Ingersoll Rand Inc. (NYSE:IR) Shares Acquired by Main Street Research LLC

Main Street Research LLC boosted its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 2.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 365,501 shares of the industrial products company’s stock after purchasing an additional 8,352 shares during the period. Ingersoll Rand makes up 2.1% of Main Street Research LLC’s portfolio, making the stock its 24th biggest position. Main Street Research LLC owned 0.09% of Ingersoll Rand worth $33,063,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in IR. Ashton Thomas Securities LLC acquired a new stake in shares of Ingersoll Rand during the third quarter worth approximately $34,000. OFI Invest Asset Management bought a new position in Ingersoll Rand during the 4th quarter valued at $38,000. UMB Bank n.a. grew its holdings in Ingersoll Rand by 27.0% during the 4th quarter. UMB Bank n.a. now owns 598 shares of the industrial products company’s stock worth $54,000 after acquiring an additional 127 shares in the last quarter. Versant Capital Management Inc increased its position in shares of Ingersoll Rand by 654.4% in the 4th quarter. Versant Capital Management Inc now owns 679 shares of the industrial products company’s stock worth $61,000 after purchasing an additional 589 shares during the last quarter. Finally, Venturi Wealth Management LLC acquired a new stake in shares of Ingersoll Rand in the 4th quarter valued at about $99,000. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Price Performance

NYSE IR opened at $85.27 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.29 and a quick ratio of 1.71. Ingersoll Rand Inc. has a 52-week low of $79.96 and a 52-week high of $106.03. The company has a 50 day simple moving average of $89.18 and a 200-day simple moving average of $94.54. The firm has a market capitalization of $34.37 billion, a price-to-earnings ratio of 41.39, a price-to-earnings-growth ratio of 3.50 and a beta of 1.48.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings data 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). Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. Equities research analysts predict that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Wednesday, March 5th will be issued 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 of this dividend is Wednesday, March 5th. Ingersoll Rand’s payout ratio is presently 3.88%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Wells Fargo & Company lowered their price objective on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Barclays lowered their price target on Ingersoll Rand from $115.00 to $102.00 and set an “overweight” rating for the company in a report on Tuesday, February 18th. UBS Group started coverage on Ingersoll Rand in a research note on Wednesday, November 13th. They set a “buy” rating and a $124.00 price objective on the stock. Stifel Nicolaus lowered their target price on shares of Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating for the company in a research note on Tuesday, February 18th. Finally, Evercore ISI dropped 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 report on Wednesday, February 19th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Ingersoll Rand has an average rating of “Moderate Buy” and a consensus price target of $104.75.

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.