Lake Street Advisors Group LLC Raises Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

Lake Street Advisors Group LLC boosted its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 6.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,273 shares of the industrial products company’s stock after purchasing an additional 141 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Ingersoll Rand were worth $206,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its position in Ingersoll Rand by 8.7% during the third quarter. JPMorgan Chase & Co. now owns 18,229,178 shares of the industrial products company’s stock worth $1,789,376,000 after purchasing an additional 1,462,538 shares in the last quarter. FMR LLC boosted its position in Ingersoll Rand by 10.5% during the third quarter. FMR LLC now owns 16,152,094 shares of the industrial products company’s stock worth $1,585,489,000 after purchasing an additional 1,538,056 shares in the last quarter. State Street Corp boosted its position in Ingersoll Rand by 0.7% during the third quarter. State Street Corp now owns 15,776,908 shares of the industrial products company’s stock worth $1,548,661,000 after purchasing an additional 112,824 shares in the last quarter. Franklin Resources Inc. boosted its position in Ingersoll Rand by 2.5% during the third quarter. Franklin Resources Inc. now owns 11,597,321 shares of the industrial products company’s stock worth $1,207,554,000 after purchasing an additional 278,710 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Ingersoll Rand by 0.6% during the third quarter. Geode Capital Management LLC now owns 9,436,467 shares of the industrial products company’s stock worth $923,087,000 after purchasing an additional 54,952 shares in the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Stock Performance

Shares of Ingersoll Rand stock opened at $84.95 on Friday. The business’s 50 day moving average price is $90.02 and its 200 day moving average price is $94.75. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.29. The company has a market cap of $34.24 billion, a price-to-earnings ratio of 41.24, a PEG ratio of 3.50 and a beta of 1.43. Ingersoll Rand Inc. has a one year low of $81.71 and a one year high of $106.03.

Ingersoll Rand (NYSE:IR) last posted its earnings results on Thursday, February 13th. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.04). The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. On average, research analysts predict that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Wednesday, March 5th. This represents a $0.08 annualized dividend and a yield of 0.09%. Ingersoll Rand’s dividend payout ratio (DPR) is 3.88%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on IR shares. Barclays decreased their target price 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. UBS Group started coverage on Ingersoll Rand in a research report on Wednesday, November 13th. They issued a “buy” rating and a $124.00 target price on the stock. Robert W. Baird raised their target price 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 decreased their target price 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. Finally, Evercore ISI decreased their target price on 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. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $104.75.

Ingersoll Rand Company 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.