HighPoint Advisor Group LLC Has $519,000 Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

HighPoint Advisor Group LLC raised its stake in Ingersoll Rand Inc. (NYSE:IR) by 69.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,631 shares of the industrial products company’s stock after buying an additional 2,306 shares during the period. HighPoint Advisor Group LLC’s holdings in Ingersoll Rand were worth $519,000 at the end of the most recent reporting period.

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

Ingersoll Rand Trading Up 1.4 %

IR opened at $81.75 on Thursday. The company has a fifty day moving average price of $85.93 and a two-hundred day moving average price of $93.50. Ingersoll Rand Inc. has a 1-year low of $77.18 and a 1-year high of $106.03. The company has a market cap of $32.95 billion, a P/E ratio of 39.68, a price-to-earnings-growth ratio of 3.50 and a beta of 1.48. The company has a current ratio of 2.29, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46.

Ingersoll Rand (NYSE:IR) last posted 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). 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. Analysts predict 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. Investors of record on Wednesday, March 5th were given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.10%. The ex-dividend date of this dividend was Wednesday, March 5th. Ingersoll Rand’s payout ratio is currently 3.88%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Citigroup lowered their target price on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Evercore ISI cut their price objective 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. Wells Fargo & Company decreased their target price on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Robert W. Baird boosted their price target on shares of Ingersoll Rand from $105.00 to $111.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Finally, Barclays decreased their price objective 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, March 26th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $105.09.

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.