Zurcher Kantonalbank Zurich Cantonalbank Raises Position in Ingersoll Rand Inc. (NYSE:IR)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Ingersoll Rand Inc. (NYSE:IR) by 3.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 192,151 shares of the industrial products company’s stock after purchasing an additional 6,195 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Ingersoll Rand were worth $17,382,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Atria Investments Inc increased its position in Ingersoll Rand by 18.5% in the third quarter. Atria Investments Inc now owns 13,381 shares of the industrial products company’s stock worth $1,313,000 after buying an additional 2,087 shares in the last quarter. Sigma Planning Corp increased its holdings in Ingersoll Rand by 11.2% in the 3rd quarter. Sigma Planning Corp now owns 12,363 shares of the industrial products company’s stock worth $1,214,000 after acquiring an additional 1,249 shares in the last quarter. Crossmark Global Holdings Inc. raised its stake in Ingersoll Rand by 4.7% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 24,682 shares of the industrial products company’s stock worth $2,423,000 after acquiring an additional 1,118 shares during the period. Los Angeles Capital Management LLC purchased a new position in Ingersoll Rand during the third quarter valued at approximately $201,000. Finally, Ashton Thomas Securities LLC bought a new position in shares of Ingersoll Rand in the third quarter worth approximately $34,000. 95.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on IR shares. Barclays cut 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. Stifel Nicolaus cut their target price on Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating for the company in a research report on Tuesday, February 18th. UBS Group started coverage on Ingersoll Rand in a report on Wednesday, November 13th. They issued a “buy” rating and a $124.00 price target on the stock. Citigroup cut their price objective on shares of Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, Wells Fargo & Company lowered their target price on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $104.25.

Ingersoll Rand Stock Performance

Shares of NYSE:IR opened at $82.90 on Wednesday. The company has a current ratio of 2.29, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. 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. Ingersoll Rand Inc. has a 12 month low of $79.97 and a 12 month high of $106.03. The firm’s 50-day moving average is $88.89 and its 200 day moving average is $94.44.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings results 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). Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Research analysts predict that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.02 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.08 annualized dividend and a dividend yield of 0.10%. Ingersoll Rand’s dividend payout ratio (DPR) 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.