Hartford Funds Management Co LLC Boosts Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

Hartford Funds Management Co LLC grew its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 32.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 9,010 shares of the industrial products company’s stock after purchasing an additional 2,215 shares during the quarter. Hartford Funds Management Co LLC’s holdings in Ingersoll Rand were worth $815,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new position in shares of Ingersoll Rand in the 3rd quarter worth about $34,000. UMB Bank n.a. boosted its holdings in shares of Ingersoll Rand by 27.0% in the 4th quarter. UMB Bank n.a. now owns 598 shares of the industrial products company’s stock worth $54,000 after buying an additional 127 shares during the last quarter. Versant Capital Management Inc raised its stake in Ingersoll Rand by 654.4% in the 4th quarter. Versant Capital Management Inc now owns 679 shares of the industrial products company’s stock valued at $61,000 after acquiring an additional 589 shares during the period. Venturi Wealth Management LLC bought a new stake in Ingersoll Rand in the 4th quarter valued at about $99,000. Finally, WASHINGTON TRUST Co raised its stake in Ingersoll Rand by 18.5% in the 4th quarter. WASHINGTON TRUST Co now owns 1,136 shares of the industrial products company’s stock valued at $103,000 after acquiring an additional 177 shares during the period. 95.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IR has been the topic of a number of research reports. UBS Group initiated coverage on Ingersoll Rand in a research note on Wednesday, November 13th. They issued a “buy” rating and a $124.00 price objective on the stock. Evercore ISI lowered their price objective on 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. Barclays decreased their price target on Ingersoll Rand from $115.00 to $102.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 18th. Citigroup decreased their price target on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Finally, Wells Fargo & Company decreased their price target on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $104.75.

Ingersoll Rand Stock Up 0.4 %

Shares of NYSE:IR opened at $84.78 on Friday. The firm has a market capitalization of $34.17 billion, a PE ratio of 41.16, a price-to-earnings-growth ratio of 3.50 and a beta of 1.43. 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 52-week low of $79.96 and a 52-week high of $106.03. The firm has a fifty day moving average of $89.31 and a 200 day moving average of $94.53.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings data on Thursday, February 13th. The industrial products company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.04). The firm 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, research analysts anticipate that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Wednesday, March 5th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. The ex-dividend date is Wednesday, March 5th. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.88%.

About Ingersoll Rand

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.