JPMorgan Chase & Co. Purchases 649,102 Shares of Ingersoll Rand Inc. (NYSE:IR)

JPMorgan Chase & Co. lifted its holdings in Ingersoll Rand Inc. (NYSE:IR) by 3.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 18,878,280 shares of the industrial products company’s stock after purchasing an additional 649,102 shares during the period. JPMorgan Chase & Co. owned about 4.68% of Ingersoll Rand worth $1,707,729,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Elo Mutual Pension Insurance Co lifted its position in Ingersoll Rand by 8.3% during the fourth quarter. Elo Mutual Pension Insurance Co now owns 38,550 shares of the industrial products company’s stock valued at $3,487,000 after purchasing an additional 2,938 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Ingersoll Rand by 6.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 634,787 shares of the industrial products company’s stock valued at $58,711,000 after buying an additional 37,361 shares in the last quarter. Murphy & Mullick Capital Management Corp bought a new position in shares of Ingersoll Rand during the 4th quarter valued at approximately $36,000. United Services Automobile Association purchased a new stake in Ingersoll Rand in the 4th quarter worth approximately $922,000. Finally, Vanguard Group Inc. raised its stake in Ingersoll Rand by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 45,684,016 shares of the industrial products company’s stock worth $4,132,576,000 after acquiring an additional 446,591 shares during the period. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on IR shares. Stifel Nicolaus reduced their price objective 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. 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 report on Tuesday, February 18th. Citigroup dropped their price objective on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Barclays decreased their target price on Ingersoll Rand from $96.00 to $93.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Wells Fargo & Company dropped their price target on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $105.09.

Ingersoll Rand Stock Down 0.0 %

Shares of IR opened at $81.37 on Friday. The business’s 50 day simple moving average is $86.94 and its 200-day simple moving average is $93.72. Ingersoll Rand Inc. has a 1 year low of $79.79 and a 1 year high of $106.03. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.29 and a quick ratio of 1.71. 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.

Ingersoll Rand (NYSE:IR) last released 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). Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. As a group, equities analysts expect that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.02 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.08 annualized dividend and a yield of 0.10%. Ingersoll Rand’s payout ratio is currently 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.