Squarepoint Ops LLC Grows Stake in Ingersoll Rand Inc. (NYSE:IR)

Squarepoint Ops LLC raised its stake in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 152.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 259,215 shares of the industrial products company's stock after acquiring an additional 156,665 shares during the period. Squarepoint Ops LLC owned about 0.06% of Ingersoll Rand worth $23,449,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in shares of Ingersoll Rand by 8.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 18,229,178 shares of the industrial products company's stock worth $1,789,376,000 after purchasing an additional 1,462,538 shares during the period. Park Avenue Securities LLC raised its stake in shares of Ingersoll Rand by 3.3% during the 4th quarter. Park Avenue Securities LLC now owns 4,288 shares of the industrial products company's stock worth $388,000 after purchasing an additional 136 shares during the period. Merit Financial Group LLC bought a new stake in shares of Ingersoll Rand during the 4th quarter worth $229,000. HB Wealth Management LLC raised its stake in shares of Ingersoll Rand by 6.8% during the 4th quarter. HB Wealth Management LLC now owns 8,008 shares of the industrial products company's stock worth $724,000 after purchasing an additional 513 shares during the period. Finally, UMB Bank n.a. raised its stake in shares of Ingersoll Rand by 27.0% during the 4th quarter. UMB Bank n.a. now owns 598 shares of the industrial products company's stock worth $54,000 after purchasing an additional 127 shares during the period. 95.27% of the stock is currently owned by institutional investors.

Ingersoll Rand Price Performance

NYSE:IR traded down $0.80 during mid-day trading on Friday, reaching $80.41. The stock had a trading volume of 3,790,820 shares, compared to its average volume of 2,606,507. The firm has a 50 day moving average price of $77.05 and a two-hundred day moving average price of $87.56. The stock has a market capitalization of $32.44 billion, a P/E ratio of 39.03, a P/E/G ratio of 3.50 and a beta of 1.42. Ingersoll Rand Inc. has a one year low of $65.61 and a one year high of $106.03. 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 released its quarterly earnings data on Thursday, May 1st. The industrial products company reported $0.72 earnings per share for the quarter, missing analysts' consensus estimates of $0.74 by ($0.02). The company had revenue of $1.72 billion for the quarter, compared to analysts' expectations 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 for the quarter was up 2.8% compared to the same quarter last year. During the same period last year, the company posted $0.78 EPS. As a group, analysts expect that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Thursday, May 15th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend 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 presently 3.96%.

Ingersoll Rand declared that its board has initiated a share repurchase program 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 programs are typically an indication that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on IR shares. Stifel Nicolaus decreased their price objective on Ingersoll Rand from $94.00 to $77.00 and set a "hold" rating for the company in a report on Monday, April 14th. Evercore ISI reduced their target price on Ingersoll Rand from $100.00 to $91.00 and set an "in-line" rating for the company in a report on Wednesday, February 19th. Wells Fargo & Company lifted their target price on Ingersoll Rand from $80.00 to $86.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Barclays reduced their target price on Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Finally, Citigroup lifted their target price on Ingersoll Rand from $88.00 to $91.00 and gave the company a "buy" rating in a report on Monday, May 5th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $98.91.

Insider Activity at Ingersoll Rand

In other Ingersoll Rand news, insider Elizabeth Meloy Hepding sold 3,500 shares of the stock in a transaction 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 transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Vicente Reynal sold 38,657 shares of the stock in a transaction on 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 transaction, the insider now owns 193,186 shares of the company's stock, valued at approximately $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 corporate insiders.

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.