Symmetry Investments LP Cuts Stake in Ingersoll Rand Inc. (NYSE:IR)

Symmetry Investments LP cut its holdings in shares of Ingersoll Rand Inc. (NYSE:IRGet Rating) by 71.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 121,071 shares of the industrial products company’s stock after selling 304,052 shares during the period. Ingersoll Rand makes up 2.3% of Symmetry Investments LP’s portfolio, making the stock its 15th biggest position. Symmetry Investments LP’s holdings in Ingersoll Rand were worth $7,491,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Confluence Wealth Services Inc. purchased a new stake in shares of Ingersoll Rand during the fourth quarter valued at $32,000. TD Asset Management Inc. boosted its position in shares of Ingersoll Rand by 75.2% during the fourth quarter. TD Asset Management Inc. now owns 2,748,460 shares of the industrial products company’s stock valued at $170,047,000 after buying an additional 1,179,732 shares during the last quarter. Paradigm Financial Partners LLC purchased a new stake in shares of Ingersoll Rand during the fourth quarter valued at $244,000. Aviva PLC boosted its position in shares of Ingersoll Rand by 9.7% during the fourth quarter. Aviva PLC now owns 135,073 shares of the industrial products company’s stock valued at $8,357,000 after buying an additional 11,928 shares during the last quarter. Finally, Masso Torrence Wealth Management Inc. purchased a new stake in shares of Ingersoll Rand during the fourth quarter valued at $27,000. 97.41% of the stock is currently owned by institutional investors.

Shares of IR opened at $43.65 on Friday. The business’s 50 day moving average is $47.34 and its 200 day moving average is $53.72. The company has a market capitalization of $17.72 billion, a PE ratio of 24.12 and a beta of 1.48. Ingersoll Rand Inc. has a 12-month low of $41.60 and a 12-month high of $62.64. The company has a current ratio of 2.88, a quick ratio of 2.22 and a debt-to-equity ratio of 0.37.

Ingersoll Rand (NYSE:IRGet Rating) last issued its earnings results on Wednesday, May 4th. The industrial products company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.04. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.29 billion. Ingersoll Rand had a return on equity of 9.16% and a net margin of 14.12%. The firm’s quarterly revenue was up 18.4% on a year-over-year basis. During the same quarter last year, the company earned $0.26 EPS. Equities research analysts predict that Ingersoll Rand Inc. will post 2.19 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 22nd. Shareholders of record on Friday, May 20th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.18%. The ex-dividend date of this dividend is Thursday, May 19th. Ingersoll Rand’s dividend payout ratio is presently 4.42%.

Several research analysts have issued reports on the company. Morgan Stanley dropped their target price on Ingersoll Rand from $68.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday, February 25th. Barclays dropped their target price on Ingersoll Rand from $67.00 to $64.00 and set an “overweight” rating on the stock in a research report on Monday, April 4th. Wolfe Research cut Ingersoll Rand from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, April 6th. StockNews.com assumed coverage on Ingersoll Rand in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Credit Suisse Group decreased their price objective on Ingersoll Rand from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, February 25th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ingersoll Rand has an average rating of “Buy” and an average price target of $64.07.

In related news, insider Nicholas J. Kendall-Jones sold 6,000 shares of the business’s stock in a transaction on Wednesday, March 2nd. The stock was sold at an average price of $50.88, for a total transaction of $305,280.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sia Abbaszadeh sold 50,000 shares of the business’s stock in a transaction on Monday, March 7th. The shares were sold at an average price of $45.69, for a total value of $2,284,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 89,105 shares of company stock valued at $4,248,009 in the last 90 days. 0.69% of the stock is currently owned by company insiders.

About Ingersoll Rand (Get Rating)

Ingersoll Rand Inc provides various mission-critical air, fluid, energy, specialty vehicle and medical technologies in the United States, Europe, the Middle East, Africa, and the Asia Pacific. It operates through two segments, Industrial Technologies and Services, and Precision and Science Technologies.

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

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