Legal & General Group Plc Trims Stake in Ingersoll Rand Inc. (NYSE:IR)

Legal & General Group Plc cut its holdings in Ingersoll Rand Inc. (NYSE:IR) by 22.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 2,307,138 shares of the industrial products company’s stock after selling 666,720 shares during the period. Legal & General Group Plc owned 0.57% of Ingersoll Rand worth $208,703,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Invesco Ltd. increased its holdings in shares of Ingersoll Rand by 2.9% during the 4th quarter. Invesco Ltd. now owns 3,125,280 shares of the industrial products company’s stock worth $282,713,000 after buying an additional 87,145 shares during the last quarter. Bank of Montreal Can boosted its position in Ingersoll Rand by 1.6% in the 4th quarter. Bank of Montreal Can now owns 497,178 shares of the industrial products company’s stock valued at $44,975,000 after buying an additional 7,791 shares during the last quarter. Polymer Capital Management US LLC bought a new position in shares of Ingersoll Rand during the fourth quarter worth about $652,000. FMR LLC lifted its holdings in Ingersoll Rand by 8.2% in the fourth quarter. FMR LLC now owns 17,472,317 shares of the industrial products company’s stock worth $1,580,546,000 after acquiring an additional 1,320,223 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd lifted its holdings in Ingersoll Rand by 190.0% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,415 shares of the industrial products company’s stock worth $128,000 after acquiring an additional 927 shares during the last quarter. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Ingersoll Rand Stock Performance

Shares of IR opened at $73.47 on Thursday. The company’s fifty day moving average price is $82.77 and its 200 day moving average price is $92.30. Ingersoll Rand Inc. has a one year low of $65.61 and a one year high of $106.03. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.29 and a quick ratio of 1.71. The company has a market capitalization of $29.61 billion, a PE ratio of 35.67, a price-to-earnings-growth ratio of 3.50 and a beta of 1.40.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings data on Thursday, February 13th. The industrial products company reported $0.81 earnings per share (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 company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. As a group, analysts expect that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.02 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.08 annualized dividend and a dividend yield of 0.11%. Ingersoll Rand’s dividend payout ratio (DPR) is currently 3.88%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Stifel Nicolaus dropped their price target 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. Robert W. Baird raised their target price on shares of Ingersoll Rand from $105.00 to $111.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Citigroup decreased 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. Barclays decreased their target price on shares of 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, Evercore ISI decreased their target price on shares of 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. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.