Venturi Wealth Management LLC Takes Position in Ingersoll Rand Inc. (NYSE:IR)

Venturi Wealth Management LLC bought a new stake in shares of Ingersoll Rand Inc. (NYSE:IR) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,093 shares of the industrial products company’s stock, valued at approximately $99,000.

A number of other hedge funds have also recently modified their holdings of the stock. JPMorgan Chase & Co. boosted 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 acquiring an additional 1,462,538 shares during the last quarter. FMR LLC grew its position 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 valued at $1,585,489,000 after purchasing an additional 1,538,056 shares in the last quarter. State Street Corp lifted its position in Ingersoll Rand by 0.7% during 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 buying an additional 112,824 shares in the last quarter. Franklin Resources Inc. boosted its stake in Ingersoll Rand by 2.5% during 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 buying an additional 278,710 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Ingersoll Rand by 0.6% in the 3rd 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. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Analysts Set New Price Targets

IR has been the topic of several recent analyst reports. UBS Group assumed coverage on shares of Ingersoll Rand in a report on Wednesday, November 13th. They issued a “buy” rating and a $124.00 target price on the stock. Barclays cut their target price on Ingersoll Rand from $115.00 to $102.00 and set an “overweight” rating for the company in a research note on Tuesday, February 18th. Wells Fargo & Company dropped their price target on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Robert W. Baird lifted their price objective on Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Finally, The Goldman Sachs Group upped their target price on shares of Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $104.75.

Ingersoll Rand Trading Down 3.6 %

NYSE IR opened at $83.66 on Monday. Ingersoll Rand Inc. has a 52-week low of $83.26 and a 52-week high of $106.03. The firm has a 50-day moving average price of $91.15 and a 200 day moving average price of $95.03. The stock has a market capitalization of $33.72 billion, a P/E ratio of 40.61, a P/E/G ratio of 3.50 and a beta of 1.43. 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 results on Thursday, February 13th. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Equities research analysts expect that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Wednesday, March 5th will be given a $0.02 dividend. 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 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.