New York Life Investment Management LLC Has $5.53 Million Position in Ingersoll Rand Inc. (NYSE:IR)

New York Life Investment Management LLC cut its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 0.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 61,174 shares of the industrial products company’s stock after selling 128 shares during the quarter. New York Life Investment Management LLC’s holdings in Ingersoll Rand were worth $5,534,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IR. FMR LLC raised its position in shares of Ingersoll Rand by 10.5% in the 3rd quarter. FMR LLC now owns 16,152,094 shares of the industrial products company’s stock worth $1,585,489,000 after acquiring an additional 1,538,056 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Ingersoll Rand by 8.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 18,229,178 shares of the industrial products company’s stock worth $1,789,376,000 after acquiring an additional 1,462,538 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Ingersoll Rand by 2.5% in the 3rd quarter. Franklin Resources Inc. now owns 11,597,321 shares of the industrial products company’s stock worth $1,207,554,000 after acquiring an additional 278,710 shares in the last quarter. Nordea Investment Management AB raised its position in shares of Ingersoll Rand by 19.1% in the 4th quarter. Nordea Investment Management AB now owns 1,691,399 shares of the industrial products company’s stock worth $153,867,000 after acquiring an additional 271,381 shares in the last quarter. Finally, Fisher Asset Management LLC raised its position in shares of Ingersoll Rand by 1.7% in the 3rd quarter. Fisher Asset Management LLC now owns 6,744,839 shares of the industrial products company’s stock worth $662,074,000 after acquiring an additional 114,727 shares in the last quarter. 95.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

IR has been the subject of several research analyst reports. Robert W. Baird lifted their price objective on Ingersoll Rand from $105.00 to $111.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Wells Fargo & Company lowered their price objective on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Citigroup lowered their price objective on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Stifel Nicolaus decreased their target price on Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating for the company in a research report on Tuesday, February 18th. Finally, Evercore ISI decreased their target price on Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating for the company in a research report on Wednesday, February 19th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Ingersoll Rand has a consensus rating of “Moderate Buy” and an average price target of $104.75.

Ingersoll Rand Price Performance

IR stock opened at $84.95 on Friday. The company has a market capitalization of $34.24 billion, a P/E ratio of 41.24, a price-to-earnings-growth ratio of 3.50 and a beta of 1.43. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.29. Ingersoll Rand Inc. has a 52-week low of $81.71 and a 52-week high of $106.03. The business has a 50-day simple moving average of $90.02 and a two-hundred day simple moving average of $94.75.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings results on Thursday, February 13th. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. Research analysts expect that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Wednesday, March 5th will be paid a dividend of $0.02 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. Ingersoll Rand’s dividend payout ratio (DPR) is currently 3.88%.

Ingersoll Rand Company 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.