Concurrent Investment Advisors LLC Sells 794 Shares of Ingersoll Rand Inc. (NYSE:IR)

Concurrent Investment Advisors LLC lessened its stake in Ingersoll Rand Inc. (NYSE:IR) by 22.8% during the fourth quarter, HoldingsChannel reports. The firm owned 2,681 shares of the industrial products company’s stock after selling 794 shares during the period. Concurrent Investment Advisors LLC’s holdings in Ingersoll Rand were worth $243,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Private Advisor Group LLC increased its stake in shares of Ingersoll Rand by 4.6% in the third quarter. Private Advisor Group LLC now owns 7,501 shares of the industrial products company’s stock worth $736,000 after purchasing an additional 327 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Ingersoll Rand by 13.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 14,964 shares of the industrial products company’s stock worth $1,469,000 after buying an additional 1,732 shares during the period. Allworth Financial LP grew its stake in Ingersoll Rand by 6.9% in the 3rd quarter. Allworth Financial LP now owns 3,404 shares of the industrial products company’s stock valued at $334,000 after buying an additional 220 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Ingersoll Rand by 22.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 33,368 shares of the industrial products company’s stock valued at $3,273,000 after acquiring an additional 6,122 shares during the period. Finally, Nisa Investment Advisors LLC lifted its position in shares of Ingersoll Rand by 1.0% during the third quarter. Nisa Investment Advisors LLC now owns 107,908 shares of the industrial products company’s stock worth $10,592,000 after acquiring an additional 1,020 shares in the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Stock Performance

NYSE:IR opened at $83.38 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.29. Ingersoll Rand Inc. has a fifty-two week low of $81.71 and a fifty-two week high of $106.03. The firm has a market cap of $33.61 billion, a PE ratio of 40.47, a price-to-earnings-growth ratio of 3.50 and a beta of 1.43. The business has a 50 day moving average price of $90.53 and a 200-day moving average price of $94.93.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings results on Thursday, February 13th. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. Equities research analysts predict that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Wednesday, March 5th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.10%. The ex-dividend date of this dividend is Wednesday, March 5th. Ingersoll Rand’s dividend payout ratio (DPR) is currently 3.88%.

Analyst Ratings Changes

IR has been the subject of several recent research reports. Wells Fargo & Company reduced their price target on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Evercore ISI reduced their target price on Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. The Goldman Sachs Group increased their price target on shares of Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Robert W. Baird raised their price objective on shares of Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Finally, Barclays decreased their target price on shares of Ingersoll Rand from $115.00 to $102.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $104.75.

Ingersoll Rand Company 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.