Janus Henderson Group PLC Boosts Stake in Ingersoll Rand Inc. $IR

Janus Henderson Group PLC raised its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 2.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,576,720 shares of the industrial products company’s stock after buying an additional 146,450 shares during the quarter. Janus Henderson Group PLC owned about 1.68% of Ingersoll Rand worth $526,926,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in IR. Norges Bank bought a new position in shares of Ingersoll Rand during the 4th quarter valued at approximately $407,915,000. T. Rowe Price Investment Management Inc. grew its holdings in shares of Ingersoll Rand by 18.6% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 21,791,309 shares of the industrial products company’s stock valued at $1,726,308,000 after purchasing an additional 3,423,501 shares in the last quarter. Capital International Investors increased its position in Ingersoll Rand by 4.7% in the fourth quarter. Capital International Investors now owns 52,353,914 shares of the industrial products company’s stock worth $4,147,878,000 after purchasing an additional 2,351,781 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Ingersoll Rand in the fourth quarter worth $149,297,000. Finally, Swedbank AB raised its stake in Ingersoll Rand by 72.4% during the fourth quarter. Swedbank AB now owns 3,878,349 shares of the industrial products company’s stock valued at $307,243,000 after purchasing an additional 1,628,996 shares in the last quarter. Institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Stock Down 2.2%

Shares of IR opened at $84.62 on Thursday. The company has a quick ratio of 1.59, a current ratio of 2.23 and a debt-to-equity ratio of 0.47. The business has a fifty day moving average of $77.50 and a 200 day moving average of $82.69. The company has a market cap of $33.12 billion, a PE ratio of 57.18, a P/E/G ratio of 5.47 and a beta of 1.17. Ingersoll Rand Inc. has a 52-week low of $68.07 and a 52-week high of $100.96.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. The business had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Ingersoll Rand had a net margin of 7.54% and a return on equity of 12.79%. The business’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.72 earnings per share. On average, sell-side analysts expect that Ingersoll Rand Inc. will post 3.37 EPS for the current year.

Ingersoll Rand Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 13th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.1%. The ex-dividend date is Thursday, August 13th. Ingersoll Rand’s dividend payout ratio is presently 5.41%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on IR shares. Stifel Nicolaus lowered their price objective on shares of Ingersoll Rand from $85.00 to $84.00 and set a “hold” rating for the company in a research report on Monday, July 20th. Morgan Stanley reduced their target price on shares of Ingersoll Rand from $92.00 to $80.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 3rd. Evercore set a $84.00 target price on shares of Ingersoll Rand in a research report on Monday, May 11th. Wall Street Zen raised shares of Ingersoll Rand from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. Finally, Barclays dropped their price target on Ingersoll Rand from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $91.86.

Ingersoll Rand Company Profile

Ingersoll Rand is a diversified industrial company that designs, manufactures and services a wide range of equipment and technologies for commercial, industrial and OEM customers. Its product portfolio includes air compressors and compressed air systems, pneumatic and cordless power tools, material handling and lifting equipment, fluid transfer and pumping solutions, and associated aftermarket parts and service offerings. The company’s products support applications across manufacturing, construction, transportation, oil and gas, mining and general industrial markets.

Ingersoll Rand sells through a combination of direct sales, distributor networks and service channels, delivering both capital equipment and recurring aftermarket revenue from parts, maintenance and service contracts.