Ingersoll Rand Inc. $IR Shares Sold by Turtle Creek Asset Management Inc.

Turtle Creek Asset Management Inc. trimmed its holdings in Ingersoll Rand Inc. (NYSE:IR) by 15.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,301,517 shares of the industrial products company’s stock after selling 228,900 shares during the quarter. Ingersoll Rand accounts for approximately 3.9% of Turtle Creek Asset Management Inc.’s investment portfolio, making the stock its 13th biggest holding. Turtle Creek Asset Management Inc. owned 0.33% of Ingersoll Rand worth $104,278,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Deseret Mutual Benefit Administrators lifted its holdings in Ingersoll Rand by 46.9% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 351 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 112 shares during the period. Hilton Head Capital Partners LLC acquired a new stake in shares of Ingersoll Rand during the 4th quarter worth approximately $29,000. Reflection Asset Management purchased a new position in shares of Ingersoll Rand during the 4th quarter valued at approximately $31,000. Torren Management LLC acquired a new position in shares of Ingersoll Rand in the 4th quarter valued at $32,000. Finally, Salomon & Ludwin LLC boosted its holdings in Ingersoll Rand by 166.9% during the fourth quarter. Salomon & Ludwin LLC now owns 427 shares of the industrial products company’s stock worth $35,000 after buying an additional 267 shares in the last quarter. 95.27% of the stock is owned by institutional investors and hedge funds.

Ingersoll Rand Trading Down 2.2%

Shares of Ingersoll Rand stock opened at $84.62 on Thursday. The company has a current ratio of 2.23, a quick ratio of 1.59 and a debt-to-equity ratio of 0.47. Ingersoll Rand Inc. has a twelve month low of $68.07 and a twelve month high of $100.96. The firm has a market capitalization of $33.12 billion, a PE ratio of 57.18, a P/E/G ratio of 5.47 and a beta of 1.17. The firm’s 50-day moving average price is $77.50 and its 200 day moving average price is $82.69.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.74 by $0.03. The company had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.83 billion. Ingersoll Rand had a return on equity of 12.79% and a net margin of 7.54%.Ingersoll Rand’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.72 EPS. On average, sell-side analysts predict that Ingersoll Rand Inc. will post 3.37 EPS for the current fiscal year.

Ingersoll Rand Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 13th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Thursday, August 13th. Ingersoll Rand’s payout ratio is presently 5.41%.

Analysts Set New Price Targets

A number of research analysts have weighed in on IR shares. Barclays decreased their price objective on shares of Ingersoll Rand from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Stifel Nicolaus lowered their price target on Ingersoll Rand from $85.00 to $84.00 and set a “hold” rating on the stock in a research report on Monday, July 20th. Wall Street Zen raised Ingersoll Rand from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. Citigroup cut their price objective on Ingersoll Rand from $113.00 to $109.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Finally, Evercore set a $84.00 target price on Ingersoll Rand in a research report on Monday, May 11th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.86.

About Ingersoll Rand

Ingersoll Rand is a diversified industrial company that designs, manufactures and services a wide range of equipment and technologies for commercial, industrial and OEM customers. Its product portfolio includes air compressors and compressed air systems, pneumatic and cordless power tools, material handling and lifting equipment, fluid transfer and pumping solutions, and associated aftermarket parts and service offerings. The company’s products support applications across manufacturing, construction, transportation, oil and gas, mining and general industrial markets.

Ingersoll Rand sells through a combination of direct sales, distributor networks and service channels, delivering both capital equipment and recurring aftermarket revenue from parts, maintenance and service contracts.