Charles Schwab Investment Management Inc. Grows Holdings in Ingersoll Rand Inc. (NYSE:IR)

Charles Schwab Investment Management Inc. boosted its stake in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 3.0% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 2,273,770 shares of the industrial products company's stock after acquiring an additional 65,503 shares during the period. Charles Schwab Investment Management Inc. owned about 0.56% of Ingersoll Rand worth $205,685,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Chicago Partners Investment Group LLC lifted its stake in shares of Ingersoll Rand by 4.7% in the fourth quarter. Chicago Partners Investment Group LLC now owns 2,438 shares of the industrial products company's stock worth $218,000 after buying an additional 109 shares in the last quarter. UMB Bank n.a. boosted its stake in Ingersoll Rand by 27.0% during the fourth quarter. UMB Bank n.a. now owns 598 shares of the industrial products company's stock worth $54,000 after buying an additional 127 shares during the period. RDA Financial Network increased its holdings in Ingersoll Rand by 3.1% in the 4th quarter. RDA Financial Network now owns 4,324 shares of the industrial products company's stock valued at $391,000 after purchasing an additional 128 shares during the last quarter. FSM Wealth Advisors LLC grew its stake in shares of Ingersoll Rand by 5.8% in the fourth quarter. FSM Wealth Advisors LLC now owns 2,442 shares of the industrial products company's stock valued at $222,000 after buying an additional 134 shares in the last quarter. Finally, Park Avenue Securities LLC increased its stake in Ingersoll Rand by 3.3% during the fourth quarter. Park Avenue Securities LLC now owns 4,288 shares of the industrial products company's stock worth $388,000 after purchasing an additional 136 shares during the period. Institutional investors and hedge funds own 95.27% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

Several research analysts recently commented on IR shares. UBS Group initiated coverage on Ingersoll Rand in a research note on Wednesday, November 13th. They set a "buy" rating and a $124.00 target price for the company. Evercore ISI cut their target price on Ingersoll Rand from $100.00 to $91.00 and set an "in-line" rating on the stock in a research report on Wednesday, February 19th. Barclays reduced their target price on Ingersoll Rand from $102.00 to $96.00 and set an "overweight" rating for the company in a report on Monday. The Goldman Sachs Group lifted their target price on shares of Ingersoll Rand from $109.00 to $121.00 and gave the company a "buy" rating in a report on Thursday, December 12th. Finally, Citigroup reduced their price objective on Ingersoll Rand from $119.00 to $115.00 and set a "buy" rating for the company in a research note on Monday, January 13th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Ingersoll Rand currently has an average rating of "Moderate Buy" and an average target price of $104.25.

Ingersoll Rand Price Performance

Shares of NYSE:IR traded down $1.71 during midday trading on Monday, hitting $83.52. 4,090,449 shares of the stock were exchanged, compared to its average volume of 2,378,269. Ingersoll Rand Inc. has a twelve month low of $79.97 and a twelve month high of $106.03. The company has a current ratio of 2.29, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The company has a 50 day moving average price of $89.18 and a 200-day moving average price of $94.54. The stock has a market cap of $33.67 billion, a P/E ratio of 40.54, a PEG 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 analysts' consensus estimates of $0.85 by ($0.04). The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. On average, research analysts forecast that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders 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 annualized dividend and a yield of 0.10%. Ingersoll Rand's dividend payout ratio is currently 3.88%.

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.