Public Employees Retirement System of Ohio Has $12.78 Million Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

Public Employees Retirement System of Ohio lowered its position in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 4.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 141,258 shares of the industrial products company's stock after selling 7,126 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Ingersoll Rand were worth $12,778,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in IR. Murphy & Mullick Capital Management Corp acquired a new stake in Ingersoll Rand during the fourth quarter worth about $36,000. OFI Invest Asset Management acquired a new stake in shares of Ingersoll Rand in the fourth quarter valued at about $38,000. Lee Danner & Bass Inc. acquired a new stake in shares of Ingersoll Rand in the fourth quarter valued at about $42,000. Ancora Advisors LLC grew its stake in Ingersoll Rand by 144.8% during the 4th quarter. Ancora Advisors LLC now owns 497 shares of the industrial products company's stock valued at $45,000 after purchasing an additional 294 shares in the last quarter. Finally, Millstone Evans Group LLC bought a new position in Ingersoll Rand during the 4th quarter worth approximately $50,000. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on IR. Barclays cut their price target on Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Stifel Nicolaus lowered their target price on Ingersoll Rand from $94.00 to $77.00 and set a "hold" rating on the stock in a research report on Monday, April 14th. Wells Fargo & Company raised their target price on Ingersoll Rand from $80.00 to $86.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Robert W. Baird raised their target price on Ingersoll Rand from $105.00 to $111.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. Finally, Citigroup raised 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 analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Ingersoll Rand currently has a consensus rating of "Moderate Buy" and an average target price of $98.91.

Ingersoll Rand Price Performance

Shares of IR stock traded down $1.11 during mid-day trading on Friday, hitting $81.04. 1,010,487 shares of the stock traded hands, compared to its average volume of 2,590,376. Ingersoll Rand Inc. has a twelve month low of $65.61 and a twelve month high of $106.03. The firm has a market cap of $32.70 billion, a price-to-earnings ratio of 39.32, a price-to-earnings-growth ratio of 3.50 and a beta of 1.42. The company's 50-day simple moving average is $77.05 and its 200-day simple moving average is $87.07. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.29.

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 (EPS) for the quarter, missing analysts' consensus estimates 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 was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.78 earnings per share. As a group, equities research analysts expect that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand Dividend Announcement

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

Ingersoll Rand declared that its Board of Directors has approved a stock repurchase 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 repurchase up to 3.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.

Insider Activity

In other Ingersoll Rand 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 completion of the sale, the insider now owns 10,986 shares of the company's stock, valued at $920,407.08. The trade was a 24.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Vicente Reynal sold 38,657 shares of the business's 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 completion of the sale, the insider now directly owns 193,186 shares of the company's stock, valued at $16,040,233.58. This represents a 16.67% decrease in their position. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by corporate insiders.

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.