Howard Capital Management Inc. Has $215,000 Stock Position in Ingersoll Rand Inc. (NYSE:IR)

Howard Capital Management Inc. increased its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 6.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,378 shares of the industrial products company’s stock after purchasing an additional 148 shares during the period. Howard Capital Management Inc.’s holdings in Ingersoll Rand were worth $215,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Savant Capital LLC boosted its holdings in Ingersoll Rand by 2.3% in the fourth quarter. Savant Capital LLC now owns 6,938 shares of the industrial products company’s stock worth $628,000 after acquiring an additional 158 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Ingersoll Rand in the third quarter valued at approximately $864,000. Nordea Investment Management AB lifted its holdings in shares of Ingersoll Rand by 19.1% in the fourth quarter. Nordea Investment Management AB now owns 1,691,399 shares of the industrial products company’s stock valued at $153,867,000 after purchasing an additional 271,381 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Ingersoll Rand by 9.4% in the third quarter. Daiwa Securities Group Inc. now owns 90,827 shares of the industrial products company’s stock valued at $8,916,000 after purchasing an additional 7,784 shares in the last quarter. Finally, abrdn plc lifted its holdings in shares of Ingersoll Rand by 70.5% in the fourth quarter. abrdn plc now owns 262,863 shares of the industrial products company’s stock valued at $23,851,000 after purchasing an additional 108,700 shares in the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.

Ingersoll Rand Stock Performance

Shares of IR opened at $83.38 on Wednesday. The company has a current ratio of 2.29, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $33.61 billion, a price-to-earnings ratio of 40.47, a PEG ratio of 3.50 and a beta of 1.43. The stock has a 50 day moving average of $90.53 and a 200 day moving average of $94.93. Ingersoll Rand Inc. has a 12 month low of $81.71 and a 12 month high of $106.03.

Ingersoll Rand (NYSE:IR) last released its earnings results on Thursday, February 13th. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. As a group, sell-side analysts forecast 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. Shareholders of record on Wednesday, March 5th will be given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a 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%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on IR. Barclays dropped their target price on Ingersoll Rand from $115.00 to $102.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. Evercore ISI dropped their target price on Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Robert W. Baird raised their target price on Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. The Goldman Sachs Group raised their target price on Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Finally, Wells Fargo & Company dropped their target price on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.