Baird Financial Group Inc. Cuts Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

Baird Financial Group Inc. cut its holdings in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 9.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 624,974 shares of the industrial products company's stock after selling 65,214 shares during the period. Baird Financial Group Inc. owned about 0.16% of Ingersoll Rand worth $56,535,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Ingersoll Rand by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 45,684,016 shares of the industrial products company's stock valued at $4,132,576,000 after purchasing an additional 446,591 shares during the last quarter. Capital International Investors grew its holdings in Ingersoll Rand by 4.6% during the 4th quarter. Capital International Investors now owns 36,673,865 shares of the industrial products company's stock worth $3,317,537,000 after acquiring an additional 1,606,363 shares during the period. Capital World Investors lifted its stake in shares of Ingersoll Rand by 1.0% in the 4th quarter. Capital World Investors now owns 20,088,857 shares of the industrial products company's stock valued at $1,817,238,000 after purchasing an additional 197,711 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Ingersoll Rand by 3.6% during the 4th quarter. JPMorgan Chase & Co. now owns 18,878,280 shares of the industrial products company's stock valued at $1,707,729,000 after purchasing an additional 649,102 shares in the last quarter. Finally, FMR LLC grew its stake in Ingersoll Rand by 8.2% during the fourth quarter. FMR LLC now owns 17,472,317 shares of the industrial products company's stock worth $1,580,546,000 after purchasing an additional 1,320,223 shares during the period. Institutional investors own 95.27% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Barclays cut their price objective on shares of Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Stifel Nicolaus lowered their target price on shares of Ingersoll Rand from $94.00 to $77.00 and set a "hold" rating on the stock in a report on Monday, April 14th. Robert W. Baird increased their price objective on Ingersoll Rand from $105.00 to $111.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 18th. Citigroup lifted their target price on Ingersoll Rand from $88.00 to $91.00 and gave the company a "buy" rating in a research report on Monday. Finally, Wells Fargo & Company lifted their price objective on shares of Ingersoll Rand from $80.00 to $86.00 and gave the stock an "overweight" rating in a report on Monday. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $98.91.

Ingersoll Rand Price Performance

NYSE IR traded up $1.96 during trading on Wednesday, reaching $77.88. The company's stock had a trading volume of 5,279,828 shares, compared to its average volume of 2,596,087. The firm has a fifty day moving average of $77.16 and a 200 day moving average of $88.87. Ingersoll Rand Inc. has a one year low of $65.61 and a one year high of $106.03. The stock 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. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.29 and a quick ratio of 1.71.

Ingersoll Rand (NYSE:IR - Get Free Report) last announced its earnings results on Thursday, May 1st. The industrial products company reported $0.72 earnings per share 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 analysts' expectations of $1.73 billion. During the same period in the prior year, the business earned $0.78 earnings per share. The company's revenue for the quarter was up 2.8% compared to the same quarter last year. Analysts expect that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Announces Dividend

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

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

Ingersoll Rand Profile

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.