Essex Financial Services Inc. Boosts Stake in Ingersoll Rand Inc. (NYSE:IR)

Essex Financial Services Inc. lifted its holdings in Ingersoll Rand Inc. (NYSE:IR) by 25.8% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,688 shares of the industrial products company’s stock after buying an additional 552 shares during the period. Essex Financial Services Inc.’s holdings in Ingersoll Rand were worth $243,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Exchange Traded Concepts LLC purchased a new stake in shares of Ingersoll Rand during the 3rd quarter worth approximately $245,000. Creative Planning lifted its position in shares of Ingersoll Rand by 66.2% during the 3rd quarter. Creative Planning now owns 109,961 shares of the industrial products company’s stock valued at $10,794,000 after buying an additional 43,801 shares during the last quarter. Opal Wealth Advisors LLC grew its stake in shares of Ingersoll Rand by 6.0% during the 3rd quarter. Opal Wealth Advisors LLC now owns 2,145 shares of the industrial products company’s stock worth $211,000 after acquiring an additional 121 shares during the period. Vontobel Holding Ltd. increased its holdings in Ingersoll Rand by 99.9% in the 3rd quarter. Vontobel Holding Ltd. now owns 21,340 shares of the industrial products company’s stock worth $2,095,000 after acquiring an additional 10,664 shares during the last quarter. Finally, Bleakley Financial Group LLC raised its stake in Ingersoll Rand by 128.0% in the 3rd quarter. Bleakley Financial Group LLC now owns 17,914 shares of the industrial products company’s stock valued at $1,758,000 after acquiring an additional 10,058 shares during the period. 95.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on IR. Stifel Nicolaus cut their target price on shares of Ingersoll Rand from $107.00 to $100.00 and set a “hold” rating for the company in a research report on Friday, January 24th. Barclays cut their price objective on shares of Ingersoll Rand from $120.00 to $115.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Wells Fargo & Company lowered their target price on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. The Goldman Sachs Group raised their price target on Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Finally, UBS Group initiated coverage on Ingersoll Rand in a research note on Wednesday, November 13th. They set 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. According to data from MarketBeat.com, Ingersoll Rand has a consensus rating of “Moderate Buy” and an average price target of $105.92.

Ingersoll Rand Price Performance

Shares of NYSE IR opened at $92.57 on Friday. The firm has a market capitalization of $37.31 billion, a P/E ratio of 45.16, a P/E/G ratio of 3.66 and a beta of 1.43. The company has a quick ratio of 1.71, a current ratio of 2.36 and a debt-to-equity ratio of 0.46. The stock’s 50-day simple moving average is $93.29 and its two-hundred day simple moving average is $95.29. Ingersoll Rand Inc. has a twelve month low of $83.72 and a twelve month high of $106.03.

Ingersoll Rand (NYSE:IR) last announced its 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 11.72% and a return on equity of 13.01%. As a group, equities analysts anticipate that Ingersoll Rand Inc. will post 3.2 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. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.02 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.90%.

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.