Edgestream Partners L.P. Increases Stake in Ingersoll Rand Inc. (NYSE:IR)

Edgestream Partners L.P. increased its position in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 43.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 24,492 shares of the industrial products company's stock after purchasing an additional 7,461 shares during the quarter. Edgestream Partners L.P.'s holdings in Ingersoll Rand were worth $2,216,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC boosted its holdings in shares of Ingersoll Rand by 20.9% during the 3rd 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. QRG Capital Management Inc. boosted its stake in Ingersoll Rand by 8.7% during the third quarter. QRG Capital Management Inc. now owns 6,381 shares of the industrial products company's stock worth $626,000 after acquiring an additional 509 shares in the last quarter. Concurrent Investment Advisors LLC grew its holdings in Ingersoll Rand by 41.1% in the third quarter. Concurrent Investment Advisors LLC now owns 3,475 shares of the industrial products company's stock worth $341,000 after purchasing an additional 1,012 shares during the period. Principal Financial Group Inc. increased its stake in shares of Ingersoll Rand by 0.7% during the third quarter. Principal Financial Group Inc. now owns 467,439 shares of the industrial products company's stock valued at $45,884,000 after purchasing an additional 3,165 shares in the last quarter. Finally, Assetmark Inc. boosted its position in shares of Ingersoll Rand by 61.3% in the 3rd quarter. Assetmark Inc. now owns 97,723 shares of the industrial products company's stock worth $9,592,000 after purchasing an additional 37,154 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors.

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Ingersoll Rand Stock Performance

Shares of NYSE IR traded down $1.54 during midday trading on Thursday, hitting $79.95. 2,180,503 shares of the company's stock traded hands, compared to its average volume of 2,380,878. The firm has a fifty day moving average of $88.71 and a 200 day moving average of $94.34. Ingersoll Rand Inc. has a 1 year low of $79.82 and a 1 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. The stock has a market capitalization of $32.23 billion, a price-to-earnings ratio of 38.81, a price-to-earnings-growth ratio of 3.50 and a beta of 1.48.

Ingersoll Rand (NYSE:IR - Get Free Report) last announced its earnings results on Thursday, February 13th. The industrial products company reported $0.81 earnings per share (EPS) 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. On average, analysts forecast that Ingersoll Rand Inc. will post 3.32 earnings per share 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 issued a $0.02 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. Ingersoll Rand's dividend payout ratio is currently 3.88%.

Analyst Ratings Changes

A number of research analysts recently weighed in on IR shares. Wells Fargo & Company reduced their price objective on Ingersoll Rand from $115.00 to $105.00 and set an "overweight" rating for the company in a research report on Tuesday, January 7th. Stifel Nicolaus reduced their price target on shares of Ingersoll Rand from $100.00 to $94.00 and set a "hold" rating for the company in a research report on Tuesday, February 18th. Barclays lowered their price objective on Ingersoll Rand from $102.00 to $96.00 and set an "overweight" rating on the stock in a research report on Monday. Robert W. Baird lifted their target price on Ingersoll Rand from $105.00 to $111.00 and gave the stock an "outperform" rating in a report on Tuesday, February 18th. Finally, Evercore ISI lowered their price target on Ingersoll Rand from $100.00 to $91.00 and set an "in-line" rating on the stock in a report on Wednesday, February 19th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company 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.