HighTower Advisors LLC Boosts Stake in Ingersoll Rand Inc. (NYSE:IR)

HighTower Advisors LLC lifted its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 2.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 84,177 shares of the industrial products company’s stock after buying an additional 2,049 shares during the period. HighTower Advisors LLC’s holdings in Ingersoll Rand were worth $7,615,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. OFI Invest Asset Management purchased a new position in shares of Ingersoll Rand in the 4th quarter worth $38,000. UMB Bank n.a. boosted its position in Ingersoll Rand by 27.0% in the fourth quarter. UMB Bank n.a. now owns 598 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 127 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of Ingersoll Rand by 654.4% during the 4th quarter. Versant Capital Management Inc now owns 679 shares of the industrial products company’s stock valued at $61,000 after purchasing an additional 589 shares during the period. Venturi Wealth Management LLC purchased a new stake in shares of Ingersoll Rand during the 4th quarter valued at about $99,000. Finally, WASHINGTON TRUST Co lifted its stake in shares of Ingersoll Rand by 18.5% in the 4th quarter. WASHINGTON TRUST Co now owns 1,136 shares of the industrial products company’s stock worth $103,000 after purchasing an additional 177 shares during the period. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Price Performance

Shares of NYSE:IR opened at $81.57 on Wednesday. The firm has a market cap of $32.88 billion, a price-to-earnings ratio of 39.60, a P/E/G ratio of 3.50 and a beta of 1.48. The firm has a fifty day moving average price of $87.98 and a 200 day moving average price of $94.12. Ingersoll Rand Inc. has a fifty-two week low of $79.79 and a fifty-two week 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.

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 company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. As a group, 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 disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Wednesday, March 5th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date is Wednesday, March 5th. Ingersoll Rand’s payout ratio is 3.88%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on IR. Citigroup reduced their target price on shares of Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a report on Monday, January 13th. The Goldman Sachs Group raised their target price on Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Stifel Nicolaus cut their price target on Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating for the company in a report on Tuesday, February 18th. Wells Fargo & Company decreased their price objective on 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, Evercore ISI cut their price objective on Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.36.

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.