Waterfront Wealth Inc. Increases Holdings in Ingersoll Rand Inc. (NYSE:IR)

Waterfront Wealth Inc. lifted its position in Ingersoll Rand Inc. (NYSE:IR) by 2.0% in the fourth quarter, Holdings Channel reports. The firm owned 11,392 shares of the industrial products company’s stock after buying an additional 220 shares during the period. Waterfront Wealth Inc.’s holdings in Ingersoll Rand were worth $1,031,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new stake in shares of Ingersoll Rand in the third quarter valued at approximately $34,000. Eastern Bank purchased a new stake in Ingersoll Rand during the third quarter worth $42,000. UMB Bank n.a. lifted its holdings in Ingersoll Rand by 27.0% during the fourth quarter. UMB Bank n.a. now owns 598 shares of the industrial products company’s stock worth $54,000 after buying an additional 127 shares during the period. Princeton Global Asset Management LLC purchased a new stake in Ingersoll Rand during the third quarter worth $65,000. Finally, Versant Capital Management Inc lifted its holdings in Ingersoll Rand by 654.4% during the fourth quarter. Versant Capital Management Inc now owns 679 shares of the industrial products company’s stock worth $61,000 after buying an additional 589 shares during the period. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on IR shares. UBS Group started coverage on Ingersoll Rand in a report on Wednesday, November 13th. They set a “buy” rating and a $124.00 target price for the company. Stifel Nicolaus lowered their target price on Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating for the company in a report on Tuesday. Evercore ISI lowered 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. Citigroup lowered their target price on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, 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. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $104.75.

Ingersoll Rand Price Performance

NYSE IR opened at $86.64 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.29 and a quick ratio of 1.71. The stock’s fifty day moving average price is $91.50 and its 200 day moving average price is $94.95. Ingersoll Rand Inc. has a 1 year low of $83.72 and a 1 year high of $106.03. The company has a market cap of $34.92 billion, a price-to-earnings ratio of 42.06, a PEG ratio of 3.45 and a beta of 1.43.

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 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 firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. As a group, equities research analysts forecast that Ingersoll Rand Inc. will post 3.3 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. Investors of record on Wednesday, March 5th will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. The ex-dividend date of this dividend is Wednesday, March 5th. Ingersoll Rand’s payout ratio 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.