Concurrent Investment Advisors LLC Has $243,000 Stock Position in Ingersoll Rand Inc. (NYSE:IR)

Concurrent Investment Advisors LLC lessened its holdings in Ingersoll Rand Inc. (NYSE:IR) by 22.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,681 shares of the industrial products company’s stock after selling 794 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Ingersoll Rand were worth $243,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. JPMorgan Chase & Co. lifted its stake in Ingersoll Rand by 8.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 18,229,178 shares of the industrial products company’s stock valued at $1,789,376,000 after purchasing an additional 1,462,538 shares during the last quarter. FMR LLC boosted its holdings in shares of Ingersoll Rand by 10.5% during the 3rd quarter. FMR LLC now owns 16,152,094 shares of the industrial products company’s stock valued at $1,585,489,000 after acquiring an additional 1,538,056 shares in the last quarter. State Street Corp grew its position in Ingersoll Rand by 0.7% during the 3rd quarter. State Street Corp now owns 15,776,908 shares of the industrial products company’s stock worth $1,548,661,000 after acquiring an additional 112,824 shares during the last quarter. Franklin Resources Inc. raised its position in Ingersoll Rand by 2.5% in the third quarter. Franklin Resources Inc. now owns 11,597,321 shares of the industrial products company’s stock valued at $1,207,554,000 after purchasing an additional 278,710 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Ingersoll Rand by 0.6% during the third quarter. Geode Capital Management LLC now owns 9,436,467 shares of the industrial products company’s stock valued at $923,087,000 after purchasing an additional 54,952 shares in the last quarter. Institutional investors own 95.27% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on IR. Citigroup dropped their price objective on shares of Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a report on Monday, January 13th. Barclays cut their price target on shares of Ingersoll Rand from $115.00 to $102.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. 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 report on Tuesday, January 7th. Robert W. Baird upped their price target on 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 decreased their price target on Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $104.75.

Ingersoll Rand Trading Up 0.5 %

Shares of Ingersoll Rand stock opened at $83.38 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.29. Ingersoll Rand Inc. has a 52 week low of $81.71 and a 52 week high of $106.03. The stock has a 50 day moving average price of $90.53 and a two-hundred day moving average price of $94.93. The stock has a market capitalization of $33.61 billion, a PE ratio of 40.47, a price-to-earnings-growth ratio of 3.50 and a beta of 1.43.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings data 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). The business 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, equities analysts anticipate that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Wednesday, March 5th will be given 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 0.10%. Ingersoll Rand’s payout ratio is 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.