Axa S.A. Raises Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

AXA S.A. raised its holdings in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 155.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 307,175 shares of the industrial products company's stock after purchasing an additional 187,100 shares during the quarter. AXA S.A. owned 0.08% of Ingersoll Rand worth $27,787,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Savant Capital LLC grew its holdings in shares of Ingersoll Rand by 2.3% during the 4th quarter. Savant Capital LLC now owns 6,938 shares of the industrial products company's stock valued at $628,000 after purchasing an additional 158 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Ingersoll Rand by 19.1% during the 4th quarter. Nordea Investment Management AB now owns 1,691,399 shares of the industrial products company's stock valued at $153,867,000 after acquiring an additional 271,381 shares in the last quarter. abrdn plc grew its position in Ingersoll Rand by 70.5% during the 4th quarter. abrdn plc now owns 262,863 shares of the industrial products company's stock worth $23,851,000 after acquiring an additional 108,700 shares during the last quarter. AdvisorNet Financial Inc increased its holdings in Ingersoll Rand by 441.4% in the 4th quarter. AdvisorNet Financial Inc now owns 18,652 shares of the industrial products company's stock worth $1,687,000 after purchasing an additional 15,207 shares in the last quarter. Finally, tru Independence LLC bought a new position in Ingersoll Rand in the fourth quarter valued at about $291,000. Institutional investors and hedge funds own 95.27% of the company's stock.

Analyst Upgrades and Downgrades

IR has been the topic of several recent research reports. Robert W. Baird lifted their target price on shares of Ingersoll Rand from $105.00 to $111.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. Barclays cut their target price on Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Citigroup boosted their target price on shares of Ingersoll Rand from $88.00 to $91.00 and gave the company a "buy" rating in a research report on Monday. Evercore ISI dropped their price target on 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. Finally, Stifel Nicolaus decreased their price target on shares of Ingersoll Rand from $94.00 to $77.00 and set a "hold" rating for the company in a research note on Monday, April 14th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $98.91.

Ingersoll Rand Stock Performance

IR traded up $1.96 during trading hours on Wednesday, hitting $77.88. The stock had a trading volume of 5,279,828 shares, compared to its average volume of 2,596,087. The stock has a market cap of $31.39 billion, a PE ratio of 37.81, a price-to-earnings-growth ratio of 3.50 and a beta of 1.42. Ingersoll Rand Inc. has a 1 year low of $65.61 and a 1 year high of $106.03. The company has a quick ratio of 1.71, a current ratio of 2.29 and a debt-to-equity ratio of 0.46. The company's fifty day simple moving average is $77.16 and its 200 day simple moving average is $88.87.

Ingersoll Rand (NYSE:IR - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The industrial products company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.02). Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. The business 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 business posted $0.78 earnings per share. The firm's quarterly revenue was up 2.8% on a year-over-year basis. Equities analysts anticipate that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 15th will be given a $0.02 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. Ingersoll Rand's dividend payout ratio (DPR) is currently 3.96%.

Ingersoll Rand declared that its Board of Directors has approved a stock buyback plan on Thursday, May 1st that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the industrial products company to repurchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

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.