LPL Financial LLC Has $63.95 Million Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

LPL Financial LLC lifted its stake in Ingersoll Rand Inc. (NYSE:IR) by 204.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 706,886 shares of the industrial products company’s stock after acquiring an additional 474,331 shares during the quarter. LPL Financial LLC owned approximately 0.18% of Ingersoll Rand worth $63,945,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. grew its position in shares of Ingersoll Rand by 8.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 18,229,178 shares of the industrial products company’s stock valued at $1,789,376,000 after acquiring an additional 1,462,538 shares during the period. FMR LLC lifted its stake in Ingersoll Rand by 10.5% in the 3rd quarter. FMR LLC now owns 16,152,094 shares of the industrial products company’s stock valued at $1,585,489,000 after purchasing an additional 1,538,056 shares during the last quarter. State Street Corp grew its holdings in Ingersoll Rand by 0.7% during the third quarter. State Street Corp now owns 15,776,908 shares of the industrial products company’s stock worth $1,548,661,000 after purchasing an additional 112,824 shares during the period. Franklin Resources Inc. increased its position in Ingersoll Rand by 2.5% during the third quarter. Franklin Resources Inc. now owns 11,597,321 shares of the industrial products company’s stock worth $1,207,554,000 after buying an additional 278,710 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Ingersoll Rand by 0.6% in the third quarter. Geode Capital Management LLC now owns 9,436,467 shares of the industrial products company’s stock valued at $923,087,000 after buying an additional 54,952 shares during the period. Institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Trading Down 1.2 %

Shares of NYSE:IR opened at $81.37 on Thursday. The company has a market capitalization of $32.80 billion, a P/E ratio of 39.50, a P/E/G ratio of 3.50 and a beta of 1.48. 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 business’s 50 day simple moving average is $87.12 and its 200 day simple moving average is $93.80. Ingersoll Rand Inc. has a 1 year low of $79.79 and a 1 year high of $106.03.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings results 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 company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. On average, research analysts anticipate that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Wednesday, March 5th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.10%. The ex-dividend date is Wednesday, March 5th. Ingersoll Rand’s payout ratio is presently 3.88%.

Analysts Set New Price Targets

A number of research firms recently weighed in on IR. Evercore ISI decreased their target price on Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Stifel Nicolaus decreased their price objective on shares of Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating on the stock in a report on Tuesday, February 18th. Robert W. Baird raised their target price on shares of Ingersoll Rand from $105.00 to $111.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Wells Fargo & Company decreased their price target on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Finally, Barclays cut their price objective on shares of Ingersoll Rand from $96.00 to $93.00 and set an “overweight” rating for the company in a research report on Wednesday. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $105.09.

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.