First National Advisers LLC Buys New Shares in Ingersoll Rand Inc. (NYSE:IR)

First National Advisers LLC bought a new stake in Ingersoll Rand Inc. (NYSE:IR) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 16,278 shares of the industrial products company’s stock, valued at approximately $1,472,000.

Several other hedge funds have also made changes to their positions in the stock. Glenview Trust co lifted its stake in shares of Ingersoll Rand by 1.2% in the fourth quarter. Glenview Trust co now owns 187,344 shares of the industrial products company’s stock valued at $16,947,000 after buying an additional 2,304 shares during the period. Envestnet Portfolio Solutions Inc. lifted its stake in Ingersoll Rand by 4.2% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 11,039 shares of the industrial products company’s stock worth $999,000 after purchasing an additional 442 shares during the period. one8zero8 LLC bought a new position in Ingersoll Rand during the fourth quarter worth about $736,000. Natixis Advisors LLC lifted its stake in Ingersoll Rand by 2.1% during the fourth quarter. Natixis Advisors LLC now owns 152,194 shares of the industrial products company’s stock worth $13,767,000 after purchasing an additional 3,090 shares during the period. Finally, LBP AM SA lifted its stake in Ingersoll Rand by 1.6% during the fourth quarter. LBP AM SA now owns 170,096 shares of the industrial products company’s stock worth $15,387,000 after purchasing an additional 2,661 shares during the period. Institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Stock Performance

Shares of Ingersoll Rand stock opened at $81.88 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 firm has a market cap of $33.00 billion, a P/E ratio of 39.75, a P/E/G ratio of 3.50 and a beta of 1.48. The firm has a 50 day simple moving average of $88.29 and a 200 day simple moving average of $94.21. Ingersoll Rand Inc. has a fifty-two week low of $79.79 and a fifty-two week high of $106.03.

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 analysts’ consensus estimates of $0.85 by ($0.04). The company 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 predict that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Wednesday, March 5th will be issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. The ex-dividend date is Wednesday, March 5th. Ingersoll Rand’s dividend payout ratio is currently 3.88%.

Analyst Upgrades and Downgrades

IR has been the subject of a number of analyst reports. Evercore ISI cut their price target on shares of Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. Robert W. Baird raised their price target on shares of Ingersoll Rand from $105.00 to $111.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Citigroup cut their price target on shares of Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Wells Fargo & Company cut their target price on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Finally, Barclays cut their target price on shares of Ingersoll Rand from $102.00 to $96.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Ingersoll Rand currently has a consensus rating of “Moderate Buy” and an average target price of $105.36.

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.