Ingersoll Rand Inc. (NYSE:IR) Shares Acquired by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC grew its position in Ingersoll Rand Inc. (NYSE:IR) by 6.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,273 shares of the industrial products company’s stock after acquiring an additional 141 shares during the period. Lake Street Advisors Group LLC’s holdings in Ingersoll Rand were worth $206,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. grew its stake in shares of Ingersoll Rand by 8.7% in the third quarter. JPMorgan Chase & Co. now owns 18,229,178 shares of the industrial products company’s stock valued at $1,789,376,000 after buying an additional 1,462,538 shares in the last quarter. FMR LLC grew its stake in shares of Ingersoll Rand by 10.5% in the third quarter. FMR LLC now owns 16,152,094 shares of the industrial products company’s stock valued at $1,585,489,000 after buying an additional 1,538,056 shares in the last quarter. State Street Corp grew its stake in Ingersoll Rand by 0.7% during the 3rd quarter. State Street Corp now owns 15,776,908 shares of the industrial products company’s stock worth $1,548,661,000 after purchasing an additional 112,824 shares in the last quarter. Franklin Resources Inc. grew its stake in Ingersoll Rand by 2.5% during the 3rd quarter. Franklin Resources Inc. now owns 11,597,321 shares of the industrial products company’s stock worth $1,207,554,000 after purchasing an additional 278,710 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Ingersoll Rand by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 9,436,467 shares of the industrial products company’s stock worth $923,087,000 after purchasing an additional 54,952 shares in the last quarter. 95.27% of the stock is owned by institutional investors and hedge funds.

Ingersoll Rand Stock Up 2.2 %

Ingersoll Rand stock opened at $84.95 on Friday. Ingersoll Rand Inc. has a fifty-two week low of $81.71 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. The company has a market capitalization of $34.24 billion, a P/E ratio of 41.24, a PEG ratio of 3.50 and a beta of 1.43. The stock has a 50-day simple moving average of $90.02 and a 200-day simple moving average of $94.75.

Ingersoll Rand (NYSE:IR) last posted its earnings results on Thursday, February 13th. The industrial products company reported $0.81 earnings per share 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 firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Equities research analysts expect that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand Announces Dividend

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

Analysts Set New Price Targets

Several research analysts recently commented on the company. Wells Fargo & Company lowered their target price on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. 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 note on Monday, January 13th. UBS Group assumed coverage on Ingersoll Rand in a research note on Wednesday, November 13th. They set a “buy” rating and a $124.00 target price for the company. Barclays lowered their target price on Ingersoll Rand from $115.00 to $102.00 and set an “overweight” rating for the company in a research note on Tuesday, February 18th. Finally, 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. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $104.75.

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.