Petros Family Wealth LLC Acquires New Stake in Ingersoll Rand Inc. (NYSE:IR)

Petros Family Wealth LLC purchased a new position in Ingersoll Rand Inc. (NYSE:IR - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,656 shares of the industrial products company's stock, valued at approximately $331,000.

A number of other hedge funds have also added to or reduced their stakes in IR. Orion Portfolio Solutions LLC increased its position in Ingersoll Rand by 11.4% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 12,259 shares of the industrial products company's stock valued at $1,203,000 after buying an additional 1,259 shares in the last quarter. MML Investors Services LLC lifted its holdings in shares of Ingersoll Rand by 504.0% during the 3rd quarter. MML Investors Services LLC now owns 49,188 shares of the industrial products company's stock valued at $4,828,000 after buying an additional 41,044 shares during the period. M&T Bank Corp grew its holdings in shares of Ingersoll Rand by 1.1% in the third quarter. M&T Bank Corp now owns 30,088 shares of the industrial products company's stock worth $2,953,000 after acquiring an additional 329 shares during the period. Coldstream Capital Management Inc. lifted its holdings in Ingersoll Rand by 9.2% in the third quarter. Coldstream Capital Management Inc. now owns 7,601 shares of the industrial products company's stock valued at $750,000 after acquiring an additional 639 shares during the period. Finally, Virtu Financial LLC bought a new stake in Ingersoll Rand during the third quarter valued at about $864,000. 95.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Citigroup reduced their target price on shares of Ingersoll Rand from $109.00 to $88.00 and set a "buy" rating for the company in a report on Monday. Barclays lowered their price objective on Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Stifel Nicolaus dropped their price objective on Ingersoll Rand from $94.00 to $77.00 and set a "hold" rating for the company in a research note on Monday. Robert W. Baird lifted their target price on Ingersoll Rand from $105.00 to $111.00 and gave the company an "outperform" rating in a research note on Tuesday, February 18th. Finally, Wells Fargo & Company cut their price objective on shares of Ingersoll Rand from $115.00 to $105.00 and set an "overweight" rating for the company in a report on Tuesday, January 7th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $100.36.

Remove Ads

Ingersoll Rand Stock Performance

Shares of Ingersoll Rand stock traded down $1.40 on Wednesday, reaching $71.43. 1,353,725 shares of the stock were exchanged, compared to its average volume of 2,841,678. The company has a quick ratio of 1.71, a current ratio of 2.29 and a debt-to-equity ratio of 0.46. The business has a 50 day moving average price of $81.17 and a two-hundred day moving average price of $91.62. Ingersoll Rand Inc. has a twelve month low of $65.61 and a twelve month high of $106.03. The firm has a market capitalization of $28.79 billion, a price-to-earnings ratio of 34.67, a PEG ratio of 3.50 and a beta of 1.40.

Ingersoll Rand (NYSE:IR - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The industrial products company reported $0.81 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 company had revenue of $1.90 billion during the quarter, compared to analysts' expectations of $1.91 billion. Analysts anticipate that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Wednesday, March 5th were paid a $0.02 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.08 dividend on an annualized basis and a yield of 0.11%. Ingersoll Rand's dividend payout ratio is currently 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.