Teacher Retirement System of Texas Increases Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

Teacher Retirement System of Texas increased its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 39.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,777 shares of the industrial products company’s stock after purchasing an additional 1,075 shares during the quarter. Teacher Retirement System of Texas’ holdings in Ingersoll Rand were worth $342,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in IR. Public Sector Pension Investment Board boosted its holdings in shares of Ingersoll Rand by 13.6% in the 3rd quarter. Public Sector Pension Investment Board now owns 17,570 shares of the industrial products company’s stock valued at $1,725,000 after purchasing an additional 2,100 shares during the last quarter. Verition Fund Management LLC raised its position in shares of Ingersoll Rand by 108.2% in the 3rd quarter. Verition Fund Management LLC now owns 7,377 shares of the industrial products company’s stock worth $724,000 after buying an additional 3,834 shares during the period. Edgestream Partners L.P. grew its position in Ingersoll Rand by 99.5% during the third quarter. Edgestream Partners L.P. now owns 17,031 shares of the industrial products company’s stock valued at $1,672,000 after acquiring an additional 8,496 shares during the period. Erste Asset Management GmbH purchased a new stake in Ingersoll Rand during the third quarter valued at about $424,000. Finally, Benjamin Edwards Inc. acquired a new stake in Ingersoll Rand during the third quarter worth about $1,133,000. 95.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IR has been the subject of a number of research reports. Wells Fargo & Company decreased their target price on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Stifel Nicolaus decreased their price objective on shares of Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating for the company in a research note on Tuesday, February 18th. Evercore ISI cut their target price on shares of Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 19th. Citigroup decreased their price target on shares of Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Finally, The Goldman Sachs Group raised their price objective on Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Ingersoll Rand currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.09.

Ingersoll Rand Stock Up 0.7 %

Shares of NYSE IR opened at $80.59 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 1 year low of $77.18 and a 1 year high of $106.03. The stock’s 50-day simple moving average is $86.18 and its 200-day simple moving average is $93.59. The firm has a market cap of $32.49 billion, a price-to-earnings ratio of 39.12, a PEG ratio of 3.50 and a beta of 1.48.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings data on Thursday, February 13th. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.04). The business 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%. As a group, equities analysts anticipate that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Wednesday, March 5th were issued a $0.02 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $0.08 annualized dividend and a yield of 0.10%. Ingersoll Rand’s dividend payout ratio is presently 3.88%.

Ingersoll Rand 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.