Ingersoll Rand Inc. $IR Stock: International Assets Investment Management LLC Increases Stake

Key Points

• International Assets Investment Management increased its Ingersoll Rand stake by 712.7% in the third quarter, bringing its holdings to 28,745 shares valued at approximately $2.16 million. Institutional investors collectively own 95.27% of the company.
• Ingersoll Rand reported quarterly EPS of $1.07, beating analyst expectations of $0.90, while revenue rose 5.6% year over year to $2.06 billion.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $95, compared with the stock’s reported price of $82.78; the company also announced a quarterly dividend of $0.02 per share.

International Assets Investment Management LLC boosted its position in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 712.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,745 shares of the industrial products company's stock after acquiring an additional 25,208 shares during the period. International Assets Investment Management LLC's holdings in Ingersoll Rand were worth $2,159,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Fifth Third Bancorp boosted its stake in Ingersoll Rand by 388.7% during the 1st quarter. Fifth Third Bancorp now owns 81,961 shares of the industrial products company's stock valued at $6,567,000 after purchasing an additional 65,189 shares during the period. Man Group plc acquired a new stake in Ingersoll Rand in the 2nd quarter valued at approximately $1,675,000. Hsbc Holdings PLC increased its position in Ingersoll Rand by 4.4% in the 1st quarter. Hsbc Holdings PLC now owns 705,454 shares of the industrial products company's stock worth $56,415,000 after buying an additional 29,914 shares during the period. Tidal Investments LLC increased its position in Ingersoll Rand by 20.0% in the 2nd quarter. Tidal Investments LLC now owns 199,302 shares of the industrial products company's stock worth $16,341,000 after buying an additional 33,175 shares during the period. Finally, Nykredit A S acquired a new position in shares of Ingersoll Rand during the second quarter worth approximately $10,077,000. 95.27% of the stock is currently owned by institutional investors.

Ingersoll Rand Stock Up 3.4%

IR stock opened at $82.78 on Tuesday. Ingersoll Rand Inc. has a twelve month low of $68.07 and a twelve month high of $100.96. The company has a quick ratio of 1.15, a current ratio of 1.62 and a debt-to-equity ratio of 0.40. The company has a market cap of $32.12 billion, a PE ratio of 22.66, a price-to-earnings-growth ratio of 3.13 and a beta of 1.15. The business's 50-day simple moving average is $76.36 and its 200 day simple moving average is $81.23.

Ingersoll Rand (NYSE:IR - Get Free Report) last posted its quarterly earnings results on Thursday, October 29th. The industrial products company reported $1.07 EPS for the quarter, beating the consensus estimate of $0.90 by $0.17. Ingersoll Rand had a return on equity of 12.90% and a net margin of 12.08%. The firm had revenue of $2.06 billion during the quarter, compared to analysts' expectations of $2.05 billion. During the same quarter in the prior year, the firm posted $0.86 EPS. The company's revenue for the quarter was up 5.6% on a year-over-year basis. On average, research analysts anticipate that Ingersoll Rand Inc. will post 3.41 earnings per share for the current year.

Ingersoll Rand Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Thursday, November 12th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date is Thursday, November 12th. Ingersoll Rand's dividend payout ratio is presently 2.25%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on IR. Weiss Ratings reissued a "hold (c)" rating on shares of Ingersoll Rand in a research report on Monday, October 19th. Citigroup restated a "buy" rating on shares of Ingersoll Rand in a research note on Monday, October 12th. Wall Street Zen lowered shares of Ingersoll Rand from a "buy" rating to a "hold" rating in a research report on Sunday, August 2nd. Morgan Stanley set a $87.00 target price on shares of Ingersoll Rand in a research note on Monday, August 10th. Finally, Robert W. Baird cut their target price on shares of Ingersoll Rand from $109.00 to $107.00 and set an "outperform" rating for the company in a research note on Monday. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Ingersoll Rand has a consensus rating of "Moderate Buy" and a consensus price target 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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