Massachusetts Financial Services Co. MA Cuts Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

Massachusetts Financial Services Co. MA reduced its stake in Ingersoll Rand Inc. (NYSE:IR) by 27.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,711,743 shares of the industrial products company’s stock after selling 648,217 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.42% of Ingersoll Rand worth $154,844,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Trexquant Investment LP bought a new stake in shares of Ingersoll Rand during the 4th quarter worth $9,372,000. Headlands Technologies LLC lifted its stake in Ingersoll Rand by 165.3% during the fourth quarter. Headlands Technologies LLC now owns 6,983 shares of the industrial products company’s stock worth $632,000 after purchasing an additional 4,351 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Ingersoll Rand by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 9,648,574 shares of the industrial products company’s stock worth $870,503,000 after purchasing an additional 212,107 shares in the last quarter. Nemes Rush Group LLC increased its position in shares of Ingersoll Rand by 206.8% during the 4th quarter. Nemes Rush Group LLC now owns 896 shares of the industrial products company’s stock valued at $81,000 after purchasing an additional 604 shares during the last quarter. Finally, National Bank of Canada FI lifted its position in 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 last quarter. 95.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Wells Fargo & Company lowered their price objective 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. Stifel Nicolaus dropped their price objective on Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating for the company in a report on Tuesday, February 18th. Citigroup decreased their target price on 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 $96.00 to $93.00 and set an “overweight” rating on the stock in a report on Wednesday, March 26th. Finally, Evercore ISI dropped their target price on shares of Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating for the company 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, the company presently has an average rating of “Moderate Buy” and a consensus price target of $105.09.

Ingersoll Rand Stock Performance

Ingersoll Rand stock opened at $69.51 on Friday. Ingersoll Rand Inc. has a twelve month low of $67.19 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. The stock’s 50 day moving average is $85.05 and its 200 day moving average is $93.22. The company has a market capitalization of $28.02 billion, a P/E ratio of 33.74, a PEG ratio of 3.50 and a beta of 1.48.

Ingersoll Rand (NYSE:IR) last issued 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 net margin of 11.59% and a return on equity of 12.78%. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. On average, equities research 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 announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Wednesday, March 5th were given a $0.02 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.08 annualized dividend and a yield of 0.12%. Ingersoll Rand’s payout ratio 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.