Alyeska Investment Group L.P. Makes New $30.69 Million Investment in Ingersoll Rand Inc. (NYSE:IR)

Alyeska Investment Group L.P. bought a new stake in Ingersoll Rand Inc. (NYSE:IR - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 339,292 shares of the industrial products company's stock, valued at approximately $30,692,000. Alyeska Investment Group L.P. owned about 0.08% of Ingersoll Rand at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB purchased a new position in shares of Ingersoll Rand during the third quarter worth $562,000. B. Riley Wealth Advisors Inc. boosted its stake in shares of Ingersoll Rand by 58.8% in the third quarter. B. Riley Wealth Advisors Inc. now owns 5,728 shares of the industrial products company's stock valued at $564,000 after purchasing an additional 2,122 shares during the period. Principal Financial Group Inc. increased its stake in Ingersoll Rand by 0.7% during the 3rd quarter. Principal Financial Group Inc. now owns 467,439 shares of the industrial products company's stock worth $45,884,000 after buying an additional 3,165 shares during the period. JPMorgan Chase & Co. lifted its holdings in Ingersoll Rand by 8.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 18,229,178 shares of the industrial products company's stock worth $1,789,376,000 after buying an additional 1,462,538 shares in the last quarter. Finally, Versant Capital Management Inc boosted its position in Ingersoll Rand by 654.4% in the 4th quarter. Versant Capital Management Inc now owns 679 shares of the industrial products company's stock valued at $61,000 after buying an additional 589 shares during the period. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Ingersoll Rand Stock Performance

Shares of NYSE IR traded up $1.96 during trading hours on Wednesday, reaching $77.88. The stock had a trading volume of 5,279,828 shares, compared to its average volume of 2,596,087. The firm has a market cap of $31.39 billion, a price-to-earnings ratio of 37.81, a PEG 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. The firm has a 50-day moving average of $77.16 and a 200-day moving average of $88.87. 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 (NYSE:IR - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $1.73 billion. During the same quarter last year, the firm earned $0.78 EPS. The business's revenue was up 2.8% on a year-over-year basis. Equities research analysts predict that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand declared that its board has initiated a stock buyback program on Thursday, May 1st that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the industrial products company to buy up to 3.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.

Ingersoll Rand Dividend Announcement

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 given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.10%. The ex-dividend date of this dividend is Thursday, May 15th. Ingersoll Rand's payout ratio is 3.96%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Robert W. Baird increased 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. Citigroup lifted their price objective on Ingersoll Rand from $88.00 to $91.00 and gave the company a "buy" rating in a research note on Monday. Barclays reduced their target price on shares of Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. 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, Stifel Nicolaus decreased their price objective on shares of Ingersoll Rand from $94.00 to $77.00 and set a "hold" rating for the company in a research report on Monday, April 14th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Ingersoll Rand presently has an average rating of "Moderate Buy" and a consensus target price 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.