Brown Brothers Harriman & Co. Grows Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

Brown Brothers Harriman & Co. raised its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 73.8% in the 4th quarter, Holdings Channel reports. The fund owned 1,455 shares of the industrial products company’s stock after acquiring an additional 618 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Ingersoll Rand were worth $132,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in IR. Vanguard Group Inc. raised its stake in shares of Ingersoll Rand by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 45,684,016 shares of the industrial products company’s stock worth $4,132,576,000 after purchasing an additional 446,591 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Ingersoll Rand by 3.6% in the 4th quarter. JPMorgan Chase & Co. now owns 18,878,280 shares of the industrial products company’s stock valued at $1,707,729,000 after buying an additional 649,102 shares during the period. State Street Corp raised its position in Ingersoll Rand by 0.7% during the 3rd quarter. State Street Corp now owns 15,776,908 shares of the industrial products company’s stock worth $1,548,661,000 after buying an additional 112,824 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Ingersoll Rand by 2.5% in the 3rd quarter. Franklin Resources Inc. now owns 11,597,321 shares of the industrial products company’s stock worth $1,207,554,000 after acquiring an additional 278,710 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Ingersoll Rand by 0.6% in the third quarter. Geode Capital Management LLC now owns 9,436,467 shares of the industrial products company’s stock valued at $923,087,000 after acquiring an additional 54,952 shares in the last quarter. 95.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on IR. Robert W. Baird raised their price objective on shares of Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Evercore ISI reduced their price target 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. The Goldman Sachs Group upped their price objective on Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Stifel Nicolaus reduced 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 lowered their price target on shares of Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Ingersoll Rand currently has an average rating of “Moderate Buy” and a consensus price target of $105.09.

Ingersoll Rand Price Performance

Ingersoll Rand stock opened at $80.59 on Wednesday. The company has a quick ratio of 1.71, a current ratio of 2.29 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $32.49 billion, a PE ratio of 39.12, a P/E/G ratio of 3.50 and a beta of 1.48. The firm’s 50-day simple moving average is $86.18 and its 200 day simple moving average is $93.59. Ingersoll Rand Inc. has a 52 week low of $77.18 and a 52 week 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 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. On average, equities research analysts predict that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Wednesday, March 5th were paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. The ex-dividend date of this dividend was Wednesday, March 5th. Ingersoll Rand’s payout ratio is currently 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.