Geode Capital Management LLC Buys 212,107 Shares of Ingersoll Rand Inc. (NYSE:IR)

Geode Capital Management LLC raised its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 2.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,648,574 shares of the industrial products company’s stock after acquiring an additional 212,107 shares during the quarter. Geode Capital Management LLC owned approximately 2.39% of Ingersoll Rand worth $870,503,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Nemes Rush Group LLC grew its stake in Ingersoll Rand by 206.8% in the fourth quarter. Nemes Rush Group LLC now owns 896 shares of the industrial products company’s stock worth $81,000 after purchasing an additional 604 shares during the period. National Bank of Canada FI grew its position in shares of Ingersoll Rand by 13.1% in the 4th quarter. National Bank of Canada FI now owns 196,662 shares of the industrial products company’s stock worth $17,790,000 after buying an additional 22,794 shares during the period. HighPoint Advisor Group LLC grew its position in shares of Ingersoll Rand by 69.4% in the 4th quarter. HighPoint Advisor Group LLC now owns 5,631 shares of the industrial products company’s stock worth $519,000 after buying an additional 2,306 shares during the period. Franklin Resources Inc. lifted its position in Ingersoll Rand by 5.9% during the 4th quarter. Franklin Resources Inc. now owns 12,277,177 shares of the industrial products company’s stock valued at $1,110,593,000 after acquiring an additional 679,856 shares during the period. Finally, AIA Group Ltd lifted its position in Ingersoll Rand by 20.5% during the 4th quarter. AIA Group Ltd now owns 41,199 shares of the industrial products company’s stock valued at $3,727,000 after acquiring an additional 7,005 shares during the period. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Stock Up 1.4 %

IR opened at $81.75 on Thursday. The stock has a market capitalization of $32.95 billion, a price-to-earnings ratio of 39.68, a PEG ratio of 3.50 and a beta of 1.48. The firm has a 50 day moving average price of $85.93 and a 200-day moving average price of $93.50. Ingersoll Rand Inc. has a twelve month low of $77.18 and a twelve month high of $106.03. The company has a quick ratio of 1.71, a current ratio of 2.29 and a debt-to-equity ratio of 0.46.

Ingersoll Rand (NYSE:IR) last announced its earnings results on Thursday, February 13th. The industrial products company reported $0.81 earnings per share 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 analysts’ expectations of $1.91 billion. Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. Equities research analysts forecast that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.02 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. Ingersoll Rand’s dividend payout ratio is currently 3.88%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on IR. Wells Fargo & Company decreased their target price on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Citigroup lowered their price objective on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Robert W. Baird increased their target price on Ingersoll Rand from $105.00 to $111.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. The Goldman Sachs Group lifted their price target on Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Finally, Evercore ISI cut 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 research report on Wednesday, February 19th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Ingersoll Rand has an average rating of “Moderate Buy” and a consensus target price of $105.09.

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.