Massachusetts Financial Services Co. MA Lowers Stake in Ingersoll Rand Inc. (NYSE:IR)

Massachusetts Financial Services Co. MA cut its position in Ingersoll Rand Inc. (NYSE:IR) by 27.5% in the fourth quarter, according to the company in its most recent disclosure 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 period. Massachusetts Financial Services Co. MA’s holdings in Ingersoll Rand were worth $154,844,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Ingersoll Rand by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 45,684,016 shares of the industrial products company’s stock valued at $4,132,576,000 after acquiring an additional 446,591 shares during the period. JPMorgan Chase & Co. grew its position in shares of Ingersoll Rand by 3.6% during the fourth quarter. JPMorgan Chase & Co. now owns 18,878,280 shares of the industrial products company’s stock worth $1,707,729,000 after purchasing an additional 649,102 shares in the last quarter. State Street Corp lifted its holdings in Ingersoll Rand by 0.7% in the 3rd quarter. State Street Corp now owns 15,776,908 shares of the industrial products company’s stock worth $1,548,661,000 after purchasing an additional 112,824 shares in the last quarter. Franklin Resources Inc. boosted its stake in Ingersoll Rand by 5.9% in the 4th quarter. Franklin Resources Inc. now owns 12,277,177 shares of the industrial products company’s stock worth $1,110,593,000 after purchasing an additional 679,856 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Ingersoll Rand by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 9,648,574 shares of the industrial products company’s stock valued at $870,503,000 after buying an additional 212,107 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on IR. Stifel Nicolaus dropped their target price on shares of Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating for the company in a research report on Tuesday, February 18th. Robert W. Baird raised their price objective on Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. The Goldman Sachs Group boosted their target price on Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Barclays cut their price target on Ingersoll Rand from $96.00 to $93.00 and set an “overweight” rating for the company in a report on Wednesday, March 26th. Finally, Wells Fargo & Company decreased their price objective on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.09.

Ingersoll Rand Price Performance

Shares of Ingersoll Rand stock opened at $69.51 on Friday. The stock has a 50 day moving average price of $85.05 and a 200-day moving average price of $93.22. Ingersoll Rand Inc. has a one year low of $67.19 and a one year high of $106.03. The stock has a market cap of $28.02 billion, a price-to-earnings ratio of 33.74, a price-to-earnings-growth ratio of 3.50 and a beta of 1.48. 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 (NYSE:IR) last posted its quarterly earnings data 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). The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. Equities analysts expect that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Wednesday, March 5th were paid a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.12%. The ex-dividend date was Wednesday, March 5th. Ingersoll Rand’s payout ratio is currently 3.88%.

About Ingersoll Rand

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.