Alliancebernstein L.P. Cuts Holdings in Ingersoll Rand Inc. (NYSE:IR)

Alliancebernstein L.P. reduced its position in Ingersoll Rand Inc. (NYSE:IR) by 2.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,447,858 shares of the industrial products company’s stock after selling 72,221 shares during the quarter. Alliancebernstein L.P.’s holdings in Ingersoll Rand were worth $173,807,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of IR. AdvisorNet Financial Inc acquired a new stake in Ingersoll Rand in the 3rd quarter valued at $27,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Ingersoll Rand in the 3rd quarter valued at $27,000. NEXT Financial Group Inc increased its holdings in Ingersoll Rand by 54.3% in the 3rd quarter. NEXT Financial Group Inc now owns 608 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 214 shares in the last quarter. Advisory Services Network LLC acquired a new stake in shares of Ingersoll Rand during the second quarter valued at about $39,000. Finally, Maverick Capital Ltd. acquired a new stake in shares of Ingersoll Rand during the second quarter valued at about $40,000. 95.86% of the stock is currently owned by institutional investors and hedge funds.

NYSE IR opened at $59.36 on Friday. Ingersoll Rand Inc. has a twelve month low of $40.64 and a twelve month high of $62.64. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.94 and a current ratio of 2.47. The stock has a market cap of $24.19 billion, a price-to-earnings ratio of 59.36 and a beta of 1.47. The firm’s 50 day moving average price is $59.61 and its two-hundred day moving average price is $54.29.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings data on Wednesday, November 3rd. The industrial products company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.10. Ingersoll Rand had a net margin of 7.68% and a return on equity of 7.11%. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same period in the previous year, the company posted $0.07 EPS. The company’s quarterly revenue was up 19.1% compared to the same quarter last year. On average, research analysts forecast that Ingersoll Rand Inc. will post 1.85 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, December 17th. Shareholders of record on Wednesday, November 10th were paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date was Tuesday, November 9th. Ingersoll Rand’s dividend payout ratio (DPR) is currently 8.00%.

In other Ingersoll Rand news, insider Sia Abbaszadeh sold 5,000 shares of Ingersoll Rand stock in a transaction on Monday, November 15th. The shares were sold at an average price of $58.59, for a total transaction of $292,950.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael J. Scheske sold 6,972 shares of Ingersoll Rand stock in a transaction on Thursday, December 9th. The shares were sold at an average price of $59.98, for a total transaction of $418,180.56. The disclosure for this sale can be found here. Company insiders own 0.69% of the company’s stock.

A number of equities research analysts have recently weighed in on IR shares. Credit Suisse Group lifted their price target on Ingersoll Rand from $59.00 to $62.00 and gave the company a “neutral” rating in a report on Friday, November 19th. Wells Fargo & Company raised Ingersoll Rand from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $58.00 to $68.00 in a report on Friday, November 19th. Vertical Research began coverage on Ingersoll Rand in a report on Friday, October 8th. They set a “hold” rating and a $54.00 target price on the stock. Zacks Investment Research cut Ingersoll Rand from a “strong-buy” rating to a “hold” rating and set a $54.00 target price on the stock. in a report on Thursday, September 30th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Ingersoll Rand from $67.00 to $66.00 and set a “buy” rating on the stock in a report on Friday, December 10th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $65.57.

About Ingersoll Rand

Ingersoll Rand, Inc provides a broad range of mission critical air, fluid, energy, specialty vehicle and medical technologies, providing services and solutions to increase industrial productivity and efficiency. It operates through the following segments: Industrial Technologies and Services, Precision and Science Technologies, High Pressure Solutions, and Specialty Vehicle Technologies.

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Institutional Ownership by Quarter for Ingersoll Rand (NYSE:IR)

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