CIBC Asset Management Inc Purchases 2,592 Shares of Ingersoll Rand Inc. (NYSE:IR)

CIBC Asset Management Inc grew its position in Ingersoll Rand Inc. (NYSE:IR) by 4.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 61,467 shares of the industrial products company’s stock after acquiring an additional 2,592 shares during the period. CIBC Asset Management Inc’s holdings in Ingersoll Rand were worth $5,560,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new position in shares of Ingersoll Rand in the 3rd quarter valued at $34,000. Eastern Bank bought a new position in shares of Ingersoll Rand in the 3rd quarter valued at $42,000. UMB Bank n.a. lifted its stake in shares of Ingersoll Rand by 27.0% in the 4th quarter. UMB Bank n.a. now owns 598 shares of the industrial products company’s stock valued at $54,000 after acquiring an additional 127 shares during the last quarter. Princeton Global Asset Management LLC bought a new position in shares of Ingersoll Rand in the 3rd quarter valued at $65,000. Finally, Versant Capital Management Inc increased its holdings in Ingersoll Rand by 654.4% in the fourth quarter. Versant Capital Management Inc now owns 679 shares of the industrial products company’s stock valued at $61,000 after purchasing an additional 589 shares during the period. 95.27% of the stock is currently owned by institutional investors.

Ingersoll Rand Stock Performance

Shares of IR opened at $85.76 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.29 and a quick ratio of 1.71. The stock has a 50-day moving average of $91.79 and a 200-day moving average of $95.01. The company has a market cap of $34.56 billion, a PE ratio of 41.63, a P/E/G ratio of 3.40 and a beta of 1.43. Ingersoll Rand Inc. has a one year low of $83.72 and a one year high of $106.03.

Ingersoll Rand (NYSE:IR) last issued its earnings results 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). The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. On average, equities research analysts predict that Ingersoll Rand Inc. will post 3.3 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. Stockholders of record on Wednesday, March 5th will be paid a $0.02 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Ingersoll Rand’s dividend payout ratio is presently 3.88%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on IR shares. Robert W. Baird increased their price objective on Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a report on Tuesday. Stifel Nicolaus decreased their price objective on Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating for the company in a report on Tuesday. Citigroup decreased their price objective on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a report on Monday, January 13th. The Goldman Sachs Group increased their price objective on Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Finally, Barclays decreased their price objective on Ingersoll Rand from $115.00 to $102.00 and set an “overweight” rating for the company in a report on Tuesday. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $104.75.

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.