Zacks Investment Management Cuts Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

Zacks Investment Management lowered its stake in Ingersoll Rand Inc. (NYSE:IR) by 76.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,907 shares of the industrial products company’s stock after selling 42,821 shares during the quarter. Zacks Investment Management’s holdings in Ingersoll Rand were worth $1,168,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Murphy & Mullick Capital Management Corp bought a new stake in shares of Ingersoll Rand in the 4th quarter worth about $36,000. OFI Invest Asset Management purchased a new position in Ingersoll Rand in the fourth quarter worth about $38,000. Lee Danner & Bass Inc. bought a new stake in Ingersoll Rand during the fourth quarter worth approximately $42,000. Millstone Evans Group LLC purchased a new stake in Ingersoll Rand during the fourth quarter valued at approximately $50,000. Finally, UMB Bank n.a. lifted its stake in shares of 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 last quarter. Institutional investors own 95.27% of the company’s stock.

Analysts Set New Price Targets

IR has been the topic of several recent research reports. Evercore ISI decreased their price target on Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Stifel Nicolaus reduced their target price on shares of Ingersoll Rand from $94.00 to $77.00 and set a “hold” rating on the stock in a research note on Monday, April 14th. Citigroup dropped their price target on shares of Ingersoll Rand from $109.00 to $88.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Wells Fargo & Company reduced their price objective on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Finally, Barclays dropped their target price on Ingersoll Rand from $93.00 to $85.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $100.36.

Ingersoll Rand Price Performance

IR opened at $72.05 on Friday. The company has a market capitalization of $29.04 billion, a price-to-earnings ratio of 34.98, a PEG ratio of 3.50 and a beta of 1.40. The company has a current ratio of 2.29, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. Ingersoll Rand Inc. has a 12-month low of $65.61 and a 12-month high of $106.03. The business’s fifty day simple moving average is $79.98 and its 200-day simple moving average is $91.13.

Ingersoll Rand (NYSE:IR) last posted its quarterly 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 net margin of 11.59% and a return on equity of 12.78%. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. On average, equities research analysts anticipate that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 5th were issued a $0.02 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.11%. Ingersoll Rand’s dividend payout ratio is presently 3.88%.

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.