Quantbot Technologies LP Invests $2.16 Million in Ingersoll Rand Inc. (NYSE:IR)

Quantbot Technologies LP bought a new position in shares of Ingersoll Rand Inc. (NYSE:IR) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 23,884 shares of the industrial products company’s stock, valued at approximately $2,161,000.

Several other hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in shares of Ingersoll Rand by 8.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 18,229,178 shares of the industrial products company’s stock worth $1,789,376,000 after acquiring an additional 1,462,538 shares in the last quarter. FMR LLC raised its position in shares of Ingersoll Rand by 10.5% during the 3rd quarter. FMR LLC now owns 16,152,094 shares of the industrial products company’s stock worth $1,585,489,000 after purchasing an additional 1,538,056 shares during the last quarter. State Street Corp raised its position in shares of Ingersoll Rand by 0.7% during the 3rd quarter. State Street Corp now owns 15,776,908 shares of the industrial products company’s stock worth $1,548,661,000 after purchasing an additional 112,824 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Ingersoll Rand by 2.5% during the 3rd quarter. Franklin Resources Inc. now owns 11,597,321 shares of the industrial products company’s stock worth $1,207,554,000 after purchasing an additional 278,710 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Ingersoll Rand by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 9,436,467 shares of the industrial products company’s stock worth $923,087,000 after purchasing an additional 54,952 shares during the last quarter. 95.27% of the stock is owned by hedge funds and other institutional investors.

Ingersoll Rand Stock Down 0.8 %

Shares of NYSE IR opened at $81.00 on Monday. The company has a 50 day simple moving average of $87.56 and a 200-day simple moving average of $93.96. The company has a market capitalization of $32.65 billion, a P/E ratio of 39.32, a P/E/G 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 Inc. has a 1 year low of $79.79 and a 1 year high of $106.03.

Ingersoll Rand (NYSE:IR) last announced 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). The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. On average, equities research analysts predict that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Wednesday, March 5th will be given a dividend of $0.02 per share. 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 payout ratio is currently 3.88%.

Analysts Set New Price Targets

Several research analysts recently weighed in on IR shares. Stifel Nicolaus reduced their price target on shares of Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating for the company in a research report on Tuesday, February 18th. Wells Fargo & Company reduced their price target on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Citigroup reduced their price target on shares of Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Barclays cut their price objective on shares of Ingersoll Rand from $102.00 to $96.00 and set an “overweight” rating for the company in a report on Monday, March 10th. Finally, Evercore ISI cut their price objective on shares of Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Ingersoll Rand currently has a consensus rating of “Moderate Buy” and a consensus 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.