KLP Kapitalforvaltning AS Makes New Investment in Ingersoll Rand Inc. (NYSE:IR)

KLP Kapitalforvaltning AS purchased a new position in Ingersoll Rand Inc. (NYSE:IR) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 132,499 shares of the industrial products company’s stock, valued at approximately $11,986,000.

Several other large investors also recently modified their holdings of the business. Savant Capital LLC increased its stake in Ingersoll Rand by 2.3% during the 4th quarter. Savant Capital LLC now owns 6,938 shares of the industrial products company’s stock worth $628,000 after purchasing an additional 158 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Ingersoll Rand during the third quarter worth $864,000. Nordea Investment Management AB raised its holdings in shares of Ingersoll Rand by 19.1% during the fourth 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 during the period. Daiwa Securities Group Inc. lifted its position in Ingersoll Rand by 9.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 90,827 shares of the industrial products company’s stock valued at $8,916,000 after acquiring an additional 7,784 shares in the last quarter. Finally, abrdn plc boosted its stake in Ingersoll Rand by 70.5% in the 4th quarter. abrdn plc now owns 262,863 shares of the industrial products company’s stock worth $23,851,000 after purchasing an additional 108,700 shares during the period. 95.27% of the stock is currently owned by institutional investors.

Ingersoll Rand Stock Performance

Shares of IR opened at $82.21 on Tuesday. The company has a market cap of $33.14 billion, a PE ratio of 39.91, a price-to-earnings-growth ratio of 3.50 and a beta of 1.48. The firm has a 50-day moving average of $87.45 and a 200-day moving average of $93.92. Ingersoll Rand Inc. has a one year low of $79.79 and a one year high of $106.03. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.29 and a quick ratio of 1.71.

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

Ingersoll Rand Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Wednesday, March 5th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date of this dividend is Wednesday, March 5th. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.88%.

Analysts Set New Price Targets

IR has been the topic of several recent research reports. Wells Fargo & Company dropped their price target on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Evercore ISI cut their target price on Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 19th. Stifel Nicolaus decreased their price target on shares of Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating for the company in a research note on Tuesday, February 18th. The Goldman Sachs Group boosted their price objective on shares of Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Finally, Citigroup decreased their target price on shares of Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Ingersoll Rand has a consensus rating of “Moderate Buy” and an average price target of $105.36.

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.