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

LPL Financial LLC increased its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 204.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 706,886 shares of the industrial products company’s stock after purchasing an additional 474,331 shares during the quarter. LPL Financial LLC’s holdings in Ingersoll Rand were worth $63,945,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fox Run Management L.L.C. bought a new position in Ingersoll Rand in the fourth quarter valued at about $1,221,000. KLP Kapitalforvaltning AS bought a new position in Ingersoll Rand in the 4th quarter valued at approximately $11,986,000. AXQ Capital LP acquired a new stake in Ingersoll Rand during the 4th quarter worth approximately $288,000. Mizuho Securities USA LLC grew its holdings in Ingersoll Rand by 46.0% during the 4th quarter. Mizuho Securities USA LLC now owns 38,196 shares of the industrial products company’s stock worth $3,455,000 after acquiring an additional 12,032 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in Ingersoll Rand in the 4th quarter valued at approximately $2,161,000. Institutional investors own 95.27% of the company’s stock.

Analyst Ratings Changes

IR has been the topic of a number of recent research reports. Citigroup cut their price target on shares of Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Evercore ISI reduced their price target on Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 19th. The Goldman Sachs Group increased their price target on Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Robert W. Baird lifted their price objective on Ingersoll Rand from $105.00 to $111.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Finally, Barclays decreased their target price 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 investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $105.09.

Ingersoll Rand Stock Down 1.2 %

Shares of NYSE IR opened at $81.37 on Thursday. The company has a quick ratio of 1.71, a current ratio of 2.29 and a debt-to-equity ratio of 0.46. The firm has a market cap of $32.80 billion, a PE ratio of 39.50, a P/E/G ratio of 3.50 and a beta of 1.48. The company’s fifty day simple moving average is $87.12 and its 200 day simple moving average is $93.80. Ingersoll Rand Inc. has a 12-month low of $79.79 and a 12-month high of $106.03.

Ingersoll Rand (NYSE:IR) last issued its 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). Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. As a group, sell-side analysts forecast that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend 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 (DPR) is currently 3.88%.

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.