Fisher Asset Management LLC Raises Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

Fisher Asset Management LLC boosted its holdings in Ingersoll Rand Inc. (NYSE:IR) by 1.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,825,518 shares of the industrial products company’s stock after purchasing an additional 80,679 shares during the period. Fisher Asset Management LLC owned about 1.69% of Ingersoll Rand worth $617,436,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Private Advisor Group LLC raised its stake in Ingersoll Rand by 4.6% during the third quarter. Private Advisor Group LLC now owns 7,501 shares of the industrial products company’s stock valued at $736,000 after buying an additional 327 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Ingersoll Rand by 13.1% during the third quarter. Assenagon Asset Management S.A. now owns 14,964 shares of the industrial products company’s stock valued at $1,469,000 after buying an additional 1,732 shares in the last quarter. First Trust Direct Indexing L.P. raised its stake in Ingersoll Rand by 17.1% during the third quarter. First Trust Direct Indexing L.P. now owns 9,321 shares of the industrial products company’s stock valued at $915,000 after buying an additional 1,359 shares in the last quarter. Farther Finance Advisors LLC raised its stake in Ingersoll Rand by 20.9% during the third quarter. Farther Finance Advisors LLC now owns 2,439 shares of the industrial products company’s stock valued at $239,000 after buying an additional 422 shares in the last quarter. Finally, Princeton Global Asset Management LLC acquired a new stake in Ingersoll Rand during the third quarter valued at approximately $65,000. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Stock Up 2.2 %

Shares of Ingersoll Rand stock opened at $84.95 on Friday. The business’s fifty day moving average price is $90.02 and its two-hundred day moving average price is $94.75. 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 company has a market capitalization of $34.24 billion, a P/E ratio of 41.24, a PEG ratio of 3.50 and a beta of 1.43. Ingersoll Rand Inc. has a 1-year low of $81.71 and a 1-year high of $106.03.

Ingersoll Rand (NYSE:IR) last announced its 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). Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. As a group, research analysts forecast that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. The ex-dividend date is Wednesday, March 5th. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.88%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Stifel Nicolaus cut their price objective 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. The Goldman Sachs Group upped their price objective on Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Wells Fargo & Company cut their price objective 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. Citigroup cut their price objective on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Finally, UBS Group started coverage on Ingersoll Rand in a report on Wednesday, November 13th. They issued a “buy” rating and a $124.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $104.75.

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.