Focus Partners Wealth Purchases 9,372 Shares of Ingersoll Rand Inc. (NYSE:IR)

Focus Partners Wealth boosted its holdings in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 204.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,967 shares of the industrial products company's stock after buying an additional 9,372 shares during the quarter. Focus Partners Wealth's holdings in Ingersoll Rand were worth $1,264,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Ingersoll Rand during the fourth quarter worth $429,591,000. Capital International Investors lifted 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 buying an additional 1,606,363 shares during the period. JPMorgan Chase & Co. grew its position in shares of Ingersoll Rand by 8.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 18,229,178 shares of the industrial products company's stock valued at $1,789,376,000 after buying an additional 1,462,538 shares during the last quarter. FMR LLC increased its stake in shares of Ingersoll Rand by 8.2% in the fourth quarter. FMR LLC now owns 17,472,317 shares of the industrial products company's stock valued at $1,580,546,000 after buying an additional 1,320,223 shares during the period. Finally, Franklin Resources Inc. increased its stake in shares of Ingersoll Rand by 5.9% in the fourth quarter. Franklin Resources Inc. now owns 12,277,177 shares of the industrial products company's stock valued at $1,110,593,000 after buying an additional 679,856 shares during the period. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Ingersoll Rand Price Performance

Shares of IR opened at $84.03 on Friday. The business's fifty day moving average is $77.02 and its 200 day moving average is $88.09. Ingersoll Rand Inc. has a 12-month low of $65.61 and a 12-month 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 stock has a market cap of $33.90 billion, a P/E ratio of 40.79, a P/E/G ratio of 3.50 and a beta of 1.42.

Ingersoll Rand (NYSE:IR - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the prior year, the business earned $0.78 earnings per share. The firm's quarterly revenue was up 2.8% compared to the same quarter last year. Sell-side analysts anticipate that Ingersoll Rand Inc. will post 3.32 earnings per share 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. Shareholders of record on Thursday, May 15th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date of this dividend is Thursday, May 15th. Ingersoll Rand's dividend payout ratio is 3.96%.

Ingersoll Rand announced that its Board of Directors has approved a stock repurchase program on Thursday, May 1st that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to reacquire up to 3.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board believes its stock is undervalued.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. 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. Barclays lowered 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 note on Thursday, April 10th. Robert W. Baird upped their price target on shares of 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 lowered their price objective on Ingersoll Rand from $94.00 to $77.00 and set a "hold" rating for the company in a research report on Monday, April 14th. Finally, Citigroup upped 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, May 5th. Five research 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 price target of $98.91.

Insider Activity

In other Ingersoll Rand news, insider Elizabeth Meloy Hepding sold 3,500 shares of the company's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $83.78, for a total value of $293,230.00. Following the completion of the transaction, the insider now owns 10,986 shares in the company, valued at $920,407.08. This represents a 24.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.59% of the stock is currently owned by corporate insiders.

Ingersoll Rand Company 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.

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