingersoll Rand by 441.4% in the fourth quarter. AdvisorNet Financial Inc now owns 18,652 shares of the industrial products company’s stock valued at $1,687,000 after buying an additional 15,207 shares during the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on IR shares. Wells Fargo & Company lowered their price target on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Robert W. Baird lifted their price target on Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Evercore ISI lowered their price objective on Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 19th. 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 report on Tuesday, February 18th. Finally, Citigroup lowered their price target on shares of Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $105.09.

Ingersoll Rand Trading Up 0.7 %

Shares of Ingersoll Rand stock opened at $80.59 on Wednesday. The firm’s 50-day moving average price is $86.18 and its 200 day moving average price is $93.59. Ingersoll Rand Inc. has a twelve month low of $77.18 and a twelve month high of $106.03. The firm has a market capitalization of $32.49 billion, a PE ratio of 39.12, a P/E/G ratio of 3.50 and a beta of 1.48. The company has a current ratio of 2.29, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings results on Thursday, February 13th. The industrial products company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.04). The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. On average, sell-side analysts predict that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Wednesday, March 5th were given a dividend of $0.02 per share. The ex-dividend date was Wednesday, March 5th. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. Ingersoll Rand’s payout ratio is presently 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.