Turtle Creek Asset Management Inc. Has $156.35 Million Stake in Ingersoll Rand Inc. (NYSE:IR)

Turtle Creek Asset Management Inc. trimmed its holdings in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 2.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,728,416 shares of the industrial products company's stock after selling 35,742 shares during the period. Ingersoll Rand comprises approximately 4.1% of Turtle Creek Asset Management Inc.'s investment portfolio, making the stock its 9th biggest position. Turtle Creek Asset Management Inc. owned approximately 0.43% of Ingersoll Rand worth $156,353,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in IR. Chicago Partners Investment Group LLC lifted its position in shares of Ingersoll Rand by 4.7% in the 4th quarter. Chicago Partners Investment Group LLC now owns 2,438 shares of the industrial products company's stock valued at $218,000 after acquiring an additional 109 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Ingersoll Rand by 27.0% in the 4th quarter. UMB Bank n.a. now owns 598 shares of the industrial products company's stock valued at $54,000 after acquiring an additional 127 shares in the last quarter. RDA Financial Network lifted its position in Ingersoll Rand by 3.1% in the 4th quarter. RDA Financial Network now owns 4,324 shares of the industrial products company's stock worth $391,000 after buying an additional 128 shares in the last quarter. FSM Wealth Advisors LLC lifted its position in Ingersoll Rand by 5.8% in the 4th quarter. FSM Wealth Advisors LLC now owns 2,442 shares of the industrial products company's stock worth $222,000 after buying an additional 134 shares in the last quarter. Finally, Park Avenue Securities LLC lifted its position in Ingersoll Rand by 3.3% in the 4th quarter. Park Avenue Securities LLC now owns 4,288 shares of the industrial products company's stock worth $388,000 after buying an additional 136 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors.

Insider Transactions at Ingersoll Rand

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

Analyst Ratings Changes

IR has been the topic of several analyst reports. Robert W. Baird increased their price target on shares of Ingersoll Rand from $105.00 to $111.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 18th. 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 research note on Monday, April 14th. Citigroup raised their target price on shares of Ingersoll Rand from $88.00 to $91.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Wells Fargo & Company raised their target price on shares of Ingersoll Rand from $80.00 to $86.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Finally, Barclays lowered their target price on shares of Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Ingersoll Rand presently has a consensus rating of "Moderate Buy" and an average target price of $98.91.

Ingersoll Rand Stock Performance

NYSE IR traded down $1.58 during midday trading on Wednesday, hitting $81.34. The company had a trading volume of 3,765,789 shares, compared to its average volume of 2,612,971. 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 $32.82 billion, a price-to-earnings ratio of 39.49, a P/E/G ratio of 3.50 and a beta of 1.42. The firm has a fifty day simple moving average of $77.12 and a two-hundred day simple moving average of $87.92. Ingersoll Rand Inc. has a fifty-two week low of $65.61 and a fifty-two week high of $106.03.

Ingersoll Rand (NYSE:IR - Get Free Report) last posted 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). The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.73 billion. Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. The business's revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.78 earnings per share. Equities analysts forecast that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

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

Ingersoll Rand Dividend Announcement

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

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.