Paradigm Asset Management Co. LLC Makes New Investment in Ingersoll Rand Inc. (NYSE:IR)

Paradigm Asset Management Co. LLC acquired a new position in shares of Ingersoll Rand Inc. (NYSE:IR) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 16,800 shares of the industrial products company’s stock, valued at approximately $1,520,000.

A number of other institutional investors have also recently bought and sold shares of IR. Blue Trust Inc. boosted its position in Ingersoll Rand by 167.5% during the 3rd quarter. Blue Trust Inc. now owns 2,729 shares of the industrial products company’s stock worth $248,000 after acquiring an additional 1,709 shares during the period. Raymond James & Associates boosted its position in Ingersoll Rand by 51.1% during the 3rd quarter. Raymond James & Associates now owns 353,809 shares of the industrial products company’s stock worth $34,730,000 after acquiring an additional 119,656 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Ingersoll Rand by 11.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 317,063 shares of the industrial products company’s stock worth $31,123,000 after acquiring an additional 32,961 shares during the period. Sequoia Financial Advisors LLC raised its stake in shares of Ingersoll Rand by 13.9% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,112 shares of the industrial products company’s stock worth $502,000 after purchasing an additional 623 shares in the last quarter. Finally, Signaturefd LLC lifted its holdings in shares of Ingersoll Rand by 33.9% during the 3rd quarter. Signaturefd LLC now owns 14,244 shares of the industrial products company’s stock valued at $1,398,000 after buying an additional 3,604 shares during the last quarter. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on IR shares. UBS Group started coverage on Ingersoll Rand in a report on Wednesday, November 13th. They set a “buy” rating and a $124.00 price target for the company. Evercore ISI reduced their price target on Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating for the company in a report on Wednesday. Wells Fargo & Company reduced their price target on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Robert W. Baird lifted their price target on Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, The Goldman Sachs Group lifted their price target on Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $104.75.

Ingersoll Rand Stock Up 1.1 %

Shares of IR stock opened at $86.64 on Friday. Ingersoll Rand Inc. has a 12 month low of $83.72 and a 12 month high of $106.03. The firm has a market cap of $34.92 billion, a PE ratio of 42.06, a price-to-earnings-growth ratio of 3.47 and a beta of 1.43. The stock has a 50 day moving average of $91.50 and a 200-day moving average of $94.95. 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 (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). Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. On average, equities analysts predict that Ingersoll Rand Inc. will post 3.31 EPS for the current year.

Ingersoll Rand Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date is Wednesday, March 5th. Ingersoll Rand’s dividend payout ratio is presently 3.88%.

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.