Raymond James Financial Inc. Buys New Stake in Ingersoll Rand Inc. (NYSE:IR)

Raymond James Financial Inc. bought a new stake in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 497,501 shares of the industrial products company's stock, valued at approximately $45,004,000. Raymond James Financial Inc. owned 0.12% of Ingersoll Rand at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC increased its holdings 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 buying an additional 1,538,056 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Ingersoll Rand by 8.7% in the third quarter. JPMorgan Chase & Co. now owns 18,229,178 shares of the industrial products company's stock valued at $1,789,376,000 after buying an additional 1,462,538 shares in the last quarter. Franklin Resources Inc. increased its holdings 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 in the last quarter. Nordea Investment Management AB increased its holdings in 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 buying an additional 271,381 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in Ingersoll Rand in the fourth quarter valued at $131,000. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Ingersoll Rand Stock Down 0.7 %

Shares of NYSE IR opened at $82.90 on Wednesday. Ingersoll Rand Inc. has a 12-month low of $79.97 and a 12-month high of $106.03. The stock has a market cap of $33.42 billion, a PE ratio of 40.24, a P/E/G ratio of 3.50 and a beta of 1.48. 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 of $88.89 and a 200 day moving average of $94.44.

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Ingersoll Rand (NYSE:IR - Get Free Report) last announced its quarterly earnings data 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 analysts' expectations of $1.91 billion. As a group, sell-side analysts predict that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

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

Analysts Set New Price Targets

IR has been the subject of a number of recent analyst reports. The Goldman Sachs Group lifted their price objective 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. Robert W. Baird lifted their price objective on shares of Ingersoll Rand from $105.00 to $111.00 and gave the company an "outperform" rating in a report on Tuesday, February 18th. Citigroup cut their target price on shares of Ingersoll Rand from $119.00 to $115.00 and set a "buy" rating for the company in a research note on Monday, January 13th. Evercore ISI cut their target price 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. Finally, Barclays cut their target price on shares of Ingersoll Rand from $102.00 to $96.00 and set an "overweight" rating for the company in a research note on Monday. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ingersoll Rand currently has an average rating of "Moderate Buy" and a consensus price target of $104.25.

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.

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