Banque Pictet & Cie SA Purchases 2,350 Shares of Ingersoll Rand Inc. (NYSE:IR)

Banque Pictet & Cie SA raised its position in Ingersoll Rand Inc. (NYSE:IR) by 23.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 12,400 shares of the industrial products company’s stock after buying an additional 2,350 shares during the period. Banque Pictet & Cie SA’s holdings in Ingersoll Rand were worth $1,122,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC bought a new position in shares of Ingersoll Rand during the third quarter worth about $34,000. Eastern Bank bought a new position in shares of Ingersoll Rand during the third quarter worth about $42,000. UMB Bank n.a. raised its position in shares of Ingersoll Rand by 27.0% during the fourth quarter. UMB Bank n.a. now owns 598 shares of the industrial products company’s stock worth $54,000 after acquiring an additional 127 shares during the last quarter. Versant Capital Management Inc raised its position in shares of Ingersoll Rand by 654.4% during the fourth quarter. Versant Capital Management Inc now owns 679 shares of the industrial products company’s stock worth $61,000 after acquiring an additional 589 shares during the last quarter. Finally, Princeton Global Asset Management LLC bought a new position in shares of Ingersoll Rand during the third quarter worth about $65,000. 95.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

IR has been the subject of a number of research analyst reports. Stifel Nicolaus lowered their target price on Ingersoll Rand from $107.00 to $100.00 and set a “hold” rating for the company in a report on Friday, January 24th. Citigroup lowered their target price on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a report on Monday, January 13th. The Goldman Sachs Group lifted their target price on Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Barclays lowered their target price on Ingersoll Rand from $120.00 to $115.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Finally, UBS Group initiated coverage on Ingersoll Rand in a report on Wednesday, November 13th. They issued a “buy” rating and a $124.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Ingersoll Rand has an average rating of “Moderate Buy” and an average target price of $105.92.

Ingersoll Rand Stock Down 7.3 %

Shares of NYSE:IR opened at $85.79 on Friday. The stock has a market cap of $34.58 billion, a price-to-earnings ratio of 41.85, a PEG ratio of 3.66 and a beta of 1.43. The company has a quick ratio of 1.71, a current ratio of 2.36 and a debt-to-equity ratio of 0.46. Ingersoll Rand Inc. has a 12-month low of $83.72 and a 12-month high of $106.03. The business’s 50 day moving average is $93.08 and its 200 day moving average is $95.27.

Ingersoll Rand (NYSE:IR) last announced its earnings results on Thursday, February 13th. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.04). Ingersoll Rand had a net margin of 11.72% and a return on equity of 13.01%. On average, sell-side analysts forecast that Ingersoll Rand Inc. will post 3.2 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Wednesday, March 5th will be given a dividend of $0.02 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Ingersoll Rand’s payout ratio is 3.88%.

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.