Nissay Asset Management Corp Japan ADV decreased its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 2.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,556 shares of the industrial products company’s stock after selling 782 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Ingersoll Rand were worth $1,750,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of the company. AE Wealth Management LLC boosted its stake in Ingersoll Rand by 7.6% during the 4th quarter. AE Wealth Management LLC now owns 14,272 shares of the industrial products company’s stock worth $650,000 after acquiring an additional 1,002 shares during the last quarter. California Public Employees Retirement System boosted its stake in Ingersoll Rand by 13.6% during the 4th quarter. California Public Employees Retirement System now owns 824,283 shares of the industrial products company’s stock worth $37,554,000 after acquiring an additional 98,999 shares during the last quarter. Treasurer of the State of North Carolina boosted its stake in Ingersoll Rand by 0.3% during the 4th quarter. Treasurer of the State of North Carolina now owns 133,227 shares of the industrial products company’s stock worth $6,070,000 after acquiring an additional 460 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in Ingersoll Rand during the 4th quarter worth approximately $224,000. Finally, Maryland State Retirement & Pension System bought a new position in Ingersoll Rand during the 4th quarter worth approximately $234,000. Institutional investors own 93.03% of the company’s stock.
Several research analysts recently weighed in on IR shares. Morgan Stanley lifted their price objective on shares of Ingersoll Rand from $57.00 to $59.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 19th. Evercore ISI lifted their price target on shares of Ingersoll Rand from $48.00 to $53.00 in a research note on Wednesday, May 12th. Deutsche Bank Aktiengesellschaft raised shares of Ingersoll Rand from a “hold” rating to a “buy” rating and lifted their price target for the company from $50.00 to $54.00 in a research note on Tuesday, May 25th. Barclays lifted their price target on shares of Ingersoll Rand from $53.00 to $56.00 and gave the company an “overweight” rating in a research note on Tuesday, April 6th. Finally, Credit Suisse Group lifted their price target on shares of Ingersoll Rand from $46.00 to $50.00 and gave the company a “neutral” rating in a research note on Tuesday, March 2nd. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $56.23.
Shares of IR stock opened at $47.36 on Friday. The stock has a fifty day simple moving average of $49.52. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.16 and a current ratio of 2.70. The company has a market capitalization of $19.87 billion, a price-to-earnings ratio of -225.52 and a beta of 1.52. Ingersoll Rand Inc. has a 12 month low of $26.72 and a 12 month high of $52.12.
Ingersoll Rand (NYSE:IR) last issued its earnings results on Wednesday, April 28th. The industrial products company reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.54. The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.30 billion. Ingersoll Rand had a negative net margin of 1.59% and a positive return on equity of 1.29%. The firm’s revenue for the quarter was up 94.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.25 earnings per share. As a group, equities analysts predict that Ingersoll Rand Inc. will post 0.1 EPS for the current year.
About Ingersoll Rand
Ingersoll Rand Inc provides various mission-critical air, fluid, energy, specialty vehicle and medical technologies in the United States, Europe, the Middle East, Africa, and the Asia Pacific. It operates through four segments: Industrial Technologies and Services; Precision and Science Technologies; Specialty Vehicle Technologies; and High Pressure Solutions segments.
Recommended Story: Penny Stocks
Want to see what other hedge funds are holding IR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ingersoll Rand Inc. (NYSE:IR).
Receive News & Ratings for Ingersoll Rand Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ingersoll Rand and related companies with MarketBeat.com's FREE daily email newsletter.