Resona Asset Management Co. Ltd. Invests $11.02 Million in Ingersoll Rand Inc. (NYSE:IR)

Resona Asset Management Co. Ltd. bought a new stake in Ingersoll Rand Inc. (NYSE:IR) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 121,645 shares of the industrial products company’s stock, valued at approximately $11,024,000.

Several other institutional investors have also recently bought and sold shares of IR. Chicago Partners Investment Group LLC boosted its position in shares of Ingersoll Rand by 4.7% in the fourth quarter. Chicago Partners Investment Group LLC now owns 2,438 shares of the industrial products company’s stock valued at $218,000 after acquiring an additional 109 shares during the period. UMB Bank n.a. boosted its holdings in Ingersoll Rand by 27.0% in 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 during the period. RDA Financial Network grew its position in Ingersoll Rand by 3.1% in the 4th quarter. RDA Financial Network now owns 4,324 shares of the industrial products company’s stock worth $391,000 after purchasing an additional 128 shares during the last quarter. FSM Wealth Advisors LLC grew its position in Ingersoll Rand by 5.8% in the 4th quarter. FSM Wealth Advisors LLC now owns 2,442 shares of the industrial products company’s stock worth $222,000 after purchasing an additional 134 shares during the last quarter. Finally, Park Avenue Securities LLC increased its holdings in shares of Ingersoll Rand by 3.3% during the 4th quarter. Park Avenue Securities LLC now owns 4,288 shares of the industrial products company’s stock worth $388,000 after purchasing an additional 136 shares during the period. Institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Stock Down 5.5 %

NYSE IR opened at $69.51 on Monday. The stock’s 50 day simple moving average is $85.05 and its 200 day simple moving average is $93.21. Ingersoll Rand Inc. has a one year low of $67.19 and a one year high of $106.03. The firm has a market cap of $28.02 billion, a PE ratio of 33.74, a price-to-earnings-growth ratio of 3.50 and a beta of 1.40. 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 announced its 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). Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. As a group, sell-side analysts forecast that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Wednesday, March 5th were paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date was Wednesday, March 5th. Ingersoll Rand’s dividend payout ratio is presently 3.88%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on IR. Evercore ISI decreased their target price 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. The Goldman Sachs Group raised their price objective on Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Robert W. Baird upped their target price on Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Barclays decreased their price target on shares of Ingersoll Rand from $96.00 to $93.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 26th. Finally, Citigroup dropped their price objective on shares of Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Six investment 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 stock has an average rating of “Moderate Buy” and a consensus price target of $105.09.

Ingersoll Rand Company 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.