Xponance Inc. reduces stock position in Ingersoll Rand Inc. (NYSE:IR)

Xponance Inc. has sold its interest in shares of Ingersoll Rand Inc. (NYSE:IR – Free Report) fell 2.9% in the fourth quarter, the company said in its most recent filing with the Securities and Exchange Commission. The fund owned 60,251 shares of the industrial products company after selling 1,773 shares during the period. The interests of Xponance Inc. in Ingersoll Rand were worth $4,660,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also changed their positions in the company. Norges Bank bought a new stake in shares of Ingersoll Rand during the fourth quarter worth $187,291,000. Morgan Stanley increased its holdings in shares of Ingersoll Rand by 65.4% during the fourth quarter. Morgan Stanley now owns 4,701,832 shares of the industrial products company’s stock valued at $245,671,000 after acquiring an additional 1,858,698 shares in the last quarter. Adage Capital Partners GP LLC grew its holdings in shares of Ingersoll Rand by 101.0% in the 3rd quarter. Adage Capital Partners GP LLC now owns 1,700,061 shares of the industrial products company’s stock worth $108,328,000 after acquiring an additional 854,314 shares during the period. Vanguard Group Inc. increased its stake in Ingersoll Rand shares by 1.9% during the first quarter. Vanguard Group Inc. now owns 44,054,298 shares of the industrial products company’s stock valued at $2,218,134,000 after purchasing an additional 823,749 shares during the last quarter. Finally, Prudential Financial Inc. its position in Ingersoll Rand during the first quarter increased by 97.7%. Prudential Financial Inc. now owns 1,270,695 shares of the industrial products company’s stock valued at $63,980,000 after purchasing an additional 628,086 shares during the period. Institutional investors own 95.27% of the company’s shares.

Ingersoll Rand is down 0.6%

Shares of Ingersoll Rand opened at $88.40 on Friday. The company has a current ratio of 2.22, a quick ratio of 1.67 and a debt-to-equity ratio of 0.27. Ingersoll Rand Inc. has a 12-month low of $53.24 and a 12-month high of $96.17. The company has a market cap of $35.66 billion, a price-to-earnings ratio of 46.53, a price-to-earnings ratio of 3.08, and a beta of 1.44. The company has a 50-day moving average of $91.25 and a 200-day moving average of $78.79.

Ingersoll Rand (NYSE:IR – Get Free Report) last reported its quarterly earnings data on Thursday, February 15. The industrial products company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.09. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.76 billion. Ingersoll Rand had a net margin of 11.32% and a return on equity of 12.24%. As a group, research analysts predict that Ingersoll Rand Inc. will post earnings per share of 3.1 for the current year.

Dividend announcement from Ingersoll Rand

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28. Investors of record received a dividend of $0.02 per share on Thursday, March 7. This represents a dividend of $0.08 annually and a dividend yield of 0.09%. The ex-dividend date of this dividend was Wednesday, March 6. Ingersoll Rand’s dividend payout ratio currently stands at 4.21%.

Analysts set new price targets

A number of equity research analysts have commented on IR stocks. Wells Fargo & Company raised their target price on shares of Ingersoll Rand from $83.00 to $100.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 20. Barclays raised their price objective on Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2. Stifel Nicolaus reiterated a “buy” rating and set a $102.00 price target on shares of Ingersoll Rand in a research note on Tuesday, March 26. The Goldman Sachs Group raised their price target on shares of Ingersoll Rand from $87.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, February 21. Finally, Evercore ISI downgraded shares of Ingersoll Rand from an “outperform” rating to an “in-line” rating and raised their price objective for the stock from $81.00 to $89.00 in a report on Tuesday, February 20. Three research analysts have rated the stock with a hold rating and nine 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 $92.73.

Check out our latest research report on Ingersoll Rand

Insider activity at Ingersoll Rand

In other Ingersoll Rand news, CAO Michael J. Scheske sold 7,590 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares sold at an average price of $88.00, for a total transaction of $667,920.00. Following the completion of the sale, the chief accounting officer now directly owns 9,715 shares of the company’s stock, valued at approximately $854,920. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Ingersoll Rand news, CAO Michael J. Scheske sold 7,590 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares sold at an average price of $88.00, for a total value of $667,920.00. Following the sale, the Chief Accounting Officer now owns 9,715 shares of the company’s stock, valued at approximately $854,920. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Andrew R. Schiesl sold 10,421 shares of the company’s stock in a transaction dated Thursday, February 22. The shares sold at an average price of $89.95, for a total value of $937,368.95. Following the transaction, the insider now owns 48,904 shares of the company’s stock, valued at approximately $4,398,914.80. The explanation of this sale can be found here. In the last 90 days, insiders have sold 293,011 shares of the company’s stock, valued at $26,374,789. 0.83% of the shares are owned by company insiders.

Ingersoll Rand profile

(Free report)

Ingersoll Rand Inc provides several mission-critical technologies worldwide for creating air, gas, liquid and solid flows. It operates through two segments: Industrial Technologies and Services, and Precision and Science Technologies. The Industrial Technologies and Services segment designs, manufactures, sells and services air and gas compression, vacuum and fan products; fluid transfer equipment and charging systems; and power tools and lifting equipment, including associated aftermarket parts, consumables, air handling equipment, controls, other accessories and services under the brands Ingersoll Rand, Gardner Denver, Nash, CompAir, Elmo Rietschle, etc.

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