Mitsubishi UFJ Trust & Banking Corp Has $16.34 Million Stock Position in Ingersoll Rand Inc. (NYSE:IR)

Mitsubishi UFJ Trust & Banking Corp lessened its holdings in Ingersoll Rand Inc. (NYSE:IR) by 3.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 180,580 shares of the industrial products company’s stock after selling 5,711 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Ingersoll Rand were worth $16,335,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of IR. Savant Capital LLC raised its position in shares of Ingersoll Rand by 2.3% in the fourth quarter. Savant Capital LLC now owns 6,938 shares of the industrial products company’s stock valued at $628,000 after purchasing an additional 158 shares during the period. Virtu Financial LLC acquired a new position in Ingersoll Rand in the 3rd quarter valued at $864,000. Nordea Investment Management AB raised its holdings in 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 during the period. abrdn plc lifted its position in Ingersoll Rand by 70.5% during the 4th quarter. abrdn plc now owns 262,863 shares of the industrial products company’s stock worth $23,851,000 after acquiring an additional 108,700 shares during the last quarter. Finally, AdvisorNet Financial Inc boosted its holdings in Ingersoll Rand by 441.4% during the fourth quarter. AdvisorNet Financial Inc now owns 18,652 shares of the industrial products company’s stock valued at $1,687,000 after acquiring an additional 15,207 shares during the period. 95.27% of the stock is currently owned by institutional investors.

Ingersoll Rand Price Performance

NYSE:IR opened at $79.38 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.29. The company has a 50-day moving average of $86.69 and a 200-day moving average of $93.66. Ingersoll Rand Inc. has a 52 week low of $79.03 and a 52 week high of $106.03. The company has a market capitalization of $32.00 billion, a price-to-earnings ratio of 38.53, a PEG ratio of 3.50 and a beta of 1.48.

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

Ingersoll Rand Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Wednesday, March 5th were issued a dividend of $0.02 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. Ingersoll Rand’s payout ratio is presently 3.88%.

Analyst Ratings Changes

IR has been the subject of several research analyst reports. Robert W. Baird boosted 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. Stifel Nicolaus cut their price target on Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating for the company in a report on Tuesday, February 18th. The Goldman Sachs Group raised their price objective on shares of Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Wells Fargo & Company cut their target price on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Finally, Citigroup reduced their price target on shares of Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a report on Monday, January 13th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.09.

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.