Sequoia Financial Advisors LLC Boosts Position in Ingersoll Rand Inc. (NYSE:IR)

Sequoia Financial Advisors LLC grew its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 9.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 5,619 shares of the industrial products company’s stock after acquiring an additional 507 shares during the period. Sequoia Financial Advisors LLC’s holdings in Ingersoll Rand were worth $508,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of IR. JPMorgan Chase & Co. increased its holdings in Ingersoll Rand by 8.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 18,229,178 shares of the industrial products company’s stock worth $1,789,376,000 after acquiring an additional 1,462,538 shares during the period. FMR LLC grew its position in shares of Ingersoll Rand by 10.5% during the 3rd quarter. FMR LLC now owns 16,152,094 shares of the industrial products company’s stock valued at $1,585,489,000 after purchasing an additional 1,538,056 shares in the last quarter. State Street Corp increased its holdings in shares of Ingersoll Rand by 0.7% in the third quarter. State Street Corp now owns 15,776,908 shares of the industrial products company’s stock worth $1,548,661,000 after purchasing an additional 112,824 shares during the period. Franklin Resources Inc. raised its position in shares of 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 worth $1,207,554,000 after buying an additional 278,710 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Ingersoll Rand by 0.6% during the third quarter. Geode Capital Management LLC now owns 9,436,467 shares of the industrial products company’s stock valued at $923,087,000 after buying an additional 54,952 shares during the period. 95.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on IR shares. Robert W. Baird upped their target price on Ingersoll Rand from $105.00 to $111.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Wells Fargo & Company lowered 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. Citigroup cut their price target 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. Barclays lowered their price objective on shares of Ingersoll Rand from $102.00 to $96.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. Finally, 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 report on Wednesday, February 19th. 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, Ingersoll Rand currently has a consensus rating of “Moderate Buy” and an average target price of $105.36.

Ingersoll Rand Stock Performance

NYSE IR opened at $82.95 on Tuesday. The company has a 50-day simple moving average of $88.13 and a two-hundred day simple moving average of $94.19. Ingersoll Rand Inc. has a 12-month low of $79.79 and a 12-month high of $106.03. The firm has a market cap of $33.43 billion, a price-to-earnings ratio of 40.27, a PEG ratio of 3.50 and a beta of 1.48. The company has a quick ratio of 1.71, a current ratio of 2.29 and a debt-to-equity ratio of 0.46.

Ingersoll Rand (NYSE:IR) last issued its earnings results on Thursday, February 13th. The industrial products company reported $0.81 earnings per share 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 company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. On average, equities analysts forecast that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.02 per share. 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 currently 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.