Edgestream Partners L.P. Has $2.22 Million Stock Position in Ingersoll Rand Inc. (NYSE:IR)

Edgestream Partners L.P. raised its position in Ingersoll Rand Inc. (NYSE:IR) by 43.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,492 shares of the industrial products company’s stock after acquiring an additional 7,461 shares during the period. Edgestream Partners L.P.’s holdings in Ingersoll Rand were worth $2,216,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Savant Capital LLC raised its holdings in Ingersoll Rand by 2.3% in the 4th quarter. Savant Capital LLC now owns 6,938 shares of the industrial products company’s stock valued at $628,000 after acquiring an additional 158 shares in the last quarter. Virtu Financial LLC acquired a new position in Ingersoll Rand in the 3rd quarter valued at approximately $864,000. Nordea Investment Management AB raised its holdings in Ingersoll Rand by 19.1% in the 4th quarter. Nordea Investment Management AB now owns 1,691,399 shares of the industrial products company’s stock valued at $153,867,000 after acquiring an additional 271,381 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in Ingersoll Rand by 9.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 90,827 shares of the industrial products company’s stock valued at $8,916,000 after acquiring an additional 7,784 shares in the last quarter. Finally, abrdn plc raised its holdings in Ingersoll Rand by 70.5% in the 4th quarter. abrdn plc now owns 262,863 shares of the industrial products company’s stock valued at $23,851,000 after acquiring an additional 108,700 shares in the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.

Analyst Upgrades and Downgrades

IR has been the subject of several recent research reports. The Goldman Sachs Group upped 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. Barclays dropped their target price on Ingersoll Rand from $115.00 to $102.00 and set an “overweight” rating for the company 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 for the company in a report on Wednesday, February 19th. 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. Finally, Wells Fargo & Company dropped their target price on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $104.75.

Ingersoll Rand Trading Up 0.6 %

IR stock opened at $85.27 on Monday. The business has a fifty day moving average price of $89.18 and a 200 day moving average price of $94.54. Ingersoll Rand Inc. has a fifty-two week low of $79.96 and a fifty-two week high of $106.03. The stock has a market capitalization of $34.37 billion, a price-to-earnings ratio of 41.39, a P/E/G 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 released 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). Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Analysts expect that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Wednesday, March 5th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. Ingersoll Rand’s payout ratio is 3.88%.

Ingersoll Rand Company 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.