Venturi Wealth Management LLC Takes $99,000 Position in Ingersoll Rand Inc. (NYSE:IR)

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

Other hedge funds also recently bought and sold shares of the company. Sequoia Financial Advisors LLC increased its position in shares of Ingersoll Rand by 13.9% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,112 shares of the industrial products company’s stock valued at $502,000 after purchasing an additional 623 shares during the last quarter. Eastern Bank purchased a new position in shares of Ingersoll Rand during the third quarter worth approximately $42,000. Private Advisor Group LLC lifted its holdings in shares of Ingersoll Rand by 4.6% in the 3rd quarter. Private Advisor Group LLC now owns 7,501 shares of the industrial products company’s stock worth $736,000 after acquiring an additional 327 shares during the last quarter. Brighton Jones LLC boosted its stake in shares of Ingersoll Rand by 11.5% in the 3rd quarter. Brighton Jones LLC now owns 3,186 shares of the industrial products company’s stock valued at $313,000 after purchasing an additional 329 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Ingersoll Rand by 13.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 14,964 shares of the industrial products company’s stock valued at $1,469,000 after purchasing an additional 1,732 shares during the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Price Performance

Shares of NYSE:IR opened at $83.66 on Monday. The firm’s 50 day simple moving average is $91.15 and its two-hundred day simple moving average is $95.03. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.29 and a quick ratio of 1.71. The company 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. Ingersoll Rand Inc. has a 1-year low of $83.26 and a 1-year high of $106.03.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings results on Thursday, February 13th. The industrial products company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates 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 expect that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Wednesday, March 5th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.10%. The ex-dividend date is Wednesday, March 5th. Ingersoll Rand’s dividend payout ratio is presently 3.88%.

Analysts Set New Price Targets

A number of brokerages have issued reports on IR. Barclays cut their price target on shares of Ingersoll Rand from $115.00 to $102.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. The Goldman Sachs Group increased their price objective on Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Evercore ISI reduced their target price on Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 19th. UBS Group initiated coverage on Ingersoll Rand in a research note on Wednesday, November 13th. They issued a “buy” rating and a $124.00 price target for the company. Finally, Robert W. Baird boosted their price objective on shares of Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $104.75.

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.