Fjarde AP Fonden Fourth Swedish National Pension Fund Has $7.77 Million Stock Position in Ingersoll Rand Inc. $IR

Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 10.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 93,369 shares of the industrial products company’s stock after buying an additional 9,200 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Ingersoll Rand were worth $7,766,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. boosted its holdings in Ingersoll Rand by 28.8% during the first quarter. T. Rowe Price Investment Management Inc. now owns 17,826,488 shares of the industrial products company’s stock valued at $1,426,654,000 after acquiring an additional 3,989,643 shares during the period. Nuveen LLC acquired a new stake in Ingersoll Rand during the first quarter worth about $211,408,000. Price T Rowe Associates Inc. MD increased its stake in Ingersoll Rand by 10.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 19,198,593 shares of the industrial products company’s stock valued at $1,536,464,000 after acquiring an additional 1,849,030 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Ingersoll Rand by 8,153.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,614,212 shares of the industrial products company’s stock valued at $137,692,000 after acquiring an additional 1,594,653 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Ingersoll Rand by 4.6% in the 1st quarter. JPMorgan Chase & Co. now owns 19,745,039 shares of the industrial products company’s stock worth $1,580,196,000 after acquiring an additional 866,759 shares during the period. Institutional investors own 95.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Robert W. Baird boosted their price objective on Ingersoll Rand from $97.00 to $103.00 and gave the company an “outperform” rating in a research report on Monday, August 4th. Melius lowered shares of Ingersoll Rand from a “buy” rating to a “hold” rating and set a $93.00 price target on the stock. in a report on Monday, July 14th. Citigroup reaffirmed a “buy” rating and set a $104.00 price objective (up from $91.00) on shares of Ingersoll Rand in a report on Monday, July 14th. Barclays lowered their target price on shares of Ingersoll Rand from $92.00 to $91.00 and set an “overweight” rating on the stock in a research note on Monday, August 4th. Finally, Stifel Nicolaus raised their price target on shares of Ingersoll Rand from $78.00 to $79.00 and gave the stock a “hold” rating in a research note on Monday, October 20th. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Ingersoll Rand currently has an average rating of “Moderate Buy” and a consensus target price of $98.09.

Ingersoll Rand Stock Up 0.9%

IR opened at $79.53 on Thursday. The firm has a market cap of $31.61 billion, a price-to-earnings ratio of 62.13, a PEG ratio of 4.70 and a beta of 1.43. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.63 and a current ratio of 2.29. The firm’s 50-day simple moving average is $79.90 and its 200-day simple moving average is $80.74. Ingersoll Rand Inc. has a twelve month low of $65.61 and a twelve month high of $106.03.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings results on Thursday, July 31st. The industrial products company reported $0.80 EPS for the quarter, meeting analysts’ consensus estimates of $0.80. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.85 billion. Ingersoll Rand had a net margin of 7.10% and a return on equity of 12.12%. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.83 earnings per share. Equities research analysts anticipate that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Stockholders of record on Thursday, November 13th will be paid a $0.02 dividend. The ex-dividend date is Thursday, November 13th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.1%. Ingersoll Rand’s payout ratio is 6.25%.

Ingersoll Rand Profile

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.