138,595 Ingersoll Rand Inc. $IR Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC lowered its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 2.0% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,642,088 shares of the industrial products company’s stock after selling 138,595 shares during the quarter. Fisher Asset Management LLC owned about 1.73% of Ingersoll Rand worth $498,887,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. BlackRock Inc. bought a new position in Ingersoll Rand during the second quarter worth about $2,484,319,000. Jupiter Topco LLC acquired a new stake in Ingersoll Rand in the 2nd quarter worth about $547,628,000. Janus Henderson Group PLC raised its stake in Ingersoll Rand by 2.3% in the 1st quarter. Janus Henderson Group PLC now owns 6,576,720 shares of the industrial products company’s stock worth $526,926,000 after purchasing an additional 146,450 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Ingersoll Rand in the 2nd quarter valued at about $328,309,000. Finally, Amundi boosted its holdings in Ingersoll Rand by 19.3% in the 2nd quarter. Amundi now owns 3,282,920 shares of the industrial products company’s stock valued at $269,175,000 after purchasing an additional 531,095 shares during the period. Institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Stock Up 0.3%

NYSE IR opened at $85.37 on Friday. The business has a fifty day moving average price of $77.44 and a two-hundred day moving average price of $81.13. The stock has a market capitalization of $32.79 billion, a PE ratio of 24.03, a PEG ratio of 3.56 and a beta of 1.15. Ingersoll Rand Inc. has a fifty-two week low of $68.07 and a fifty-two week high of $100.96. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.69 and a quick ratio of 1.24.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings results on Thursday, October 29th. The industrial products company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.17. The company had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.05 billion. Ingersoll Rand had a net margin of 17.20% and a return on equity of 13.47%. The firm’s revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.86 EPS. Equities analysts expect that Ingersoll Rand Inc. will post 3.47 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Thursday, November 12th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, November 12th. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. Ingersoll Rand’s dividend payout ratio (DPR) is 2.25%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on IR shares. Citigroup reaffirmed a “buy” rating on shares of Ingersoll Rand in a report on Monday, October 12th. Morgan Stanley set a $87.00 price target on Ingersoll Rand in a research note on Monday, August 10th. Wall Street Zen cut Ingersoll Rand from a “buy” rating to a “hold” rating in a research note on Sunday, August 2nd. Weiss Ratings raised Ingersoll Rand from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday. Finally, Robert W. Baird lowered their price objective on Ingersoll Rand from $109.00 to $107.00 and set an “outperform” rating on the stock in a research note on Monday, November 2nd. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $95.00.

Ingersoll Rand Company Profile

Ingersoll Rand Inc. (NYSE: IR) is a global industrial company that designs and manufactures equipment and technologies used to move, manage and control air, gases, fluids and other materials. Its products include air and gas compressors, vacuum and blower systems, pumps, and related components and services. The company also supplies precision and science technologies for applications such as fluid handling, material processing and life sciences. Its equipment and services support customers across a range of industries, including manufacturing, energy, healthcare and food and beverage.