Essential Planning LLC. Takes $3.07 Million Position in Ingersoll Rand Inc. (NYSE:IR)

Essential Planning LLC. bought a new stake in shares of Ingersoll Rand Inc. (NYSE:IR) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 30,810 shares of the industrial products company’s stock, valued at approximately $3,067,000.

Several other large investors also recently modified their holdings of IR. Ashton Thomas Securities LLC acquired a new stake in shares of Ingersoll Rand during the third quarter valued at about $34,000. OFI Invest Asset Management acquired a new position in Ingersoll Rand in the fourth quarter worth about $38,000. UMB Bank n.a. grew its stake in Ingersoll Rand by 27.0% in the fourth quarter. UMB Bank n.a. now owns 598 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 127 shares in the last quarter. Versant Capital Management Inc grew its stake 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 worth $61,000 after purchasing an additional 589 shares in the last quarter. Finally, Venturi Wealth Management LLC acquired a new position in Ingersoll Rand in the fourth quarter worth about $99,000. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on IR. Citigroup decreased their price target on 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 decreased their price target on Ingersoll Rand from $102.00 to $96.00 and set an “overweight” rating for the company in a research note on Monday. Wells Fargo & Company decreased their price target on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Stifel Nicolaus decreased their target price on Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating for the company in a research note on Tuesday, February 18th. Finally, The Goldman Sachs Group lifted their target price on Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Ingersoll Rand currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.36.

Ingersoll Rand Stock Performance

IR opened at $81.48 on Thursday. The business’s 50 day moving average is $88.71 and its 200-day moving average is $94.34. The stock has a market cap of $32.84 billion, a PE ratio of 39.55, a price-to-earnings-growth ratio of 3.50 and a beta of 1.48. The company has a current ratio of 2.29, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. Ingersoll Rand Inc. has a twelve month low of $79.97 and a twelve month high of $106.03.

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

Ingersoll Rand Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Wednesday, March 5th will be issued 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 3.88%.

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.