Caisse DE Depot ET Placement DU Quebec Purchases New Holdings in Ingersoll Rand Inc. (NYSE:IR)

Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 22,311 shares of the industrial products company's stock, valued at approximately $2,018,000.

Several other institutional investors also recently modified their holdings of IR. Murphy & Mullick Capital Management Corp acquired a new position in shares of Ingersoll Rand in the 4th quarter worth approximately $36,000. OFI Invest Asset Management bought a new position in shares of Ingersoll Rand during the fourth quarter valued at $38,000. Lee Danner & Bass Inc. acquired a new stake in shares of Ingersoll Rand in the 4th quarter valued at $42,000. Millstone Evans Group LLC bought a new stake in shares of Ingersoll Rand in the 4th quarter worth about $50,000. Finally, UMB Bank n.a. increased its position in shares of Ingersoll Rand by 27.0% during the 4th quarter. UMB Bank n.a. now owns 598 shares of the industrial products company's stock worth $54,000 after purchasing an additional 127 shares in the last quarter. Institutional investors and hedge funds own 95.27% of the company's stock.

Ingersoll Rand Trading Up 2.6 %

IR traded up $1.96 during trading on Wednesday, reaching $77.88. 5,279,828 shares of the company's stock were exchanged, compared to its average volume of 2,596,087. The company's fifty day moving average price is $77.16 and its 200-day moving average price is $88.87. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.29. The firm has a market capitalization of $31.39 billion, a PE ratio of 37.81, a P/E/G ratio of 3.50 and a beta of 1.42. Ingersoll Rand Inc. has a fifty-two week low of $65.61 and a fifty-two week high of $106.03.

Ingersoll Rand (NYSE:IR - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The industrial products company reported $0.72 EPS for the quarter, missing analysts' consensus estimates of $0.74 by ($0.02). Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period last year, the company earned $0.78 earnings per share. The business's revenue was up 2.8% compared to the same quarter last year. As a group, equities analysts forecast that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand declared that its board has authorized a stock buyback plan on Thursday, May 1st that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the industrial products company to reacquire up to 3.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Ingersoll Rand Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 15th will be issued a dividend of $0.02 per share. The ex-dividend date is Thursday, May 15th. This represents a $0.08 annualized dividend and a yield of 0.10%. Ingersoll Rand's dividend payout ratio is presently 3.96%.

Analyst Ratings Changes

IR has been the topic of several research analyst reports. Evercore ISI decreased their price objective on shares of 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. Robert W. Baird lifted their price objective on Ingersoll Rand from $105.00 to $111.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. Stifel Nicolaus decreased their target price on Ingersoll Rand from $94.00 to $77.00 and set a "hold" rating on the stock in a report on Monday, April 14th. Wells Fargo & Company lifted their price target on Ingersoll Rand from $80.00 to $86.00 and gave the company an "overweight" rating in a report on Monday. Finally, Citigroup increased their price objective on shares of Ingersoll Rand from $88.00 to $91.00 and gave the stock a "buy" rating in a report on Monday. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Ingersoll Rand presently has a consensus rating of "Moderate Buy" and an average price target of $98.91.

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.