Ingersoll Rand Inc. (NYSE:IR) Holdings Raised by Rafferty Asset Management LLC

Rafferty Asset Management LLC lifted its holdings in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 16.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 39,519 shares of the industrial products company's stock after acquiring an additional 5,688 shares during the quarter. Rafferty Asset Management LLC's holdings in Ingersoll Rand were worth $3,575,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Savant Capital LLC raised its holdings in Ingersoll Rand by 2.3% in the fourth quarter. Savant Capital LLC now owns 6,938 shares of the industrial products company's stock valued at $628,000 after acquiring an additional 158 shares in the last quarter. abrdn plc raised its stake in shares of Ingersoll Rand by 70.5% in the 4th quarter. abrdn plc now owns 262,863 shares of the industrial products company's stock valued at $23,851,000 after purchasing an additional 108,700 shares in the last quarter. tru Independence LLC acquired a new stake in shares of Ingersoll Rand in the 4th quarter valued at about $291,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Ingersoll Rand by 8.0% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 70,506 shares of the industrial products company's stock worth $6,378,000 after purchasing an additional 5,197 shares during the last quarter. Finally, Paradigm Asset Management Co. LLC acquired a new position in Ingersoll Rand in the fourth quarter worth about $1,520,000. 95.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Ingersoll Rand news, insider Elizabeth Meloy Hepding sold 3,500 shares of the company's stock in a transaction that occurred 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 sale, the insider now directly owns 10,986 shares in the company, valued at $920,407.08. This represents a 24.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Vicente Reynal sold 38,657 shares of the stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $83.03, for a total value of $3,209,690.71. Following the transaction, the insider now directly 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 0.59% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on IR shares. Wells Fargo & Company upped their price objective on Ingersoll Rand from $80.00 to $86.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Barclays lowered their price target on Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Stifel Nicolaus reduced their price objective 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. Evercore ISI decreased their price objective on shares of Ingersoll Rand from $100.00 to $91.00 and set an "in-line" rating for the company in a report on Wednesday, February 19th. Finally, Robert W. Baird boosted their target price on shares of Ingersoll Rand from $105.00 to $111.00 and gave the company an "outperform" rating in a research note on Tuesday, February 18th. Five equities research 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 presently has a consensus rating of "Moderate Buy" and a consensus target price of $98.91.

Ingersoll Rand Stock Performance

NYSE:IR traded down $0.41 during midday trading on Friday, reaching $80.79. 2,338,641 shares of the company traded hands, compared to its average volume of 2,615,813. The firm has a market capitalization of $32.60 billion, a price-to-earnings ratio of 39.25, a price-to-earnings-growth ratio of 3.50 and a beta of 1.42. The company has a fifty day moving average price of $77.07 and a 200 day moving average price of $87.79. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.29 and a quick ratio of 1.71. Ingersoll Rand Inc. has a twelve month low of $65.61 and a twelve month high of $106.03.

Ingersoll Rand (NYSE:IR - Get Free Report) last announced 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). Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period last year, the firm posted $0.78 EPS. The business's revenue was up 2.8% compared to the same quarter last year. On average, analysts expect that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand announced that its Board of Directors has authorized a stock buyback plan on Thursday, May 1st that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the industrial products company to reacquire up to 3.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

Ingersoll Rand Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 15th will be paid 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 payout ratio is currently 3.96%.

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.