Wellington Management Group LLP Reduces Stake in Ingersoll Rand Inc. (NYSE:IR)

Wellington Management Group LLP lessened its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 3.8% during the 4th quarter, Holdings Channel reports. The fund owned 3,953,566 shares of the industrial products company’s stock after selling 157,747 shares during the quarter. Wellington Management Group LLP’s holdings in Ingersoll Rand were worth $357,640,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Murphy & Mullick Capital Management Corp purchased a new position in Ingersoll Rand during the fourth quarter worth about $36,000. OFI Invest Asset Management purchased a new stake in shares of Ingersoll Rand during the 4th quarter valued at approximately $38,000. Lee Danner & Bass Inc. acquired a new position in Ingersoll Rand in the fourth quarter valued at approximately $42,000. Millstone Evans Group LLC acquired a new position in Ingersoll Rand in the fourth quarter valued at approximately $50,000. Finally, UMB Bank n.a. grew its position in Ingersoll Rand by 27.0% in the fourth quarter. UMB Bank n.a. now owns 598 shares of the industrial products company’s stock worth $54,000 after acquiring an additional 127 shares during the period. Institutional investors and hedge funds own 95.27% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Evercore ISI decreased their price target 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. Barclays decreased their target price on shares of Ingersoll Rand from $96.00 to $93.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 26th. Robert W. Baird boosted their price target on shares of Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Stifel Nicolaus lowered their price objective on shares of 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, Wells Fargo & Company cut their target price on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $105.09.

Ingersoll Rand Trading Up 0.7 %

NYSE:IR opened at $80.59 on Wednesday. The stock has a fifty day moving average price of $86.18 and a 200 day moving average price of $93.59. The company has a current ratio of 2.29, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. Ingersoll Rand Inc. has a 12-month low of $77.18 and a 12-month high of $106.03. The firm has a market cap of $32.49 billion, a PE ratio of 39.12, a price-to-earnings-growth ratio of 3.50 and a beta of 1.48.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings data 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 company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. Sell-side analysts anticipate that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.02 per share. The ex-dividend date was Wednesday, March 5th. This represents a $0.08 annualized dividend and a dividend yield of 0.10%. 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.