Raymond James Financial Inc. Buys Shares of 497,501 Ingersoll Rand Inc. (NYSE:IR)

Raymond James Financial Inc. bought a new stake in Ingersoll Rand Inc. (NYSE:IR) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 497,501 shares of the industrial products company’s stock, valued at approximately $45,004,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its holdings in 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 valued at $1,789,376,000 after purchasing an additional 1,462,538 shares during the last quarter. FMR LLC lifted its holdings in shares of Ingersoll Rand by 10.5% in the 3rd quarter. FMR LLC now owns 16,152,094 shares of the industrial products company’s stock worth $1,585,489,000 after acquiring an additional 1,538,056 shares during the last quarter. State Street Corp lifted its holdings in shares of Ingersoll Rand by 0.7% in the 3rd quarter. State Street Corp now owns 15,776,908 shares of the industrial products company’s stock worth $1,548,661,000 after acquiring an additional 112,824 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Ingersoll Rand by 2.5% in the 3rd quarter. Franklin Resources Inc. now owns 11,597,321 shares of the industrial products company’s stock worth $1,207,554,000 after acquiring an additional 278,710 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Ingersoll Rand by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 9,436,467 shares of the industrial products company’s stock worth $923,087,000 after acquiring an additional 54,952 shares during the last quarter. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Ingersoll Rand Trading Down 0.7 %

Shares of NYSE:IR opened at $82.90 on Wednesday. Ingersoll Rand Inc. has a 52 week low of $79.97 and a 52 week high of $106.03. The company’s 50 day moving average is $88.89 and its two-hundred day moving average is $94.44. 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 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.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings data on Thursday, February 13th. The industrial products company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Equities analysts predict that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders 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 of this dividend is Wednesday, March 5th. Ingersoll Rand’s dividend payout ratio is presently 3.88%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on IR. Stifel Nicolaus decreased their price objective on shares of Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating on the stock in a report on Tuesday, February 18th. The Goldman Sachs Group upped their price objective on shares of Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. UBS Group began coverage on shares of Ingersoll Rand in a report on Wednesday, November 13th. They issued a “buy” rating and a $124.00 price objective on the stock. Wells Fargo & Company cut their target price on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Finally, Robert W. Baird upped their target price on shares of Ingersoll Rand from $105.00 to $111.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $104.25.

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.