Miller Financial Services LLC Acquires Shares of 5,954 Ingersoll Rand Inc. (NYSE:IR)

Miller Financial Services LLC acquired a new stake in shares of Ingersoll Rand Inc. (NYSE:IR) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 5,954 shares of the industrial products company’s stock, valued at approximately $539,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Independent Advisor Alliance raised its stake in Ingersoll Rand by 16.7% during the 4th quarter. Independent Advisor Alliance now owns 9,518 shares of the industrial products company’s stock valued at $861,000 after acquiring an additional 1,364 shares during the last quarter. Johnson Investment Counsel Inc. raised its stake in Ingersoll Rand by 27.6% during the 4th quarter. Johnson Investment Counsel Inc. now owns 7,435 shares of the industrial products company’s stock valued at $673,000 after acquiring an additional 1,608 shares during the last quarter. Daiwa Securities Group Inc. increased its position in Ingersoll Rand by 49.0% during the 4th quarter. Daiwa Securities Group Inc. now owns 135,292 shares of the industrial products company’s stock worth $12,238,000 after purchasing an additional 44,465 shares during the period. Main Street Research LLC increased its position 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 purchasing an additional 8,352 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position 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 purchasing an additional 6,195 shares during the period. 95.27% of the stock is owned by hedge funds and other institutional investors.

Ingersoll Rand Price Performance

IR stock opened at $83.52 on Tuesday. Ingersoll Rand Inc. has a 1 year low of $79.97 and a 1 year high of $106.03. 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 stock’s 50 day moving average price is $89.04 and its 200 day moving average price is $94.50. The firm has a market cap of $33.67 billion, a P/E 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 analysts’ consensus estimates of $0.85 by ($0.04). Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. On average, sell-side analysts expect that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. The Goldman Sachs Group boosted their target price on Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Wells Fargo & Company dropped 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. Barclays dropped their target price on Ingersoll Rand from $102.00 to $96.00 and set an “overweight” rating on the stock in a research report on Monday. Robert W. Baird boosted their target price on Ingersoll Rand from $105.00 to $111.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Finally, Citigroup lowered their price target on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, January 13th. 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, Ingersoll Rand presently has an average rating of “Moderate Buy” and a consensus price target of $104.25.

Ingersoll Rand 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.