Arrowstreet Capital Limited Partnership Sells 58,588 Shares of Ingersoll Rand Inc. $IR

Arrowstreet Capital Limited Partnership trimmed its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 9.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 548,045 shares of the industrial products company’s stock after selling 58,588 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.14% of Ingersoll Rand worth $43,909,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in Ingersoll Rand during the 4th quarter valued at about $407,915,000. T. Rowe Price Investment Management Inc. increased its stake in Ingersoll Rand by 18.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 21,791,309 shares of the industrial products company’s stock worth $1,726,308,000 after purchasing an additional 3,423,501 shares during the period. Capital International Investors lifted its position in Ingersoll Rand by 4.7% in the fourth quarter. Capital International Investors now owns 52,353,914 shares of the industrial products company’s stock valued at $4,147,878,000 after purchasing an additional 2,351,781 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Ingersoll Rand in the fourth quarter valued at approximately $149,297,000. Finally, Swedbank AB boosted its stake in shares of Ingersoll Rand by 72.4% during the fourth quarter. Swedbank AB now owns 3,878,349 shares of the industrial products company’s stock valued at $307,243,000 after purchasing an additional 1,628,996 shares during the period. 95.27% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on IR. Wall Street Zen upgraded shares of Ingersoll Rand from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings raised shares of Ingersoll Rand from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, July 21st. Morgan Stanley cut their price target on shares of Ingersoll Rand from $92.00 to $80.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 3rd. Stifel Nicolaus decreased their price objective on shares of Ingersoll Rand from $85.00 to $84.00 and set a “hold” rating on the stock in a research report on Monday, July 20th. Finally, Robert W. Baird set a $103.00 price objective on shares of Ingersoll Rand in a research note on Thursday, April 30th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Ingersoll Rand has a consensus rating of “Moderate Buy” and a consensus target price of $91.86.

Ingersoll Rand Price Performance

IR opened at $84.63 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.59 and a current ratio of 2.23. The stock has a market capitalization of $33.12 billion, a PE ratio of 57.18, a price-to-earnings-growth ratio of 5.34 and a beta of 1.17. The stock’s 50 day moving average price is $76.85 and its 200-day moving average price is $82.65. Ingersoll Rand Inc. has a 52-week low of $68.07 and a 52-week high of $100.96.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The company had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.83 billion. Ingersoll Rand had a return on equity of 12.79% and a net margin of 7.54%.The firm’s revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.72 earnings per share. On average, equities research analysts predict that Ingersoll Rand Inc. will post 3.37 EPS for the current year.

Ingersoll Rand Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 13th will be issued a $0.02 dividend. The ex-dividend date is Thursday, August 13th. This represents a $0.08 annualized dividend and a yield of 0.1%. Ingersoll Rand’s dividend payout ratio is 5.41%.

About Ingersoll Rand

Ingersoll Rand is a diversified industrial company that designs, manufactures and services a wide range of equipment and technologies for commercial, industrial and OEM customers. Its product portfolio includes air compressors and compressed air systems, pneumatic and cordless power tools, material handling and lifting equipment, fluid transfer and pumping solutions, and associated aftermarket parts and service offerings. The company’s products support applications across manufacturing, construction, transportation, oil and gas, mining and general industrial markets.

Ingersoll Rand sells through a combination of direct sales, distributor networks and service channels, delivering both capital equipment and recurring aftermarket revenue from parts, maintenance and service contracts.