JPMorgan Chase & Co. Purchases 649,102 Shares of Ingersoll Rand Inc. (NYSE:IR)

JPMorgan Chase & Co. lifted its position in Ingersoll Rand Inc. (NYSE:IR) by 3.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 18,878,280 shares of the industrial products company’s stock after acquiring an additional 649,102 shares during the period. JPMorgan Chase & Co.’s holdings in Ingersoll Rand were worth $1,707,729,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Murphy & Mullick Capital Management Corp purchased a new stake in Ingersoll Rand in the fourth quarter worth $36,000. OFI Invest Asset Management purchased a new position in Ingersoll Rand in the 4th quarter worth about $38,000. Lee Danner & Bass Inc. purchased a new position in Ingersoll Rand in the 4th quarter worth about $42,000. Millstone Evans Group LLC purchased a new stake in Ingersoll Rand in the 4th quarter valued at about $50,000. Finally, UMB Bank n.a. grew its stake in Ingersoll Rand by 27.0% in the 4th quarter. UMB Bank n.a. now owns 598 shares of the industrial products company’s stock worth $54,000 after acquiring an additional 127 shares in the last quarter. 95.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IR has been the subject of a number of research reports. Stifel Nicolaus lowered their price target on Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating for the company in a report on Tuesday, February 18th. Robert W. Baird upped 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. Barclays cut their price target on Ingersoll Rand from $96.00 to $93.00 and set an “overweight” rating on the stock in a research note on Wednesday. Citigroup lowered their price objective on shares of Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Finally, The Goldman Sachs Group boosted their price target on shares of Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $105.09.

Ingersoll Rand Stock Down 0.0 %

Shares of IR stock opened at $81.37 on Friday. The stock’s fifty day moving average price is $86.94 and its 200 day moving average price is $93.72. Ingersoll Rand Inc. has a 1-year low of $79.79 and a 1-year high of $106.03. The company has a market cap of $32.80 billion, a price-to-earnings ratio of 39.50, a price-to-earnings-growth ratio of 3.50 and a beta of 1.48. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.29 and a quick ratio of 1.71.

Ingersoll Rand (NYSE:IR) last issued 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). The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. On average, research analysts expect that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Wednesday, March 5th were issued a $0.02 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. 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.