Ingersoll Rand Inc. (NYSE:IR), a renowned industrial products company, has attracted the attention of Fisher Asset Management LLC. According to its recent filing with the Securities & Exchange Commission, Fisher Asset Management LLC raised its holdings in Ingersoll Rand by 6.3% during the first quarter of this year, further solidifying their position as an institutional investor. With the purchase of an additional 304,499 shares, Fisher Asset Management now owns 5,168,748 shares of Ingersoll Rand, which accounts for approximately 1.28% of the company’s overall worth at $300,718,000 as of the end of the most recent quarter.
The increased interest from Fisher Asset Management comes at a time when IR has been receiving attention from various research reports. StockNews.com recently upgraded Ingersoll Rand from a “hold” rating to a “buy” rating on July 7th. This positive sentiment was further reinforced by Wells Fargo & Company and Citigroup raising their price targets on Ingersoll Rand to $71.00 and $75.00 respectively on July 10th. Stifel Nicolaus also joined in by increasing their target price from $61.00 to $71.00 and maintaining a “hold” rating for the company in a research note issued on Wednesday beforehand. Robert W. Baird also lifted their target price from $62.00 to $66.00 on May 5th.
These research reports have garnered significant attention as they contribute to Bloomberg’s consensus rating of “Moderate Buy” for Ingersoll Rand stock, with an average target price set at $66.11 – making it an attractive investment opportunity.
On Thursday morning, IR opened at $65.72 – showing promising growth potential for investors looking to capitalize on this upswing momentum within the industrial products market segment.
Interestingly enough, Ingersoll Rand’s stock performance has ranged widely over the past year, from a low of $42.20 to a high of $67.18. Despite this volatility, the company has remained resilient and continues to show promise for investors.
In regards to its financial standing, Ingersoll Rand boasts a steady debt-to-equity ratio of 0.29, indicating a conservative approach to managing its financial obligations. Furthermore, the company demonstrates strong liquidity with a quick ratio of 1.50 and a current ratio of 2.16 – highlighting its ability to cover short-term liabilities.
In terms of market perception, Ingersoll Rand holds a solid position in the industry with a market capitalization of $26.59 billion. This substantial market capitalization indicates investor confidence in the company’s ability to deliver strong returns.
From an earnings perspective, Ingersoll Rand exhibits a price-to-earnings (PE) ratio of 40.57 – suggesting that investors are willing to pay more for each dollar of earnings generated by the company. Additionally, with a beta value of 1.43, Ingersoll Rand is considered slightly more volatile than the overall market – reflecting potentially higher returns but also increased risk.
Overall, the recent increase in holdings by Fisher Asset Management LLC and positive research reports indicate that Ingersoll Rand presents an attractive investment opportunity for those seeking exposure in the industrial products sector. With promising target prices from reputable analysts and strong financial indicators supporting its growth potential, it will be interesting to see how Ingersoll Rand develops in the coming months.
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Ingersoll Rand Sees Increased Interest from Hedge Funds and Analysts Following Positive Earnings Report
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”IR” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]Ingersoll Rand (NYSE:IR) has recently seen an increase in interest from hedge funds and institutional investors. Compass Wealth Management LLC acquired a new position in the company during the 4th quarter, while Field & Main Bank saw a 42.3% increase in their holdings of Ingersoll Rand during the 1st quarter. CoreCap Advisors LLC, Ameritas Advisory Services LLC, and Belpointe Asset Management LLC also bought new stakes in the company.
According to reports, insiders have been selling off shares of Ingersoll Rand. Gary E. Gillespie sold 27,487 shares on June 5th at an average price of $60.73, while Vicente Reynal sold 27,169 shares on June 16th at an average price of $65.00. These insider sales come to a total value of $3,685,458 over the past 90 days.
Recent research reports have provided positive ratings for Ingersoll Rand. StockNews.com raised its rating from “hold” to “buy”, while Wells Fargo & Company and Citigroup both raised their price targets for the stock. Stifel Nicolaus also increased its target price and gave the company a “hold” rating.
In its last quarterly earnings report on May 3rd, Ingersoll Rand surpassed analysts’ expectations with earnings per share (EPS) of $0.63 compared to the consensus estimate of $0.48 per share. The company reported a return on equity of 10.69% and a net margin of 10.66%. It generated revenue of $1.63 billion for the quarter, surpassing the consensus estimate of $1.48 billion.
In addition to these developments, Ingersoll Rand recently announced that it paid out a quarterly dividend to its stockholders on June 22nd. The ex-dividend date was May 23rd and shareholders of record on May 24th were paid a $0.02 dividend. This represents an annualized dividend of $0.08 and a dividend yield of 0.12%. The company currently has a dividend payout ratio of 4.94%.
Overall, Ingersoll Rand has gained attention from both investors and analysts due to its positive performance in recent earnings reports and the increased interest from hedge funds and institutional investors. With favorable ratings and an optimistic outlook, the company is expected to continue its growth trajectory in the industrial products sector.
