Daiwa Securities Group Inc. Has $12.24 Million Position in Ingersoll Rand Inc. (NYSE:IR)

Daiwa Securities Group Inc. boosted its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 49.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 135,292 shares of the industrial products company’s stock after buying an additional 44,465 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Ingersoll Rand were worth $12,238,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Main Street Research LLC lifted its holdings in Ingersoll Rand by 2.3% during the 4th quarter. Main Street Research LLC now owns 365,501 shares of the industrial products company’s stock worth $33,063,000 after buying an additional 8,352 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Ingersoll Rand by 3.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 192,151 shares of the industrial products company’s stock worth $17,382,000 after buying an additional 6,195 shares during the period. OFI Invest Asset Management acquired a new position in Ingersoll Rand during the 4th quarter worth about $38,000. Amundi lifted its holdings in Ingersoll Rand by 17.0% during the 4th quarter. Amundi now owns 2,162,728 shares of the industrial products company’s stock worth $192,980,000 after buying an additional 313,674 shares during the period. Finally, Banco Santander S.A. lifted its holdings in Ingersoll Rand by 17.4% during the 4th quarter. Banco Santander S.A. now owns 7,438 shares of the industrial products company’s stock worth $673,000 after buying an additional 1,101 shares during the period. 95.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. The Goldman Sachs Group boosted their price objective on Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Stifel Nicolaus decreased their price objective on Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating for the company in a report on Tuesday, February 18th. UBS Group initiated coverage on Ingersoll Rand in a report on Wednesday, November 13th. They set a “buy” rating and a $124.00 price objective for the company. Robert W. Baird boosted their price objective on Ingersoll Rand from $105.00 to $111.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Finally, Wells Fargo & Company cut their target price on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $104.25.

Ingersoll Rand Price Performance

Ingersoll Rand stock opened at $83.52 on Tuesday. Ingersoll Rand Inc. has a 12 month low of $79.97 and a 12 month high of $106.03. 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 business’s 50 day simple moving average is $89.04 and its 200 day simple moving average is $94.50. The company has a market cap of $33.67 billion, a price-to-earnings ratio of 40.54, a PEG ratio of 3.50 and a beta of 1.48.

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

Ingersoll Rand Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Wednesday, March 5th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.08 annualized dividend and a dividend yield of 0.10%. Ingersoll Rand’s payout ratio is currently 3.88%.

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.