Federated Hermes Inc. Sells 5,119 Shares of Ingersoll Rand Inc. (NYSE:IR)

Federated Hermes Inc. lowered its position in Ingersoll Rand Inc. (NYSE:IR) by 1.9% during the 4th quarter, Holdings Channel reports. The fund owned 259,055 shares of the industrial products company’s stock after selling 5,119 shares during the period. Federated Hermes Inc.’s holdings in Ingersoll Rand were worth $23,434,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp bought a new position in shares of Ingersoll Rand in the 4th quarter worth $36,000. OFI Invest Asset Management bought a new position in shares of Ingersoll Rand in the fourth quarter valued at $38,000. Lee Danner & Bass Inc. bought a new position in shares of Ingersoll Rand in the fourth quarter valued at $42,000. Millstone Evans Group LLC bought a new stake in shares of Ingersoll Rand during the fourth quarter worth about $50,000. Finally, UMB Bank n.a. increased its position in shares of Ingersoll Rand by 27.0% during the fourth quarter. UMB Bank n.a. now owns 598 shares of the industrial products company’s stock worth $54,000 after acquiring an additional 127 shares in the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.

Ingersoll Rand Stock Performance

Shares of IR stock opened at $66.56 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.29. The firm has a market cap of $26.83 billion, a price-to-earnings ratio of 32.31, a P/E/G ratio of 3.50 and a beta of 1.40. Ingersoll Rand Inc. has a 52 week low of $64.43 and a 52 week high of $106.03. The firm’s 50-day simple moving average is $83.58 and its two-hundred day simple moving average is $92.60.

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

Ingersoll Rand Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on IR. Evercore ISI cut their price target 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. Barclays cut their target price on Ingersoll Rand from $96.00 to $93.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 26th. Robert W. Baird increased 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. Stifel Nicolaus dropped their price objective on Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating on the stock in a research note on Tuesday, February 18th. Finally, Citigroup reduced their target price 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 equities research 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 stock currently has a consensus rating of “Moderate Buy” and an average target price of $105.09.

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.