Carmel Capital Partners LLC Increases Stock Position in Ingersoll Rand Inc. (NYSE:IR)

Carmel Capital Partners LLC raised its holdings in Ingersoll Rand Inc. (NYSE:IR) by 8.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,033 shares of the industrial products company’s stock after purchasing an additional 1,151 shares during the quarter. Carmel Capital Partners LLC’s holdings in Ingersoll Rand were worth $1,360,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in IR. Ashton Thomas Securities LLC purchased a new stake in Ingersoll Rand in the 3rd quarter valued at approximately $34,000. UMB Bank n.a. boosted its holdings in Ingersoll Rand by 27.0% in the 4th quarter. UMB Bank n.a. now owns 598 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 127 shares in the last quarter. Versant Capital Management Inc boosted its holdings in Ingersoll Rand by 654.4% in the 4th quarter. Versant Capital Management Inc now owns 679 shares of the industrial products company’s stock valued at $61,000 after purchasing an additional 589 shares in the last quarter. Venturi Wealth Management LLC purchased a new stake in Ingersoll Rand in the 4th quarter valued at approximately $99,000. Finally, WASHINGTON TRUST Co boosted its holdings in Ingersoll Rand by 18.5% in the 4th quarter. WASHINGTON TRUST Co now owns 1,136 shares of the industrial products company’s stock valued at $103,000 after purchasing an additional 177 shares in the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Trading Up 3.8 %

Shares of Ingersoll Rand stock opened at $84.52 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.29 and a quick ratio of 1.71. Ingersoll Rand Inc. has a 1 year low of $79.96 and a 1 year high of $106.03. The company has a market capitalization of $34.07 billion, a P/E ratio of 41.03, a P/E/G ratio of 3.50 and a beta of 1.43. The business has a 50 day moving average price of $89.46 and a 200 day moving average price of $94.60.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings results on Thursday, February 13th. The industrial products company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.04). The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. Sell-side analysts anticipate that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal 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 issued a dividend of $0.02 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. Ingersoll Rand’s payout ratio is 3.88%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Citigroup lowered their price objective on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Stifel Nicolaus decreased their price target on Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating on the stock in a research note on Tuesday, February 18th. UBS Group began coverage on Ingersoll Rand in a research note on Wednesday, November 13th. They set a “buy” rating and a $124.00 price target on the stock. Barclays decreased their price target on Ingersoll Rand from $115.00 to $102.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 18th. Finally, Wells Fargo & Company decreased their price target 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. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $104.75.

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.