ING Groep NV Makes New Investment in Ingersoll Rand Inc. (NYSE:IR)

ING Groep NV acquired a new stake in shares of Ingersoll Rand Inc. (NYSE:IR) during the 4th quarter, HoldingsChannel reports. The fund acquired 37,473 shares of the industrial products company’s stock, valued at approximately $3,390,000.

Several other institutional investors have also modified their holdings of IR. Ashton Thomas Securities LLC acquired a new position in Ingersoll Rand in the 3rd quarter valued at $34,000. Eastern Bank purchased a new stake in shares of Ingersoll Rand during the third quarter worth $42,000. UMB Bank n.a. raised its position in shares of Ingersoll Rand by 27.0% in the fourth quarter. UMB Bank n.a. now owns 598 shares of the industrial products company’s stock valued at $54,000 after buying an additional 127 shares during the last quarter. Versant Capital Management Inc lifted its stake in shares of Ingersoll Rand by 654.4% in 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 in the last quarter. Finally, Princeton Global Asset Management LLC acquired a new position in Ingersoll Rand during the third quarter worth about $65,000. Institutional investors and hedge funds own 95.27% of the company’s stock.

Ingersoll Rand Trading Down 3.6 %

NYSE IR opened at $83.66 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 has a market capitalization of $33.72 billion, a P/E ratio of 40.61, a PEG ratio of 3.50 and a beta of 1.43. The firm’s 50-day moving average is $91.15 and its two-hundred day moving average is $94.98. Ingersoll Rand Inc. has a 12 month low of $83.26 and a 12 month high of $106.03.

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

Ingersoll Rand Announces Dividend

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 paid a $0.02 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. Ingersoll Rand’s payout ratio is presently 3.88%.

Analysts Set New Price Targets

A number of research firms have commented on IR. Evercore ISI cut their price objective on shares of Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating for the company in a report on Wednesday. The Goldman Sachs Group increased 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. Wells Fargo & Company lowered their price objective on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Stifel Nicolaus dropped 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, February 18th. Finally, Citigroup reduced their price target on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average 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.