Assetmark Inc. Grows Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

Assetmark Inc. raised its position in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 34.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 131,226 shares of the industrial products company's stock after acquiring an additional 33,503 shares during the quarter. Assetmark Inc.'s holdings in Ingersoll Rand were worth $11,871,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. FMR LLC increased its stake in Ingersoll Rand by 10.5% during the 3rd quarter. FMR LLC now owns 16,152,094 shares of the industrial products company's stock valued at $1,585,489,000 after purchasing an additional 1,538,056 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Ingersoll Rand by 8.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 18,229,178 shares of the industrial products company's stock worth $1,789,376,000 after purchasing an additional 1,462,538 shares in the last quarter. Franklin Resources Inc. raised its stake 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. Nordea Investment Management AB lifted 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 valued at $153,867,000 after purchasing an additional 271,381 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in shares of Ingersoll Rand during the fourth quarter valued at approximately $131,000. 95.27% of the stock is currently owned by institutional investors and hedge funds.

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Ingersoll Rand Stock Performance

IR traded down $1.71 on Monday, hitting $83.52. The company's stock had a trading volume of 4,090,449 shares, compared to its average volume of 2,378,269. The company has a quick ratio of 1.71, a current ratio of 2.29 and a debt-to-equity ratio of 0.46. Ingersoll Rand Inc. has a 12 month low of $79.97 and a 12 month high of $106.03. The firm has a market cap of $33.67 billion, a P/E ratio of 40.54, a price-to-earnings-growth ratio of 3.50 and a beta of 1.48. The company's 50 day simple moving average is $89.18 and its 200-day simple moving average is $94.54.

Ingersoll Rand (NYSE:IR - Get Free Report) last released its quarterly 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). Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. The firm had revenue of $1.90 billion for the quarter, compared to analysts' expectations of $1.91 billion. Analysts forecast that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on IR. Citigroup lowered their target price on shares of Ingersoll Rand from $119.00 to $115.00 and set a "buy" rating for the company in a report on Monday, January 13th. Evercore ISI decreased their price objective 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. UBS Group initiated coverage on Ingersoll Rand in a research note on Wednesday, November 13th. They issued a "buy" rating and a $124.00 target price on the stock. Robert W. Baird increased their price target on Ingersoll Rand from $105.00 to $111.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. Finally, 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 report 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 data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $104.25.

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.