Essex Financial Services Inc. Acquires 552 Shares of Ingersoll Rand Inc. (NYSE:IR)

Essex Financial Services Inc. grew its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 25.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,688 shares of the industrial products company’s stock after acquiring an additional 552 shares during the period. Essex Financial Services Inc.’s holdings in Ingersoll Rand were worth $243,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of IR. Regents Gate Capital LLP acquired a new position in shares of Ingersoll Rand in the fourth quarter worth approximately $10,171,000. Opal Wealth Advisors LLC lifted its position in shares of Ingersoll Rand by 8.9% in the 4th quarter. Opal Wealth Advisors LLC now owns 2,335 shares of the industrial products company’s stock worth $211,000 after purchasing an additional 190 shares during the period. Savant Capital LLC increased its position in shares of Ingersoll Rand by 2.3% during the fourth quarter. Savant Capital LLC now owns 6,938 shares of the industrial products company’s stock worth $628,000 after buying an additional 158 shares during the period. Newbridge Financial Services Group Inc. raised its stake in Ingersoll Rand by 5.1% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 3,003 shares of the industrial products company’s stock worth $272,000 after buying an additional 147 shares during the last quarter. Finally, Empowered Funds LLC lifted its holdings in Ingersoll Rand by 13.4% in the fourth quarter. Empowered Funds LLC now owns 7,277 shares of the industrial products company’s stock valued at $658,000 after buying an additional 861 shares during the period. Institutional investors and hedge funds own 95.27% of the company’s stock.

Ingersoll Rand Stock Performance

IR opened at $92.57 on Friday. 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 $37.31 billion, a price-to-earnings ratio of 45.16, a PEG ratio of 3.66 and a beta of 1.43. The company’s fifty day moving average price is $93.29 and its two-hundred day moving average price is $95.29. The company has a current ratio of 2.36, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46.

Ingersoll Rand (NYSE:IR) last posted its 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). Ingersoll Rand had a return on equity of 13.01% and a net margin of 11.72%. On average, analysts expect that Ingersoll Rand Inc. will post 3.2 EPS for the current fiscal year.

Ingersoll Rand Announces Dividend

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 dividend of $0.02 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.08 annualized dividend and a yield of 0.09%. Ingersoll Rand’s dividend payout ratio (DPR) is currently 3.90%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Stifel Nicolaus lowered their price objective on Ingersoll Rand from $107.00 to $100.00 and set a “hold” rating for the company in a research report on Friday, January 24th. The Goldman Sachs Group lifted their target price on Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Robert W. Baird dropped their price target on Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Barclays reduced their price objective on shares of Ingersoll Rand from $120.00 to $115.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Finally, Wells Fargo & Company cut their target price on shares of 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 research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.92.

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.