Advisors Asset Management Inc. Has $2.71 Million Stake in Ingersoll Rand Inc. (NYSE:IR)

Advisors Asset Management Inc. lifted its position in Ingersoll Rand Inc. (NYSE:IR) by 15.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,951 shares of the industrial products company’s stock after purchasing an additional 4,111 shares during the quarter. Advisors Asset Management Inc.’s holdings in Ingersoll Rand were worth $2,709,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Thrivent Financial for Lutherans raised its stake in Ingersoll Rand by 5.0% during the fourth quarter. Thrivent Financial for Lutherans now owns 181,073 shares of the industrial products company’s stock worth $16,380,000 after acquiring an additional 8,656 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Ingersoll Rand by 1.3% during the fourth quarter. Signaturefd LLC now owns 14,432 shares of the industrial products company’s stock worth $1,306,000 after purchasing an additional 188 shares during the last quarter. Cibc World Markets Corp grew its holdings in shares of Ingersoll Rand by 16.1% during the fourth quarter. Cibc World Markets Corp now owns 63,613 shares of the industrial products company’s stock worth $5,754,000 after purchasing an additional 8,832 shares during the last quarter. First National Advisers LLC bought a new stake in shares of Ingersoll Rand during the fourth quarter worth $1,472,000. Finally, Glenview Trust co grew its holdings in shares of Ingersoll Rand by 1.2% during the fourth quarter. Glenview Trust co now owns 187,344 shares of the industrial products company’s stock worth $16,947,000 after purchasing an additional 2,304 shares during the last quarter. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IR has been the topic of several research analyst reports. Robert W. Baird increased their target price on Ingersoll Rand from $105.00 to $111.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Citigroup decreased their price target on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Stifel Nicolaus decreased their price target on Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating on the stock in a report on Tuesday, February 18th. Barclays decreased their price target on Ingersoll Rand from $102.00 to $96.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. Finally, The Goldman Sachs Group raised their price target on Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Six research 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, Ingersoll Rand presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.36.

Ingersoll Rand Price Performance

Shares of IR opened at $81.00 on Friday. 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 Inc. has a 1 year low of $79.79 and a 1 year high of $106.03. The stock has a market cap of $32.65 billion, a P/E ratio of 39.32, a price-to-earnings-growth ratio of 3.50 and a beta of 1.48. The stock’s 50-day moving average price is $87.56 and its two-hundred day moving average price is $93.87.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings results on Thursday, February 13th. The industrial products company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. On average, equities analysts predict that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. The ex-dividend date of this dividend is Wednesday, March 5th. Ingersoll Rand’s dividend payout ratio is currently 3.88%.

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.