4,748,959 Shares in Ingersoll Rand Inc. (NYSE:IR) Purchased by Norges Bank

Norges Bank bought a new stake in Ingersoll Rand Inc. (NYSE:IR) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 4,748,959 shares of the industrial products company’s stock, valued at approximately $429,591,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Murphy & Mullick Capital Management Corp acquired a new position in shares of Ingersoll Rand in the fourth quarter valued at approximately $36,000. OFI Invest Asset Management purchased a new position in Ingersoll Rand in the 4th quarter valued at approximately $38,000. Lee Danner & Bass Inc. acquired a new position in shares of Ingersoll Rand in the fourth quarter worth $42,000. Millstone Evans Group LLC purchased a new stake in shares of Ingersoll Rand during the fourth quarter worth $50,000. Finally, UMB Bank n.a. raised its stake in shares of Ingersoll Rand by 27.0% in the fourth quarter. UMB Bank n.a. now owns 598 shares of the industrial products company’s stock valued at $54,000 after acquiring an additional 127 shares in the last quarter. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Wells Fargo & Company lowered their target price on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Stifel Nicolaus cut their target price on shares of Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating on the stock in a research note on Tuesday, February 18th. Citigroup reduced their target price on shares of Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Robert W. Baird increased their price objective on shares of Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Finally, Evercore ISI reduced their price objective on shares of Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $105.09.

Ingersoll Rand Price Performance

Shares of NYSE:IR opened at $79.38 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.29 and a quick ratio of 1.71. Ingersoll Rand Inc. has a 12 month low of $79.03 and a 12 month high of $106.03. The firm has a market capitalization of $32.00 billion, a P/E ratio of 38.53, a P/E/G ratio of 3.50 and a beta of 1.48. The company’s fifty day moving average price is $86.69 and its 200 day moving average price is $93.66.

Ingersoll Rand (NYSE:IR) last posted its earnings results 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 firm 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%. As a group, sell-side analysts predict 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 issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.10%. The ex-dividend date of this dividend was Wednesday, March 5th. Ingersoll Rand’s payout ratio 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.