Nuveen Asset Management LLC Sells 533,889 Shares of Ingersoll Rand Inc. (NYSE:IR)

Nuveen Asset Management LLC trimmed its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 14.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,132,754 shares of the industrial products company’s stock after selling 533,889 shares during the quarter. Nuveen Asset Management LLC owned 0.78% of Ingersoll Rand worth $283,389,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Ingersoll Rand by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 45,684,016 shares of the industrial products company’s stock worth $4,132,576,000 after purchasing an additional 446,591 shares in the last quarter. Capital International Investors lifted its position in Ingersoll Rand by 4.6% during the fourth quarter. Capital International Investors now owns 36,673,865 shares of the industrial products company’s stock valued at $3,317,537,000 after purchasing an additional 1,606,363 shares in the last quarter. Capital World Investors lifted its position in Ingersoll Rand by 1.0% during the fourth quarter. Capital World Investors now owns 20,088,857 shares of the industrial products company’s stock valued at $1,817,238,000 after purchasing an additional 197,711 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Ingersoll Rand by 3.6% during the fourth quarter. JPMorgan Chase & Co. now owns 18,878,280 shares of the industrial products company’s stock valued at $1,707,729,000 after purchasing an additional 649,102 shares in the last quarter. Finally, FMR LLC lifted its position in Ingersoll Rand by 8.2% during the fourth quarter. FMR LLC now owns 17,472,317 shares of the industrial products company’s stock valued at $1,580,546,000 after purchasing an additional 1,320,223 shares in the last quarter. 95.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on IR. Stifel Nicolaus decreased their price target on Ingersoll Rand from $94.00 to $77.00 and set a “hold” rating on the stock in a report on Monday, April 14th. Barclays dropped their price target 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. Robert W. Baird boosted their target price on Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Wells Fargo & Company boosted their price target on Ingersoll Rand from $80.00 to $86.00 and gave the company an “overweight” rating in a report on Monday, May 5th. Finally, Evercore ISI lowered their price target on Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $98.91.

Ingersoll Rand Trading Down 1.3%

Shares of Ingersoll Rand stock opened at $83.37 on Thursday. The firm has a market capitalization of $33.64 billion, a PE ratio of 40.47, a P/E/G ratio of 3.50 and a beta of 1.42. Ingersoll Rand Inc. has a twelve month low of $65.61 and a twelve month high of $106.03. The firm’s 50-day moving average price is $77.01 and its 200 day moving average price is $88.34. 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 (NYSE:IR) last released its earnings results on Thursday, May 1st. The industrial products company reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.02). Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. The business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same period last year, the business earned $0.78 earnings per share. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, sell-side analysts predict that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 15th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date of this dividend is Thursday, May 15th. Ingersoll Rand’s dividend payout ratio (DPR) is 3.96%.

Ingersoll Rand announced that its board has approved a stock buyback plan on Thursday, May 1st that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the industrial products company to reacquire up to 3.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its shares are undervalued.

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.