GAM Holding AG Trims Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

GAM Holding AG decreased its position in Ingersoll Rand Inc. (NYSE:IR) by 4.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,825 shares of the industrial products company’s stock after selling 814 shares during the period. GAM Holding AG’s holdings in Ingersoll Rand were worth $1,522,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC acquired a new stake in Ingersoll Rand during the 4th quarter worth about $99,000. D.A. Davidson & CO. grew its position in Ingersoll Rand by 8.4% during the 4th quarter. D.A. Davidson & CO. now owns 4,144 shares of the industrial products company’s stock worth $375,000 after purchasing an additional 321 shares during the period. CIBC Asset Management Inc grew its position in Ingersoll Rand by 4.4% during the 4th quarter. CIBC Asset Management Inc now owns 61,467 shares of the industrial products company’s stock worth $5,560,000 after purchasing an additional 2,592 shares during the period. Sanctuary Advisors LLC grew its position in Ingersoll Rand by 2.6% during the 4th quarter. Sanctuary Advisors LLC now owns 22,798 shares of the industrial products company’s stock worth $2,143,000 after purchasing an additional 575 shares during the period. Finally, Allworth Financial LP grew its position in Ingersoll Rand by 30.9% during the 4th quarter. Allworth Financial LP now owns 4,456 shares of the industrial products company’s stock worth $420,000 after purchasing an additional 1,052 shares during the period. 95.27% of the stock is owned by institutional investors and hedge funds.

Ingersoll Rand Trading Up 1.1 %

IR stock opened at $86.66 on Wednesday. The company has a current ratio of 2.36, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. Ingersoll Rand Inc. has a 12-month low of $83.72 and a 12-month high of $106.03. The stock has a market cap of $34.92 billion, a price-to-earnings ratio of 42.27, a PEG ratio of 3.66 and a beta of 1.43. The business’s 50-day moving average is $92.11 and its 200 day moving average is $95.08.

Ingersoll Rand (NYSE:IR) last posted 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 return on equity of 13.01% and a net margin of 11.72%. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. On average, sell-side analysts anticipate that Ingersoll Rand Inc. will post 3.2 EPS 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. 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 0.09%. The ex-dividend date of this dividend is Wednesday, March 5th. Ingersoll Rand’s payout ratio is 3.90%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on IR shares. Stifel Nicolaus cut their price target on Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating on the stock in a research report on Tuesday. UBS Group started coverage on Ingersoll Rand in a research report on Wednesday, November 13th. They set a “buy” rating and a $124.00 target price on the stock. Barclays dropped their target price on Ingersoll Rand from $115.00 to $102.00 and set an “overweight” rating on the stock in a research report on Tuesday. Robert W. Baird raised their target price on Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, Wells Fargo & Company dropped their target price on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Ingersoll Rand has an average rating of “Moderate Buy” and an average price target of $104.50.

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.