Ingersoll Rand Inc. (NYSE:IR) Position Increased by AIA Group Ltd

AIA Group Ltd increased its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 28.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 8,655 shares of the industrial products company’s stock after buying an additional 1,899 shares during the quarter. AIA Group Ltd’s holdings in Ingersoll Rand were worth $669,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank bought a new position in Ingersoll Rand during the fourth quarter valued at about $187,291,000. Morgan Stanley raised its holdings in Ingersoll Rand by 65.4% during the fourth quarter. Morgan Stanley now owns 4,701,832 shares of the industrial products company’s stock valued at $245,671,000 after buying an additional 1,858,698 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its holdings in Ingersoll Rand by 101.0% during the third quarter. Adage Capital Partners GP L.L.C. now owns 1,700,061 shares of the industrial products company’s stock valued at $108,328,000 after buying an additional 854,314 shares in the last quarter. Vanguard Group Inc. raised its holdings in Ingersoll Rand by 1.9% during the first quarter. Vanguard Group Inc. now owns 44,054,298 shares of the industrial products company’s stock valued at $2,218,134,000 after buying an additional 823,749 shares in the last quarter. Finally, Prudential Financial Inc. raised its holdings in Ingersoll Rand by 97.7% during the first quarter. Prudential Financial Inc. now owns 1,270,695 shares of the industrial products company’s stock valued at $63,980,000 after buying an additional 628,086 shares in the last quarter. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Ingersoll Rand Stock Down 0.6 %

IR stock opened at $88.40 on Friday. Ingersoll Rand Inc. has a twelve month low of $53.24 and a twelve month high of $96.17. The company has a market cap of $35.66 billion, a PE ratio of 46.53, a price-to-earnings-growth ratio of 3.10 and a beta of 1.44. The business’s 50-day simple moving average is $91.25 and its 200 day simple moving average is $78.68. The company has a quick ratio of 1.67, a current ratio of 2.22 and a debt-to-equity ratio of 0.27.

Ingersoll Rand (NYSE:IR) last released its earnings results on Thursday, February 15th. The industrial products company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. Ingersoll Rand had a return on equity of 12.24% and a net margin of 11.32%. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.76 billion. On average, research analysts anticipate that Ingersoll Rand Inc. will post 3.1 earnings per share for the current year.

Ingersoll Rand Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 7th were given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date was Wednesday, March 6th. Ingersoll Rand’s dividend payout ratio (DPR) is presently 4.21%.

Analyst Ratings Changes

IR has been the topic of several recent research reports. Stifel Nicolaus restated a “buy” rating and set a $102.00 target price on shares of Ingersoll Rand in a report on Tuesday, March 26th. BNP Paribas began coverage on Ingersoll Rand in a report on Tuesday, March 12th. They set a “neutral” rating and a $92.00 target price on the stock. UBS Group raised their price target on Ingersoll Rand from $78.00 to $93.00 and gave the company a “buy” rating in a research report on Monday, January 29th. Barclays raised their price target on Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Finally, StockNews.com raised Ingersoll Rand from a “hold” rating to a “buy” rating in a research report on Sunday, April 7th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $92.73.

Insider Buying and Selling

In related news, insider Andrew R. Schiesl sold 35,000 shares of Ingersoll Rand stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $89.46, for a total transaction of $3,131,100.00. Following the sale, the insider now directly owns 16,525 shares of the company’s stock, valued at $1,478,326.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Ingersoll Rand news, insider Andrew R. Schiesl sold 10,421 shares of Ingersoll Rand stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $89.95, for a total transaction of $937,368.95. Following the sale, the insider now directly owns 48,904 shares of the company’s stock, valued at $4,398,914.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Andrew R. Schiesl sold 35,000 shares of Ingersoll Rand stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $89.46, for a total value of $3,131,100.00. Following the sale, the insider now directly owns 16,525 shares in the company, valued at $1,478,326.50. The disclosure for this sale can be found here. Insiders have sold a total of 293,011 shares of company stock valued at $26,374,789 over the last three months. 0.83% of the stock is owned by corporate insiders.

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.