AXQ Capital LP Takes Position in Ingersoll Rand Inc. (NYSE:IR)

AXQ Capital LP bought a new stake in shares of Ingersoll Rand Inc. (NYSE:IR) in the 4th quarter, Holdings Channel reports. The fund bought 3,183 shares of the industrial products company’s stock, valued at approximately $288,000.

Several other large investors also recently modified their holdings of IR. FMR LLC grew its stake in shares of Ingersoll Rand by 10.5% during the third quarter. FMR LLC now owns 16,152,094 shares of the industrial products company’s stock valued at $1,585,489,000 after acquiring an additional 1,538,056 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Ingersoll Rand by 8.7% in the third quarter. JPMorgan Chase & Co. now owns 18,229,178 shares of the industrial products company’s stock worth $1,789,376,000 after purchasing an additional 1,462,538 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Ingersoll Rand in the fourth quarter worth about $45,004,000. Amundi grew its stake in Ingersoll Rand by 17.0% in the fourth quarter. Amundi now owns 2,162,728 shares of the industrial products company’s stock worth $192,980,000 after purchasing an additional 313,674 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in 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 purchasing an additional 278,710 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Stifel Nicolaus decreased their price target 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. Robert W. Baird lifted their price target on Ingersoll Rand from $105.00 to $111.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Evercore ISI decreased their price target on Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. 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, March 10th. Finally, Citigroup decreased their target price 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. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Ingersoll Rand has an average rating of “Moderate Buy” and a consensus target price of $105.36.

Ingersoll Rand Stock Performance

IR opened at $81.00 on Monday. The business’s 50 day moving average is $87.56 and its 200-day moving average is $93.96. The stock has a market cap of $32.65 billion, a PE ratio of 39.32, 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 $79.79 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 firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.10%. Ingersoll Rand’s dividend payout ratio (DPR) 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.