ABC Arbitrage SA Invests $2.14 Million in Ingersoll Rand Inc. (NYSE:IR)

ABC Arbitrage SA bought a new position in shares of Ingersoll Rand Inc. (NYSE:IR) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 23,688 shares of the industrial products company’s stock, valued at approximately $2,143,000.

Other large investors also recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new stake in shares of Ingersoll Rand during the 3rd quarter worth $34,000. Eastern Bank bought a new stake in shares of Ingersoll Rand during the 3rd quarter worth $42,000. UMB Bank n.a. lifted its position in shares of Ingersoll Rand by 27.0% during the 4th quarter. UMB Bank n.a. now owns 598 shares of the industrial products company’s stock worth $54,000 after buying an additional 127 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of Ingersoll Rand by 654.4% during the 4th quarter. Versant Capital Management Inc now owns 679 shares of the industrial products company’s stock worth $61,000 after buying an additional 589 shares during the last quarter. Finally, Princeton Global Asset Management LLC bought a new stake in shares of Ingersoll Rand during the 3rd quarter worth $65,000. 95.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on IR shares. Stifel Nicolaus dropped their price objective on Ingersoll Rand from $107.00 to $100.00 and set a “hold” rating for the company in a research report on Friday, January 24th. Citigroup dropped their price objective on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, January 13th. UBS Group initiated coverage on Ingersoll Rand in a research report on Wednesday, November 13th. They set a “buy” rating and a $124.00 price objective for the company. The Goldman Sachs Group increased their target price on Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Finally, Robert W. Baird dropped their target price on Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Ingersoll Rand presently has an average rating of “Moderate Buy” and an average price target of $105.92.

Ingersoll Rand Trading Down 7.3 %

Shares of IR stock opened at $85.79 on Friday. The stock has a market cap of $34.58 billion, a price-to-earnings ratio of 41.85, a PEG ratio of 3.66 and a beta of 1.43. The stock has a 50-day moving average of $93.08 and a 200-day moving average of $95.27. The company has a current ratio of 2.36, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. Ingersoll Rand Inc. has a 1-year low of $83.72 and a 1-year high of $106.03.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings results on Thursday, February 13th. The industrial products company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.04). Ingersoll Rand had a net margin of 11.72% and a return on equity of 13.01%. On average, equities research analysts forecast that Ingersoll Rand Inc. will post 3.2 earnings per share for the current year.

Ingersoll Rand Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.08 annualized dividend and a yield of 0.09%. Ingersoll Rand’s dividend payout ratio is currently 3.90%.

About Ingersoll Rand

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.