OFI Invest Asset Management Buys New Stake in Ingersoll Rand Inc. (NYSE:IR)

OFI Invest Asset Management purchased a new position in Ingersoll Rand Inc. (NYSE:IR) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 434 shares of the industrial products company’s stock, valued at approximately $38,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Savant Capital LLC raised its holdings in shares of 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 buying an additional 158 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Ingersoll Rand in the third quarter worth $864,000. Nordea Investment Management AB increased its stake 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 worth $153,867,000 after acquiring an additional 271,381 shares during the period. Daiwa Securities Group Inc. increased its stake 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 worth $8,916,000 after acquiring an additional 7,784 shares during the period. Finally, abrdn plc increased its stake 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 worth $23,851,000 after acquiring an additional 108,700 shares during the period. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on IR shares. Barclays cut their price objective on shares of Ingersoll Rand from $102.00 to $96.00 and set an “overweight” rating on the stock in a research note on Monday. Wells Fargo & Company cut their price objective on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. The Goldman Sachs Group increased their price objective on shares of Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Robert W. Baird increased their price objective on shares of Ingersoll Rand from $105.00 to $111.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Finally, UBS Group initiated coverage on shares of Ingersoll Rand in a research note on Wednesday, November 13th. They issued a “buy” rating and a $124.00 price objective on the stock. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Ingersoll Rand has a consensus rating of “Moderate Buy” and an average target price of $104.25.

Ingersoll Rand Stock Down 2.0 %

Shares of NYSE IR opened at $83.52 on Tuesday. The company’s 50-day simple moving average is $89.04 and its 200-day simple moving average is $94.50. Ingersoll Rand Inc. has a 52-week low of $79.97 and a 52-week high of $106.03. The firm has a market cap of $33.67 billion, a price-to-earnings ratio of 40.54, a price-to-earnings-growth ratio of 3.50 and a beta of 1.48. The company has a quick ratio of 1.71, a current ratio of 2.29 and a debt-to-equity ratio of 0.46.

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

Ingersoll Rand Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Wednesday, March 5th will be given a $0.02 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.08 annualized dividend and a dividend yield of 0.10%. 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.