Polymer Capital Management US LLC Purchases Shares of 7,213 Ingersoll Rand Inc. (NYSE:IR)

Polymer Capital Management US LLC purchased a new stake in shares of Ingersoll Rand Inc. (NYSE:IR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 7,213 shares of the industrial products company’s stock, valued at approximately $652,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Ingersoll Rand by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 45,684,016 shares of the industrial products company’s stock worth $4,132,576,000 after buying an additional 446,591 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Ingersoll Rand by 3.6% in the 4th quarter. JPMorgan Chase & Co. now owns 18,878,280 shares of the industrial products company’s stock worth $1,707,729,000 after acquiring an additional 649,102 shares during the last quarter. FMR LLC boosted its stake in shares of Ingersoll Rand by 8.2% in the 4th quarter. FMR LLC now owns 17,472,317 shares of the industrial products company’s stock valued at $1,580,546,000 after purchasing an additional 1,320,223 shares in the last quarter. Franklin Resources Inc. raised its position in Ingersoll Rand by 5.9% in the 4th quarter. Franklin Resources Inc. now owns 12,277,177 shares of the industrial products company’s stock worth $1,110,593,000 after purchasing an additional 679,856 shares during the period. Finally, Geode Capital Management LLC raised its position in Ingersoll Rand by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 9,648,574 shares of the industrial products company’s stock worth $870,503,000 after purchasing an additional 212,107 shares during the period. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Ingersoll Rand Price Performance

NYSE IR opened at $69.51 on Monday. The firm’s fifty day simple moving average is $85.05 and its two-hundred day simple moving average is $93.21. The firm has a market capitalization of $28.02 billion, a P/E ratio of 33.74, a P/E/G ratio of 3.50 and a beta of 1.40. The company has a current ratio of 2.29, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. Ingersoll Rand Inc. has a 12-month low of $67.19 and a 12-month high of $106.03.

Ingersoll Rand (NYSE:IR) last announced its 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 for the quarter, compared to analysts’ expectations of $1.91 billion. Analysts forecast that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Wednesday, March 5th were paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date was Wednesday, March 5th. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.88%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on IR. Robert W. Baird raised 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. Barclays decreased their price target on Ingersoll Rand from $96.00 to $93.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 26th. Citigroup dropped their price objective on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Evercore ISI lowered their price target on shares of Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Finally, The Goldman Sachs Group raised their price target on shares of Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Ingersoll Rand presently has a consensus rating of “Moderate Buy” and an average target price of $105.09.

Ingersoll Rand 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.