Main Street Research LLC Has $33.06 Million Stock Position in Ingersoll Rand Inc. (NYSE:IR)

Main Street Research LLC lifted its stake in Ingersoll Rand Inc. (NYSE:IR) by 2.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 365,501 shares of the industrial products company’s stock after buying an additional 8,352 shares during the quarter. Ingersoll Rand makes up about 2.1% of Main Street Research LLC’s holdings, making the stock its 24th biggest holding. Main Street Research LLC’s holdings in Ingersoll Rand were worth $33,063,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Ingersoll Rand by 3.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 192,151 shares of the industrial products company’s stock worth $17,382,000 after purchasing an additional 6,195 shares in the last quarter. OFI Invest Asset Management acquired a new stake in shares of Ingersoll Rand during the fourth quarter worth approximately $38,000. Amundi raised its stake in shares of Ingersoll Rand by 17.0% in the fourth quarter. Amundi now owns 2,162,728 shares of the industrial products company’s stock valued at $192,980,000 after acquiring an additional 313,674 shares during the last quarter. Banco Santander S.A. boosted its holdings in shares of Ingersoll Rand by 17.4% in the 4th quarter. Banco Santander S.A. now owns 7,438 shares of the industrial products company’s stock worth $673,000 after acquiring an additional 1,101 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich grew its position in Ingersoll Rand by 1.6% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 354,110 shares of the industrial products company’s stock worth $32,798,000 after acquiring an additional 5,438 shares during the last quarter. Institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Stock Performance

Shares of Ingersoll Rand stock opened at $85.27 on Monday. Ingersoll Rand Inc. has a 52 week low of $79.96 and a 52 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 stock has a market capitalization of $34.37 billion, a price-to-earnings ratio of 41.39, a PEG ratio of 3.50 and a beta of 1.48. The firm has a fifty day moving average of $89.18 and a two-hundred day moving average of $94.54.

Ingersoll Rand (NYSE:IR) last released 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 company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. As a group, equities research analysts predict that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on IR. The Goldman Sachs Group lifted their price objective on Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Citigroup reduced their price target on shares of Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Barclays decreased their price objective on shares of Ingersoll Rand from $115.00 to $102.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. Wells Fargo & Company dropped 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 note on Tuesday, January 7th. Finally, Stifel Nicolaus decreased their price target on shares of Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating on the stock in a research note on Tuesday, February 18th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.