Ingersoll Rand Inc. (NYSE:IR) Holdings Boosted by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC raised its holdings in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 46.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,615 shares of the industrial products company's stock after buying an additional 6,507 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Ingersoll Rand were worth $1,865,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Lake Street Advisors Group LLC increased its position in shares of Ingersoll Rand by 6.6% during the fourth quarter. Lake Street Advisors Group LLC now owns 2,273 shares of the industrial products company's stock worth $206,000 after purchasing an additional 141 shares in the last quarter. Wilmington Savings Fund Society FSB increased its position in Ingersoll Rand by 2.5% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 5,873 shares of the industrial products company's stock worth $531,000 after purchasing an additional 143 shares during the period. Whittier Trust Co. of Nevada Inc. increased its position in Ingersoll Rand by 8.6% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,825 shares of the industrial products company's stock worth $165,000 after purchasing an additional 145 shares during the period. Newbridge Financial Services Group Inc. increased its position in Ingersoll Rand by 5.1% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 3,003 shares of the industrial products company's stock worth $272,000 after purchasing an additional 147 shares during the period. Finally, Howard Capital Management Inc. increased its position in Ingersoll Rand by 6.6% during the 4th quarter. Howard Capital Management Inc. now owns 2,378 shares of the industrial products company's stock worth $215,000 after purchasing an additional 148 shares during the period. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Ingersoll Rand Trading Up 1.6%

Shares of IR traded up $1.28 during trading hours on Friday, hitting $83.15. The stock had a trading volume of 2,139,416 shares, compared to its average volume of 2,582,931. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.29. The firm has a market cap of $33.55 billion, a P/E ratio of 40.37, a P/E/G ratio of 3.50 and a beta of 1.44. The company's fifty day simple moving average is $77.17 and its 200 day simple moving average is $86.19. Ingersoll Rand Inc. has a 12-month low of $65.61 and a 12-month high of $106.03.

Ingersoll Rand (NYSE:IR - Get Free Report) last issued its earnings results on Thursday, May 1st. The industrial products company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.02). The firm had revenue of $1.72 billion during the quarter, compared to analysts' expectations of $1.73 billion. Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. The company's quarterly revenue was up 2.8% compared to the same quarter last year. During the same period last year, the business posted $0.78 earnings per share. Equities research analysts forecast that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

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

Ingersoll Rand Announces Dividend

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

Insider Activity at Ingersoll Rand

In other 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 transaction of $293,230.00. Following the transaction, the insider now owns 10,986 shares of the company's stock, valued at approximately $920,407.08. This trade represents a 24.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Vicente Reynal sold 38,657 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $83.03, for a total transaction of $3,209,690.71. Following the transaction, the insider now directly owns 193,186 shares in the company, valued at $16,040,233.58. The trade was a 16.67% decrease in their position. The disclosure for this sale can be found here. 0.59% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on IR. Robert W. Baird boosted their price target 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 boosted their price target on Ingersoll Rand from $88.00 to $91.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Barclays reduced their target price on Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Stifel Nicolaus reduced their target price on Ingersoll Rand from $94.00 to $77.00 and set a "hold" rating on the stock in a research note on Monday, April 14th. Finally, Evercore ISI reduced their target price 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. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $98.91.

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.