Public Employees Retirement System of Ohio lessened its holdings in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 4.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 141,258 shares of the industrial products company's stock after selling 7,126 shares during the period. Public Employees Retirement System of Ohio's holdings in Ingersoll Rand were worth $12,778,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of Ingersoll Rand by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 45,684,016 shares of the industrial products company's stock worth $4,132,576,000 after purchasing an additional 446,591 shares during the last quarter. Capital International Investors lifted its holdings in shares of Ingersoll Rand by 4.6% during the fourth 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 last quarter. Capital World Investors boosted its position in shares of Ingersoll Rand by 1.0% in the fourth quarter. Capital World Investors now owns 20,088,857 shares of the industrial products company's stock valued at $1,817,238,000 after acquiring an additional 197,711 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Ingersoll Rand by 3.6% in the fourth quarter. JPMorgan Chase & Co. now owns 18,878,280 shares of the industrial products company's stock worth $1,707,729,000 after acquiring an additional 649,102 shares during the last quarter. Finally, FMR LLC increased its position 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 acquiring an additional 1,320,223 shares during the period. Institutional investors and hedge funds own 95.27% of the company's stock.
Ingersoll Rand Trading Up 0.3%
NYSE IR traded up $0.22 during trading on Thursday, reaching $82.06. 2,455,606 shares of the stock traded hands, compared to its average volume of 3,034,635. The stock's 50-day moving average price is $77.05 and its 200 day moving average price is $87.22. The firm has a market cap of $33.11 billion, a price-to-earnings ratio of 39.84, a price-to-earnings-growth ratio of 3.50 and a beta of 1.42. Ingersoll Rand Inc. has a fifty-two week low of $65.61 and a fifty-two week 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.
Ingersoll Rand (NYSE:IR - Get Free Report) last posted 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). Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the prior year, the firm posted $0.78 earnings per share. The business's revenue was up 2.8% on a year-over-year basis. Analysts predict that Ingersoll Rand Inc. will post 3.32 EPS for the current year.
Ingersoll Rand declared that its board has authorized a share repurchase plan on Thursday, May 1st that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the industrial products company to reacquire up to 3.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's management believes its shares are undervalued.
Ingersoll Rand Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Thursday, May 15th will be given a $0.02 dividend. The ex-dividend date is Thursday, May 15th. This represents a $0.08 annualized dividend and a dividend yield of 0.10%. Ingersoll Rand's dividend payout ratio is presently 3.96%.
Insiders Place Their Bets
In other news, insider Elizabeth Meloy Hepding sold 3,500 shares of the business's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $83.78, for a total value of $293,230.00. Following the sale, the insider now directly owns 10,986 shares in the company, valued at $920,407.08. The trade was a 24.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 value of $3,209,690.71. Following the transaction, the insider now owns 193,186 shares of the company's stock, valued at approximately $16,040,233.58. The trade was a 16.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company's stock.
Analysts Set New Price Targets
IR has been the topic of several research analyst reports. Evercore ISI decreased their price target on shares of Ingersoll Rand from $100.00 to $91.00 and set an "in-line" rating on the stock in a research report on Wednesday, February 19th. Citigroup raised their price objective on Ingersoll Rand from $88.00 to $91.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Robert W. Baird boosted their price objective on Ingersoll Rand from $105.00 to $111.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. Barclays reduced their target price on Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Finally, Wells Fargo & Company boosted their price target on shares of Ingersoll Rand from $80.00 to $86.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Ingersoll Rand has an average rating of "Moderate Buy" and an average target price of $98.91.
Get Our Latest Stock Report on Ingersoll Rand
Ingersoll Rand Company Profile
(
Free Report)
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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