Rhumbline Advisers Raises Stock Position in Ingersoll Rand Inc. (NYSE:IR)

Rhumbline Advisers grew its stake in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 6.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 746,554 shares of the industrial products company's stock after purchasing an additional 45,417 shares during the quarter. Rhumbline Advisers owned approximately 0.19% of Ingersoll Rand worth $59,747,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in IR. Chicago Partners Investment Group LLC grew 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 worth $218,000 after buying an additional 109 shares during the last quarter. FSM Wealth Advisors LLC lifted its stake in Ingersoll Rand by 5.8% in the fourth quarter. FSM Wealth Advisors LLC now owns 2,442 shares of the industrial products company's stock worth $222,000 after acquiring an additional 134 shares during the period. Lake Street Advisors Group LLC boosted its holdings in Ingersoll Rand by 6.6% in the fourth quarter. Lake Street Advisors Group LLC now owns 2,273 shares of the industrial products company's stock valued at $206,000 after acquiring an additional 141 shares in the last quarter. Greenleaf Trust increased its position in Ingersoll Rand by 2.2% during the 4th quarter. Greenleaf Trust now owns 6,460 shares of the industrial products company's stock valued at $584,000 after purchasing an additional 142 shares during the period. Finally, Wilmington Savings Fund Society FSB raised its holdings in Ingersoll Rand by 2.5% in 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 in the last quarter. 95.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IR has been the topic of several research analyst reports. Barclays reduced their price target on shares of Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Evercore ISI decreased their target price on Ingersoll Rand from $100.00 to $91.00 and set an "in-line" rating for the company in a research report on Wednesday, February 19th. Stifel Nicolaus dropped their price target 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. Robert W. Baird increased their price objective on Ingersoll Rand from $105.00 to $111.00 and gave the stock an "outperform" rating in a report on Tuesday, February 18th. Finally, Wells Fargo & Company boosted their price objective on shares of Ingersoll Rand from $80.00 to $86.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $98.91.

Insiders Place Their Bets

In related news, insider Elizabeth Meloy Hepding sold 3,500 shares of the company's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $83.78, for a total transaction of $293,230.00. Following the completion of the sale, the insider now owns 10,986 shares in the company, valued at approximately $920,407.08. This represents a 24.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Vicente Reynal sold 38,657 shares of the stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 193,186 shares in the company, valued at $16,040,233.58. This trade represents 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.

Ingersoll Rand Stock Down 0.0%

Shares of NYSE IR traded down $0.02 during midday trading on Wednesday, hitting $81.93. The stock had a trading volume of 1,762,898 shares, compared to its average volume of 2,595,568. The business's 50 day moving average is $77.04 and its 200-day moving average is $86.49. Ingersoll Rand Inc. has a 52 week low of $65.61 and a 52 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. The company has a market cap of $33.06 billion, a P/E ratio of 39.77, a PEG ratio of 3.50 and a beta of 1.42.

Ingersoll Rand (NYSE:IR - Get Free Report) last released its quarterly earnings data 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 business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.73 billion. Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. The business's revenue was up 2.8% compared to the same quarter last year. During the same period last year, the company posted $0.78 earnings per share. As a group, analysts predict that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

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

Ingersoll Rand announced that its board has approved a share repurchase program on Thursday, May 1st that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the industrial products company to reacquire up to 3.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company's management believes its shares are undervalued.

About Ingersoll Rand

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.