Miller Financial Services LLC Makes New Investment in Ingersoll Rand Inc. (NYSE:IR)

Miller Financial Services LLC purchased a new position in Ingersoll Rand Inc. (NYSE:IR - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 5,954 shares of the industrial products company's stock, valued at approximately $539,000.

Other hedge funds have also recently made changes to their positions in the company. FMR LLC boosted its stake in 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. boosted its position in shares of Ingersoll Rand by 8.7% in 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. Raymond James Financial Inc. purchased a new position in Ingersoll Rand during the 4th quarter worth $45,004,000. Amundi increased its position in Ingersoll Rand by 17.0% during the 4th quarter. Amundi now owns 2,162,728 shares of the industrial products company's stock valued at $192,980,000 after buying an additional 313,674 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in 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 valued at $1,207,554,000 after buying an additional 278,710 shares during the last quarter. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Robert W. Baird boosted their price target on Ingersoll Rand from $105.00 to $111.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 18th. Evercore ISI reduced their target price on 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. Stifel Nicolaus lowered their price target on 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 cut their price objective on Ingersoll Rand from $102.00 to $96.00 and set an "overweight" rating on the stock in a report on Monday. Finally, Wells Fargo & Company decreased their target price on Ingersoll Rand from $115.00 to $105.00 and set an "overweight" rating for the company in a report on Tuesday, January 7th. Six equities 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, Ingersoll Rand currently has a consensus rating of "Moderate Buy" and an average target price of $105.36.

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Ingersoll Rand Stock Performance

Shares of IR traded down $1.54 during trading hours on Thursday, hitting $79.95. The stock had a trading volume of 2,180,503 shares, compared to its average volume of 2,380,877. The firm has a market capitalization of $32.23 billion, a price-to-earnings ratio of 38.81, a PEG ratio of 3.50 and a beta of 1.48. 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 firm has a 50-day moving average price of $88.50 and a 200 day moving average price of $94.24. Ingersoll Rand Inc. has a fifty-two week low of $79.79 and a fifty-two week high of $106.03.

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

Ingersoll Rand Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Wednesday, March 5th will be given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. The ex-dividend date is Wednesday, March 5th. Ingersoll Rand's dividend payout ratio (DPR) is presently 3.88%.

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.