Proficio Capital Partners LLC Makes New Investment in Ingersoll Rand Inc. (NYSE:IR)

Proficio Capital Partners LLC bought a new stake in Ingersoll Rand Inc. (NYSE:IR) in the fourth quarter, HoldingsChannel reports. The fund bought 131,185 shares of the industrial products company’s stock, valued at approximately $131,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted 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 buying an additional 1,462,538 shares during the last quarter. State Street Corp lifted its holdings in 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. lifted its position 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 during the period. 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 in the last quarter. Finally, Fisher Asset Management LLC lifted its stake in Ingersoll Rand by 1.2% during the fourth quarter. Fisher Asset Management LLC now owns 6,825,518 shares of the industrial products company’s stock valued at $617,436,000 after purchasing an additional 80,679 shares during the last quarter. 95.27% of the stock is owned by institutional investors and hedge funds.

Ingersoll Rand Trading Down 2.4 %

IR stock opened at $79.38 on Friday. The business has a fifty day moving average of $86.69 and a 200-day moving average of $93.66. Ingersoll Rand Inc. has a twelve month low of $79.03 and a twelve month high of $106.03. The company has a market cap of $32.00 billion, a P/E ratio of 38.53, 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 released its quarterly earnings data 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). The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. As a group, equities research analysts expect that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.02 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.08 annualized dividend and a dividend yield of 0.10%. Ingersoll Rand’s dividend payout ratio is currently 3.88%.

Analyst Upgrades and Downgrades

IR has been the subject of several research reports. Barclays reduced their price objective on Ingersoll Rand from $96.00 to $93.00 and set an “overweight” rating for the company in a research note on Wednesday. Wells Fargo & Company lowered their target price on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Evercore ISI reduced their price target on Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Robert W. Baird increased their price objective on Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Finally, Stifel Nicolaus cut their price target on Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating for the company in a report on Tuesday, February 18th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $105.09.

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.