Caisse Des Depots ET Consignations Takes Position in Ingersoll Rand Inc. (NYSE:IR)

Caisse Des Depots ET Consignations acquired a new stake in Ingersoll Rand Inc. (NYSE:IR) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 528,002 shares of the industrial products company’s stock, valued at approximately $47,763,000. Ingersoll Rand accounts for about 2.3% of Caisse Des Depots ET Consignations’ investment portfolio, making the stock its 10th largest holding. Caisse Des Depots ET Consignations owned about 0.13% of Ingersoll Rand as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently modified their holdings of IR. Savant Capital LLC grew its holdings in shares of Ingersoll Rand by 2.3% in the 4th quarter. Savant Capital LLC now owns 6,938 shares of the industrial products company’s stock worth $628,000 after acquiring an additional 158 shares during the period. Virtu Financial LLC acquired a new stake in Ingersoll Rand in the 3rd quarter valued at about $864,000. Nordea Investment Management AB raised its position in Ingersoll Rand by 19.1% during the fourth quarter. Nordea Investment Management AB now owns 1,691,399 shares of the industrial products company’s stock worth $153,867,000 after acquiring an additional 271,381 shares during the last quarter. abrdn plc grew its position in shares of Ingersoll Rand by 70.5% in the fourth quarter. abrdn plc now owns 262,863 shares of the industrial products company’s stock valued at $23,851,000 after purchasing an additional 108,700 shares during the last quarter. Finally, AdvisorNet Financial Inc increased its stake in shares of Ingersoll Rand by 441.4% during the 4th quarter. AdvisorNet Financial Inc now owns 18,652 shares of the industrial products company’s stock worth $1,687,000 after purchasing an additional 15,207 shares in the last quarter. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Evercore ISI lowered their target price on Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Citigroup cut their target price on shares of Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Wells Fargo & Company lowered their price target on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Barclays reduced their price objective on shares of Ingersoll Rand from $96.00 to $93.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Robert W. Baird upped their price target on shares of Ingersoll Rand from $105.00 to $111.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $105.09.

Ingersoll Rand Price Performance

NYSE IR opened at $81.37 on Thursday. The company has a quick ratio of 1.71, a current ratio of 2.29 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $32.80 billion, a PE ratio of 39.50, a price-to-earnings-growth ratio of 3.50 and a beta of 1.48. Ingersoll Rand Inc. has a 12-month low of $79.79 and a 12-month high of $106.03. The company has a 50 day moving average price of $87.12 and a two-hundred day moving average price of $93.80.

Ingersoll Rand (NYSE:IR) last announced its earnings results on Thursday, February 13th. The industrial products company reported $0.81 earnings per share 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 the consensus estimate of $1.91 billion. Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. As a group, equities analysts predict that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.10%. The ex-dividend date of this dividend is Wednesday, March 5th. Ingersoll Rand’s 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.