California Public Employees Retirement System Cuts Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

California Public Employees Retirement System cut its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 7.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 668,042 shares of the industrial products company’s stock after selling 52,700 shares during the quarter. California Public Employees Retirement System owned 0.17% of Ingersoll Rand worth $60,431,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Ingersoll Rand by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 45,684,016 shares of the industrial products company’s stock valued at $4,132,576,000 after purchasing an additional 446,591 shares during the last quarter. JPMorgan Chase & Co. grew its position in Ingersoll Rand by 3.6% during the fourth quarter. JPMorgan Chase & Co. now owns 18,878,280 shares of the industrial products company’s stock valued at $1,707,729,000 after acquiring an additional 649,102 shares during the last quarter. State Street Corp raised its stake in shares of Ingersoll Rand by 0.7% during the third 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 in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Ingersoll Rand by 2.5% in the 3rd quarter. Franklin Resources Inc. now owns 11,597,321 shares of the industrial products company’s stock worth $1,207,554,000 after acquiring 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% in the 3rd 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. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on IR shares. The Goldman Sachs Group lifted their target price on shares of Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Barclays lowered their target price on Ingersoll Rand from $96.00 to $93.00 and set an “overweight” rating for the company in a research note on Wednesday, March 26th. Stifel Nicolaus reduced their price target on Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating on the stock in a research report on Tuesday, February 18th. Robert W. Baird boosted their price objective 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, Citigroup cut 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. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $105.09.

Ingersoll Rand Price Performance

Shares of Ingersoll Rand stock opened at $80.59 on Wednesday. The company has a market cap of $32.49 billion, a PE ratio of 39.12, a P/E/G ratio of 3.50 and a beta of 1.48. The business has a 50 day moving average of $86.18 and a 200 day moving average of $93.59. Ingersoll Rand Inc. has a 52 week low of $77.18 and a 52 week 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 posted its earnings results on Thursday, February 13th. The industrial products company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.04). Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. As a group, equities research analysts forecast that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Wednesday, March 5th were issued 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 (DPR) is 3.88%.

Ingersoll Rand 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.