Wealthfront Advisers LLC Boosts Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

Wealthfront Advisers LLC lifted its position in Ingersoll Rand Inc. (NYSE:IR) by 152.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 63,133 shares of the industrial products company’s stock after buying an additional 38,103 shares during the period. Wealthfront Advisers LLC’s holdings in Ingersoll Rand were worth $5,711,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Miller Financial Services LLC purchased a new position in shares of Ingersoll Rand in the 4th quarter worth approximately $539,000. Independent Advisor Alliance boosted its stake in Ingersoll Rand by 16.7% in the 4th quarter. Independent Advisor Alliance now owns 9,518 shares of the industrial products company’s stock worth $861,000 after purchasing an additional 1,364 shares in the last quarter. Johnson Investment Counsel Inc. boosted its stake in Ingersoll Rand by 27.6% in the 4th quarter. Johnson Investment Counsel Inc. now owns 7,435 shares of the industrial products company’s stock worth $673,000 after purchasing an additional 1,608 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in Ingersoll Rand by 49.0% in the 4th quarter. Daiwa Securities Group Inc. now owns 135,292 shares of the industrial products company’s stock worth $12,238,000 after purchasing an additional 44,465 shares in the last quarter. Finally, Main Street Research LLC boosted its stake in Ingersoll Rand by 2.3% in the 4th quarter. Main Street Research LLC now owns 365,501 shares of the industrial products company’s stock worth $33,063,000 after purchasing an additional 8,352 shares in the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Wells Fargo & Company lowered their target price on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Citigroup decreased their price objective 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. 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 research note on Tuesday, February 18th. 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 research note on Thursday, December 12th. Finally, UBS Group assumed coverage on shares of Ingersoll Rand in a research note on Wednesday, November 13th. They set a “buy” rating and a $124.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Ingersoll Rand currently has an average rating of “Moderate Buy” and a consensus price target of $105.36.

Ingersoll Rand Price Performance

NYSE:IR opened at $81.48 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 firm has a market cap of $32.84 billion, a price-to-earnings ratio of 39.55, a price-to-earnings-growth ratio of 3.50 and a beta of 1.48. The company has a 50 day moving average price of $88.71 and a 200-day moving average price of $94.34. Ingersoll Rand Inc. has a 1-year low of $79.97 and a 1-year high of $106.03.

Ingersoll Rand (NYSE:IR) last issued its quarterly 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 company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. Equities research analysts forecast that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Wednesday, March 5th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.10%. The ex-dividend date of this dividend is Wednesday, March 5th. Ingersoll Rand’s payout ratio is presently 3.88%.

About Ingersoll Rand

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.