Ingersoll Rand Inc. $IR Shares Newly Purchased by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments opened a new Ingersoll Rand position, buying 119,986 shares worth about $9.0 million in the third quarter. Institutional investors and hedge funds collectively own 95.27% of the company.
• Ingersoll Rand beat quarterly earnings expectations, reporting EPS of $1.07 versus a $0.90 consensus and revenue of $2.06 billion, up 5.6% year over year.
• Analysts give the stock a Moderate Buy consensus rating and a $95 average target price; the company also declared a quarterly dividend of $0.02 per share.

Mirae Asset Global Investments Co. Ltd. acquired a new stake in Ingersoll Rand Inc. (NYSE:IR - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 119,986 shares of the industrial products company's stock, valued at approximately $9,012,000.

A number of other institutional investors have also recently made changes to their positions in the business. Fifth Third Bancorp raised its stake in shares of Ingersoll Rand by 388.7% in the first quarter. Fifth Third Bancorp now owns 81,961 shares of the industrial products company's stock valued at $6,567,000 after acquiring an additional 65,189 shares in the last quarter. Man Group plc acquired a new position in Ingersoll Rand during the 2nd quarter worth $1,675,000. Hsbc Holdings PLC grew its stake in Ingersoll Rand by 4.4% during the 1st quarter. Hsbc Holdings PLC now owns 705,454 shares of the industrial products company's stock worth $56,415,000 after purchasing an additional 29,914 shares in the last quarter. Tidal Investments LLC increased its holdings in Ingersoll Rand by 20.0% during the 2nd quarter. Tidal Investments LLC now owns 199,302 shares of the industrial products company's stock worth $16,341,000 after purchasing an additional 33,175 shares during the period. Finally, Nykredit A S purchased a new stake in Ingersoll Rand during the 2nd quarter worth about $10,077,000. Institutional investors and hedge funds own 95.27% of the company's stock.

Ingersoll Rand Stock Performance

Shares of Ingersoll Rand stock opened at $84.34 on Thursday. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.38. Ingersoll Rand Inc. has a 52 week low of $68.07 and a 52 week high of $100.96. The firm's 50 day moving average is $76.56 and its two-hundred day moving average is $81.21. The firm has a market capitalization of $32.39 billion, a P/E ratio of 23.76, a P/E/G ratio of 3.59 and a beta of 1.15.

Ingersoll Rand (NYSE:IR - Get Free Report) last issued its quarterly earnings data on Thursday, October 29th. The industrial products company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.17. Ingersoll Rand had a net margin of 17.20% and a return on equity of 13.47%. The business had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the previous year, the firm earned $0.86 EPS. The company's revenue was up 5.6% compared to the same quarter last year. Research analysts forecast that Ingersoll Rand Inc. will post 3.41 EPS for the current fiscal year.

Ingersoll Rand Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Thursday, November 12th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.1%. The ex-dividend date is Thursday, November 12th. Ingersoll Rand's dividend payout ratio (DPR) is currently 2.25%.

Analyst Ratings Changes

Several brokerages have recently issued reports on IR. Citigroup reiterated a "buy" rating on shares of Ingersoll Rand in a research note on Monday, October 12th. Morgan Stanley set a $87.00 target price on shares of Ingersoll Rand in a research note on Monday, August 10th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Ingersoll Rand in a report on Monday, October 19th. Stifel Nicolaus reiterated a "buy" rating and issued a $95.00 price target (up from $93.00) on shares of Ingersoll Rand in a research note on Monday. Finally, Wall Street Zen cut shares of Ingersoll Rand from a "buy" rating to a "hold" rating in a report on Sunday, August 2nd. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Ingersoll Rand currently has an average rating of "Moderate Buy" and a consensus target price of $95.00.

Ingersoll Rand Profile

Ingersoll Rand Inc NYSE: IR is a global provider of mission-critical industrial technologies and solutions. The company designs and manufactures equipment used to manage air, gas, fluids, and other industrial processes, serving customers in manufacturing, energy, food and beverage, life sciences, transportation, and other markets.

Its portfolio includes air compressors, vacuum and blower systems, fluid-handling equipment, pumps, dosing and dispensing systems, and related aftermarket parts and services.

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