Commonwealth Equity Services LLC Increases Stock Position in Ingersoll Rand Inc. (NYSE:IR)

Commonwealth Equity Services LLC lifted its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 2.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,972 shares of the industrial products company’s stock after buying an additional 602 shares during the period. Commonwealth Equity Services LLC’s holdings in Ingersoll Rand were worth $2,711,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Savant Capital LLC grew its position in Ingersoll Rand by 2.3% during the fourth quarter. Savant Capital LLC now owns 6,938 shares of the industrial products company’s stock worth $628,000 after buying an additional 158 shares during the period. Virtu Financial LLC purchased a new stake in shares of Ingersoll Rand during the 3rd quarter worth approximately $864,000. Nordea Investment Management AB grew its holdings in shares of Ingersoll Rand by 19.1% in the 4th 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 period. abrdn plc increased its stake in Ingersoll Rand by 70.5% in the 4th 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 in the last quarter. Finally, AdvisorNet Financial Inc raised its holdings in Ingersoll Rand by 441.4% during the fourth 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 during the last quarter. 95.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on IR. Robert W. Baird raised their price target on Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Wells Fargo & Company cut their target price on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Stifel Nicolaus lowered their price target on shares of Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating on the stock in a research report on Tuesday, February 18th. Evercore ISI cut their price objective on Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating for the company in a research report on Wednesday, February 19th. Finally, The Goldman Sachs Group increased their target price on Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Ingersoll Rand has a consensus rating of “Moderate Buy” and a consensus target price of $105.09.

Ingersoll Rand Price Performance

IR stock opened at $81.37 on Thursday. The stock has a market capitalization of $32.80 billion, a price-to-earnings ratio of 39.50, a price-to-earnings-growth ratio of 3.50 and a beta of 1.48. The company has a quick ratio of 1.71, a current ratio of 2.29 and a debt-to-equity ratio of 0.46. Ingersoll Rand Inc. has a 52-week low of $79.79 and a 52-week high of $106.03. The stock’s fifty day simple moving average is $87.12 and its 200-day simple moving average is $93.80.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings results on Thursday, February 13th. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.91 billion. Equities research analysts expect that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Wednesday, March 5th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.10%. The ex-dividend date of this dividend is Wednesday, March 5th. Ingersoll Rand’s dividend payout ratio (DPR) is 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.