NEOS Investment Management LLC Buys 17,675 Shares of Ingersoll Rand Inc. (NYSE:IR)

NEOS Investment Management LLC grew its stake in Ingersoll Rand Inc. (NYSE:IR) by 24.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 89,660 shares of the industrial products company’s stock after purchasing an additional 17,675 shares during the quarter. NEOS Investment Management LLC’s holdings in Ingersoll Rand were worth $8,111,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. UniSuper Management Pty Ltd grew its stake in Ingersoll Rand by 21.3% in the fourth quarter. UniSuper Management Pty Ltd now owns 34,547 shares of the industrial products company’s stock worth $3,125,000 after purchasing an additional 6,059 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Ingersoll Rand by 3.6% in the 4th quarter. JPMorgan Chase & Co. now owns 18,878,280 shares of the industrial products company’s stock worth $1,707,729,000 after buying an additional 649,102 shares during the period. Elo Mutual Pension Insurance Co grew its position in shares of Ingersoll Rand by 8.3% during the 4th quarter. Elo Mutual Pension Insurance Co now owns 38,550 shares of the industrial products company’s stock worth $3,487,000 after buying an additional 2,938 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Ingersoll Rand by 6.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 634,787 shares of the industrial products company’s stock valued at $58,711,000 after buying an additional 37,361 shares during the period. Finally, Murphy & Mullick Capital Management Corp bought a new stake in shares of Ingersoll Rand in the fourth quarter valued at about $36,000. 95.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Barclays reduced their price target on shares of Ingersoll Rand from $96.00 to $93.00 and set an “overweight” rating for the company in a report on Wednesday. Citigroup cut 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. Wells Fargo & Company dropped their price objective on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Robert W. Baird boosted their target price on shares of Ingersoll Rand from $105.00 to $111.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Finally, Evercore ISI lowered their price target on shares of Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Six research 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 stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.09.

Ingersoll Rand Stock Down 1.2 %

NYSE:IR opened at $81.37 on Thursday. The company’s 50 day moving average is $87.12 and its two-hundred day moving average is $93.80. The company 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. Ingersoll Rand Inc. has a twelve month low of $79.79 and a twelve month high of $106.03. 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 the consensus estimate of $0.85 by ($0.04). The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. Analysts anticipate that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Wednesday, March 5th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.10%. The ex-dividend date is Wednesday, March 5th. Ingersoll Rand’s dividend payout ratio (DPR) is 3.88%.

Ingersoll Rand 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.