Sterling Capital Management LLC Raises Stake in Ingersoll Rand Inc. (NYSE:IR)

Sterling Capital Management LLC increased its stake in Ingersoll Rand Inc. (NYSE:IR) by 52.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,826 shares of the industrial products company’s stock after purchasing an additional 8,575 shares during the quarter. Sterling Capital Management LLC’s holdings in Ingersoll Rand were worth $2,246,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in IR. Murphy & Mullick Capital Management Corp acquired a new stake in Ingersoll Rand in the fourth quarter valued at $36,000. OFI Invest Asset Management purchased a new stake in shares of Ingersoll Rand in the 4th quarter worth about $38,000. Lee Danner & Bass Inc. acquired a new stake in Ingersoll Rand in the 4th quarter valued at about $42,000. Millstone Evans Group LLC acquired a new position in Ingersoll Rand during the fourth quarter worth about $50,000. Finally, UMB Bank n.a. lifted its holdings in shares of Ingersoll Rand by 27.0% in the fourth quarter. UMB Bank n.a. now owns 598 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 127 shares in the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Wells Fargo & Company cut their price objective on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Citigroup decreased their price objective on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Barclays dropped their target price on Ingersoll Rand from $93.00 to $85.00 and set an “overweight” rating for the company in a research note on Thursday. Stifel Nicolaus cut their price objective on Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating on the stock in a report on Tuesday, February 18th. Finally, Robert W. Baird increased their target price on Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Ingersoll Rand presently has an average rating of “Moderate Buy” and an average price target of $104.36.

Ingersoll Rand Price Performance

Shares of IR opened at $73.11 on Monday. 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 twelve month low of $65.61 and a twelve month high of $106.03. The stock has a market capitalization of $29.47 billion, a P/E ratio of 35.49, a P/E/G ratio of 3.50 and a beta of 1.40. The company has a 50 day moving average of $81.94 and a 200-day moving average of $91.93.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings data on Thursday, February 13th. The industrial products company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. As a group, equities research analysts forecast that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Wednesday, March 5th were given a dividend of $0.02 per share. The ex-dividend date was Wednesday, March 5th. This represents a $0.08 dividend on an annualized basis and a yield of 0.11%. Ingersoll Rand’s dividend 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.