Cetera Investment Advisers Has $5.37 Million Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

Cetera Investment Advisers boosted its stake in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 5.4% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 59,354 shares of the industrial products company's stock after purchasing an additional 3,067 shares during the period. Cetera Investment Advisers' holdings in Ingersoll Rand were worth $5,369,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Centiva Capital LP grew its position in Ingersoll Rand by 593.9% during the fourth quarter. Centiva Capital LP now owns 23,164 shares of the industrial products company's stock valued at $2,095,000 after purchasing an additional 19,826 shares in the last quarter. Bridgefront Capital LLC purchased a new position in Ingersoll Rand during the fourth quarter valued at approximately $313,000. Captrust Financial Advisors grew its position in Ingersoll Rand by 11.8% during the fourth quarter. Captrust Financial Advisors now owns 13,387 shares of the industrial products company's stock valued at $1,211,000 after purchasing an additional 1,409 shares in the last quarter. Cary Street Partners Financial LLC bought a new stake in Ingersoll Rand in the fourth quarter worth approximately $264,000. Finally, Banque Transatlantique SA bought a new stake in Ingersoll Rand in the fourth quarter worth approximately $43,637,000. 95.27% of the stock is owned by hedge funds and other institutional investors.

Ingersoll Rand Stock Performance

IR stock traded down $0.50 during mid-day trading on Monday, reaching $83.51. 2,818,277 shares of the stock traded hands, compared to its average volume of 2,614,606. The company has a quick ratio of 1.71, a current ratio of 2.29 and a debt-to-equity ratio of 0.46. Ingersoll Rand Inc. has a 52 week low of $65.61 and a 52 week high of $106.03. The business has a 50-day moving average of $77.06 and a two-hundred day moving average of $87.96. The firm has a market capitalization of $33.69 billion, a PE ratio of 40.54, a P/E/G ratio of 3.50 and a beta of 1.42.

Ingersoll Rand (NYSE:IR - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The industrial products company reported $0.72 earnings per share (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 firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter last year, the company earned $0.78 earnings per share. The firm's revenue was up 2.8% on a year-over-year basis. As a group, equities analysts predict that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand announced that its board has authorized a stock buyback plan on Thursday, May 1st that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the industrial products company to reacquire up to 3.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board believes its shares are undervalued.

Ingersoll Rand Announces Dividend

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

Insider Activity at Ingersoll Rand

In related news, insider Elizabeth Meloy Hepding sold 3,500 shares of the stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $83.78, for a total value of $293,230.00. Following the completion of the sale, the insider now owns 10,986 shares in the company, valued at approximately $920,407.08. This trade represents a 24.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.59% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

IR has been the subject of several recent research reports. Citigroup boosted their target price on shares of Ingersoll Rand from $88.00 to $91.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Stifel Nicolaus decreased their target price 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. Barclays decreased their target price on shares of Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Evercore ISI decreased their target price on shares of Ingersoll Rand from $100.00 to $91.00 and set an "in-line" rating for the company in a research report on Wednesday, February 19th. Finally, Wells Fargo & Company boosted their target price on shares of Ingersoll Rand from $80.00 to $86.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $98.91.

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.