Steward Partners Investment Advisory LLC cut its holdings in Ingersoll Rand Inc. (NYSE:IR – Get Rating) by 23.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,810 shares of the industrial products company’s stock after selling 1,143 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Ingersoll Rand were worth $192,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Masso Torrence Wealth Management Inc. acquired a new stake in Ingersoll Rand in the fourth quarter worth about $27,000. Massmutual Trust Co. FSB ADV increased its position in Ingersoll Rand by 103.4% in the first quarter. Massmutual Trust Co. FSB ADV now owns 537 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 273 shares during the period. Riverview Trust Co bought a new position in Ingersoll Rand during the first quarter worth about $28,000. Confluence Wealth Services Inc. bought a new position in Ingersoll Rand during the fourth quarter worth about $32,000. Finally, Edmond DE Rothschild Holding S.A. bought a new position in Ingersoll Rand during the fourth quarter worth about $34,000. 97.41% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities analysts have issued reports on the company. Morgan Stanley reduced their target price on Ingersoll Rand from $56.00 to $52.00 and set an “overweight” rating on the stock in a report on Tuesday, May 31st. TheStreet cut Ingersoll Rand from a “b-” rating to a “c” rating in a report on Wednesday, May 4th. Jefferies Financial Group reduced their target price on Ingersoll Rand from $60.00 to $55.00 in a report on Friday, July 15th. Wells Fargo & Company cut their price objective on Ingersoll Rand from $50.00 to $49.00 in a report on Tuesday, July 12th. Finally, Credit Suisse Group set a $49.00 price objective on Ingersoll Rand in a report on Tuesday, July 19th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $53.64.
Ingersoll Rand Stock Up 3.4 %
Ingersoll Rand (NYSE:IR – Get Rating) last announced its earnings results on Wednesday, May 4th. The industrial products company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.03. Ingersoll Rand had a return on equity of 9.16% and a net margin of 14.12%. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter last year, the firm earned $0.26 EPS. Ingersoll Rand’s revenue for the quarter was up 18.4% compared to the same quarter last year. On average, analysts predict that Ingersoll Rand Inc. will post 2.16 earnings per share for the current fiscal year.
Ingersoll Rand Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 22nd. Shareholders of record on Friday, May 20th were given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.16%. The ex-dividend date of this dividend was Thursday, May 19th. Ingersoll Rand’s dividend payout ratio (DPR) is 4.42%.
Ingersoll Rand Profile
Ingersoll Rand Inc provides various mission-critical air, fluid, energy, specialty vehicle and medical technologies in the United States, Europe, the Middle East, Africa, and the Asia Pacific. It operates through two segments, Industrial Technologies and Services, and Precision and Science Technologies.
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