New Mexico Educational Retirement Board Lowers Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

New Mexico Educational Retirement Board reduced its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 2.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 19,204 shares of the industrial products company’s stock after selling 500 shares during the period. New Mexico Educational Retirement Board’s holdings in Ingersoll Rand were worth $1,737,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ashton Thomas Securities LLC purchased a new position in shares of Ingersoll Rand during the third quarter worth $34,000. Eastern Bank purchased a new position in Ingersoll Rand in the third quarter valued at $42,000. UMB Bank n.a. boosted its holdings in 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 purchasing an additional 127 shares during the period. Princeton Global Asset Management LLC purchased a new position in Ingersoll Rand in the third quarter valued at $65,000. Finally, Versant Capital Management Inc boosted its holdings in Ingersoll Rand by 654.4% in the fourth quarter. Versant Capital Management Inc now owns 679 shares of the industrial products company’s stock valued at $61,000 after purchasing an additional 589 shares during the period. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on IR. The Goldman Sachs Group lifted their target price on Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Barclays decreased their target price on Ingersoll Rand from $120.00 to $115.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Stifel Nicolaus decreased their target price on Ingersoll Rand from $107.00 to $100.00 and set a “hold” rating for the company in a report on Friday, January 24th. Robert W. Baird cut their price target on Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Finally, UBS Group began coverage on Ingersoll Rand in a research note on Wednesday, November 13th. They issued a “buy” rating and a $124.00 price target on the stock. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $105.92.

Ingersoll Rand Stock Performance

Shares of IR opened at $85.79 on Monday. The company’s 50 day simple moving average is $92.75 and its 200-day simple moving average is $95.16. Ingersoll Rand Inc. has a 12-month low of $83.72 and a 12-month high of $106.03. The firm has a market cap of $34.58 billion, a PE ratio of 41.85, a price-to-earnings-growth ratio of 3.66 and a beta of 1.43. 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 (NYSE:IR) last posted its quarterly earnings data 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). Ingersoll Rand had a net margin of 11.72% and a return on equity of 13.01%. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. As a group, equities analysts predict that Ingersoll Rand Inc. will post 3.2 EPS for the current year.

Ingersoll Rand Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders 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 dividend yield of 0.09%. Ingersoll Rand’s dividend payout ratio (DPR) is 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.