HighPoint Advisor Group LLC Buys 2,306 Shares of Ingersoll Rand Inc. (NYSE:IR)

HighPoint Advisor Group LLC increased its stake in Ingersoll Rand Inc. (NYSE:IR) by 69.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,631 shares of the industrial products company’s stock after buying an additional 2,306 shares during the quarter. HighPoint Advisor Group LLC’s holdings in Ingersoll Rand were worth $519,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Murphy & Mullick Capital Management Corp acquired a new position in Ingersoll Rand during the fourth quarter worth approximately $36,000. OFI Invest Asset Management bought a new position in shares of Ingersoll Rand during the 4th quarter worth approximately $38,000. Lee Danner & Bass Inc. acquired a new position in shares of Ingersoll Rand during the 4th quarter worth approximately $42,000. Millstone Evans Group LLC bought a new stake in Ingersoll Rand in the 4th quarter valued at $50,000. Finally, UMB Bank n.a. lifted its holdings in Ingersoll Rand by 27.0% during the 4th 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 during the last quarter. 95.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on IR. The Goldman Sachs Group increased their price objective on shares of Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Stifel Nicolaus lowered their price target 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. Wells Fargo & Company reduced their price objective on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Evercore ISI lowered their target price on Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 19th. Finally, Citigroup reduced their price target 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. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $105.09.

Ingersoll Rand Stock Up 1.4 %

IR stock opened at $81.75 on Thursday. The company has a market cap of $32.95 billion, a PE ratio of 39.68, a price-to-earnings-growth ratio of 3.50 and a beta of 1.48. 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 52 week low of $77.18 and a 52 week high of $106.03. The business has a 50-day simple moving average of $85.93 and a 200 day simple moving average of $93.50.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings results on Thursday, February 13th. The industrial products company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). The firm had revenue of $1.90 billion for 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%. Sell-side analysts anticipate that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.02 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. Ingersoll Rand’s dividend payout ratio (DPR) is currently 3.88%.

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.