Lombard Odier Asset Management Switzerland SA Grows Stock Holdings in Ingersoll Rand Inc. $IR

Lombard Odier Asset Management Switzerland SA lifted its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 55.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,976 shares of the industrial products company’s stock after purchasing an additional 6,800 shares during the period. Lombard Odier Asset Management Switzerland SA’s holdings in Ingersoll Rand were worth $1,520,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Deseret Mutual Benefit Administrators grew its holdings in Ingersoll Rand by 46.9% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 351 shares of the industrial products company’s stock valued at $28,000 after buying an additional 112 shares in the last quarter. Hilton Head Capital Partners LLC purchased a new stake in shares of Ingersoll Rand in the fourth quarter valued at about $29,000. Reflection Asset Management acquired a new stake in Ingersoll Rand during the fourth quarter worth about $31,000. Torren Management LLC purchased a new position in Ingersoll Rand during the fourth quarter worth about $32,000. Finally, Salomon & Ludwin LLC boosted its holdings in Ingersoll Rand by 166.9% in the 4th quarter. Salomon & Ludwin LLC now owns 427 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 267 shares during the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on IR shares. Morgan Stanley decreased their price target on Ingersoll Rand from $92.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 3rd. Wall Street Zen upgraded shares of Ingersoll Rand from a “hold” rating to a “buy” rating in a report on Saturday. Stifel Nicolaus decreased their price objective on Ingersoll Rand from $85.00 to $84.00 and set a “hold” rating for the company in a research note on Monday, July 20th. Robert W. Baird set a $103.00 target price on shares of Ingersoll Rand in a research note on Thursday, April 30th. Finally, Barclays reduced their target price on shares of Ingersoll Rand from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Thursday, April 30th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Ingersoll Rand presently has a consensus rating of “Moderate Buy” and an average price target of $91.86.

Ingersoll Rand Stock Performance

Shares of Ingersoll Rand stock opened at $84.63 on Tuesday. The company has a quick ratio of 1.59, a current ratio of 2.23 and a debt-to-equity ratio of 0.47. Ingersoll Rand Inc. has a 52 week low of $68.07 and a 52 week high of $100.96. The firm’s 50 day moving average is $76.85 and its two-hundred day moving average is $82.65. The firm has a market capitalization of $33.12 billion, a P/E ratio of 57.18, a P/E/G ratio of 5.34 and a beta of 1.17.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.74 by $0.03. Ingersoll Rand had a net margin of 7.54% and a return on equity of 12.79%. The firm had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same period last year, the business earned $0.72 EPS. Ingersoll Rand’s revenue for the quarter was up 7.6% compared to the same quarter last year. Research analysts forecast that Ingersoll Rand Inc. will post 3.37 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 13th will be given a dividend of $0.02 per share. The ex-dividend date is Thursday, August 13th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.1%. Ingersoll Rand’s payout ratio is 5.41%.

Ingersoll Rand Company Profile

Ingersoll Rand is a diversified industrial company that designs, manufactures and services a wide range of equipment and technologies for commercial, industrial and OEM customers. Its product portfolio includes air compressors and compressed air systems, pneumatic and cordless power tools, material handling and lifting equipment, fluid transfer and pumping solutions, and associated aftermarket parts and service offerings. The company’s products support applications across manufacturing, construction, transportation, oil and gas, mining and general industrial markets.

Ingersoll Rand sells through a combination of direct sales, distributor networks and service channels, delivering both capital equipment and recurring aftermarket revenue from parts, maintenance and service contracts.