Grant Private Wealth Management Inc Acquires New Stake in Ingersoll Rand Inc. (NYSE:IR)

Grant Private Wealth Management Inc acquired a new stake in Ingersoll Rand Inc. (NYSE:IR) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 2,569 shares of the industrial products company’s stock, valued at approximately $232,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Huntington National Bank increased its position in shares of Ingersoll Rand by 8.2% during the fourth quarter. Huntington National Bank now owns 4,084 shares of the industrial products company’s stock worth $369,000 after acquiring an additional 309 shares during the period. Trexquant Investment LP bought a new position in Ingersoll Rand in the fourth quarter worth approximately $9,372,000. Headlands Technologies LLC increased its holdings in Ingersoll Rand by 165.3% during the 4th quarter. Headlands Technologies LLC now owns 6,983 shares of the industrial products company’s stock worth $632,000 after purchasing an additional 4,351 shares during the period. Geode Capital Management LLC raised its position 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 purchasing an additional 212,107 shares in the last quarter. Finally, Nemes Rush Group LLC lifted its holdings in shares of Ingersoll Rand by 206.8% in the 4th quarter. Nemes Rush Group LLC now owns 896 shares of the industrial products company’s stock worth $81,000 after buying an additional 604 shares during the period. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on IR shares. The Goldman Sachs Group raised their price target on Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. 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 report on Wednesday, February 19th. 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. Citigroup cut their price objective on shares of Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Finally, Wells Fargo & Company lowered 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. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $105.09.

Ingersoll Rand Price Performance

NYSE IR opened at $81.75 on Thursday. Ingersoll Rand Inc. has a 12-month low of $77.18 and a 12-month high of $106.03. The firm’s fifty day simple moving average is $85.93 and its two-hundred day simple moving average is $93.50. The company has a current ratio of 2.29, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $32.95 billion, a P/E ratio of 39.68, a P/E/G ratio of 3.50 and a beta of 1.48.

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). Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Analysts forecast that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

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