GC Wealth Management RIA LLC Lowers Holdings in Ingersoll Rand Inc. (NYSE:IR)

GC Wealth Management RIA LLC decreased its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 32.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,937 shares of the industrial products company’s stock after selling 2,875 shares during the quarter. GC Wealth Management RIA LLC’s holdings in Ingersoll Rand were worth $537,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. FMR LLC raised its stake in shares of Ingersoll Rand by 10.5% in the third quarter. FMR LLC now owns 16,152,094 shares of the industrial products company’s stock worth $1,585,489,000 after purchasing an additional 1,538,056 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of 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 during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Ingersoll Rand in the fourth quarter worth $45,004,000. Amundi grew its holdings in shares of 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 acquiring an additional 313,674 shares during the period. Finally, Franklin Resources Inc. grew its holdings 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 acquiring an additional 278,710 shares during the period. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on IR. Citigroup cut their price objective on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a report on Monday, January 13th. Barclays cut their price objective on Ingersoll Rand from $102.00 to $96.00 and set an “overweight” rating for the company in a report on Monday. UBS Group began coverage on Ingersoll Rand in a report on Wednesday, November 13th. They issued a “buy” rating and a $124.00 price objective for the company. Stifel Nicolaus cut their price objective on Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating for the company in a report on Tuesday, February 18th. Finally, Evercore ISI cut their price objective 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. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $104.25.

Ingersoll Rand Price Performance

Shares of Ingersoll Rand stock opened at $82.90 on Wednesday. The stock’s 50-day simple moving average is $88.89 and its 200-day simple moving average is $94.44. Ingersoll Rand Inc. has a 52 week low of $79.97 and a 52 week high of $106.03. The company has a market capitalization of $33.42 billion, a price-to-earnings ratio of 40.24, 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 announced its quarterly earnings data on Thursday, February 13th. The industrial products company reported $0.81 EPS 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 business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. As a group, analysts expect that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Wednesday, March 5th will be given a $0.02 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.08 annualized dividend and a dividend 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.