Franklin Resources Inc. Has $1.11 Billion Stock Position in Ingersoll Rand Inc. (NYSE:IR)

Franklin Resources Inc. raised its holdings in Ingersoll Rand Inc. (NYSE:IR) by 5.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,277,177 shares of the industrial products company’s stock after acquiring an additional 679,856 shares during the period. Franklin Resources Inc. owned about 3.05% of Ingersoll Rand worth $1,110,593,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Norges Bank bought a new stake in Ingersoll Rand during the 4th quarter worth approximately $429,591,000. JPMorgan Chase & Co. lifted its stake in shares of Ingersoll Rand by 8.7% in the third 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 during the period. Caisse Des Depots ET Consignations bought a new stake in Ingersoll Rand in the fourth quarter valued at approximately $47,763,000. Raymond James Financial Inc. acquired a new stake in Ingersoll Rand during the 4th quarter valued at approximately $45,004,000. Finally, LPL Financial LLC raised its holdings in Ingersoll Rand by 204.0% during the 4th quarter. LPL Financial LLC now owns 706,886 shares of the industrial products company’s stock worth $63,945,000 after purchasing an additional 474,331 shares during the last quarter. Institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Stock Down 2.4 %

Ingersoll Rand stock opened at $79.38 on Monday. The firm has a 50 day moving average price of $86.69 and a 200-day moving average price of $93.73. 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 $79.03 and a twelve month high of $106.03. The company has a market capitalization of $32.00 billion, a P/E ratio of 38.53, a P/E/G ratio of 3.50 and a beta of 1.48.

Ingersoll Rand (NYSE:IR) last released 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 return on equity of 12.78% and a net margin of 11.59%. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. As a group, equities analysts predict that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Wednesday, March 5th were paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. The ex-dividend date was Wednesday, March 5th. Ingersoll Rand’s payout ratio is currently 3.88%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on IR. Wells Fargo & Company dropped their target price 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 target price on Ingersoll Rand from $105.00 to $111.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. The Goldman Sachs Group increased their price target on Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Barclays reduced their target price on Ingersoll Rand from $96.00 to $93.00 and set an “overweight” rating for the company in a research note on Wednesday, March 26th. Finally, Stifel Nicolaus dropped their price objective on shares of Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating on the stock in a research note on Tuesday, February 18th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $105.09.

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.