Waterfront Wealth Inc. Increases Holdings in Ingersoll Rand Inc. (NYSE:IR)

Waterfront Wealth Inc. grew its holdings in Ingersoll Rand Inc. (NYSE:IR) by 2.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,392 shares of the industrial products company’s stock after acquiring an additional 220 shares during the period. Waterfront Wealth Inc.’s holdings in Ingersoll Rand were worth $1,031,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in IR. FMR LLC lifted its position in shares of Ingersoll Rand by 10.5% in the third quarter. FMR LLC now owns 16,152,094 shares of the industrial products company’s stock valued at $1,585,489,000 after acquiring an additional 1,538,056 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Ingersoll Rand by 8.7% in the third quarter. JPMorgan Chase & Co. now owns 18,229,178 shares of the industrial products company’s stock valued at $1,789,376,000 after acquiring an additional 1,462,538 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Ingersoll Rand by 9,681.5% in the third quarter. International Assets Investment Management LLC now owns 360,349 shares of the industrial products company’s stock valued at $353,720,000 after acquiring an additional 356,665 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Ingersoll Rand by 2.5% in the third quarter. Franklin Resources Inc. now owns 11,597,321 shares of the industrial products company’s stock worth $1,207,554,000 after purchasing an additional 278,710 shares during the last quarter. Finally, Nordea Investment Management AB increased its holdings in shares of Ingersoll Rand by 19.1% in the fourth quarter. Nordea Investment Management AB now owns 1,691,399 shares of the industrial products company’s stock worth $153,867,000 after purchasing an additional 271,381 shares during the last quarter. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Ingersoll Rand Trading Up 1.1 %

IR opened at $86.64 on Friday. The stock has a market cap of $34.92 billion, a price-to-earnings ratio of 42.06, a P/E/G ratio of 3.45 and a beta of 1.43. The stock’s 50 day moving average price is $91.50 and its 200-day moving average price is $94.95. Ingersoll Rand Inc. has a one year low of $83.72 and a one year high of $106.03. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.29.

Ingersoll Rand (NYSE:IR) last released its earnings results on Thursday, February 13th. The industrial products company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. On average, equities analysts forecast that Ingersoll Rand Inc. will post 3.3 EPS for the current year.

Ingersoll Rand Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. Ingersoll Rand’s dividend payout ratio is 3.88%.

Wall Street Analyst Weigh In

IR has been the topic of several research reports. Wells Fargo & Company reduced their target price on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Evercore ISI reduced their target price on Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating on the stock in a report on Wednesday. Stifel Nicolaus reduced their target price on Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating on the stock in a report on Tuesday. Barclays reduced their target price on Ingersoll Rand from $115.00 to $102.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, 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. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $104.75.

Ingersoll Rand 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.