Miller Financial Services LLC Purchases New Position in Ingersoll Rand Inc. (NYSE:IR)

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

Several other large investors have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its holdings in 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 purchasing an additional 1,462,538 shares in the last quarter. FMR LLC increased its holdings 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 in the last quarter. State Street Corp increased its holdings in Ingersoll Rand by 0.7% in the 3rd quarter. State Street Corp now owns 15,776,908 shares of the industrial products company’s stock valued at $1,548,661,000 after purchasing an additional 112,824 shares in the last quarter. Franklin Resources Inc. increased its holdings in Ingersoll Rand by 2.5% in the 3rd quarter. Franklin Resources Inc. now owns 11,597,321 shares of the industrial products company’s stock valued at $1,207,554,000 after purchasing an additional 278,710 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Ingersoll Rand by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 9,436,467 shares of the industrial products company’s stock valued at $923,087,000 after purchasing an additional 54,952 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Ingersoll Rand Stock Down 2.0 %

NYSE:IR opened at $83.52 on Tuesday. The company has a market capitalization of $33.67 billion, a price-to-earnings ratio of 40.54, a price-to-earnings-growth ratio of 3.50 and a beta of 1.48. Ingersoll Rand Inc. has a one year low of $79.97 and a one year high of $106.03. The stock has a 50-day simple moving average of $89.04 and a 200 day simple moving average of $94.50. 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 issued 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 return on equity of 12.78% and a net margin of 11.59%. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. Sell-side analysts predict 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 issued a $0.02 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. Ingersoll Rand’s dividend payout ratio is currently 3.88%.

Wall Street Analyst Weigh In

IR has been the subject of several recent analyst reports. Stifel Nicolaus lowered their target price on Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating for the company in a research note on Tuesday, February 18th. Barclays lowered their target price on Ingersoll Rand from $102.00 to $96.00 and set an “overweight” rating for the company in a research note on Monday. The Goldman Sachs Group raised their target price on Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Evercore ISI lowered their target price 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. Finally, Robert W. Baird raised their target price on Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ingersoll Rand currently has a consensus rating of “Moderate Buy” and a consensus target price of $104.25.

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.