Twinbeech Capital LP Buys New Position in Ingersoll Rand Inc. (NYSE:IR)

Twinbeech Capital LP bought a new stake in Ingersoll Rand Inc. (NYSE:IR - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 229,451 shares of the industrial products company's stock, valued at approximately $20,756,000. Twinbeech Capital LP owned 0.06% of Ingersoll Rand as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Murphy & Mullick Capital Management Corp bought a new stake in shares of Ingersoll Rand in the fourth quarter valued at about $36,000. OFI Invest Asset Management bought a new stake in shares of Ingersoll Rand in the fourth quarter valued at about $38,000. Lee Danner & Bass Inc. bought a new stake in shares of Ingersoll Rand in the fourth quarter valued at about $42,000. Ancora Advisors LLC boosted its position in shares of Ingersoll Rand by 144.8% in the fourth quarter. Ancora Advisors LLC now owns 497 shares of the industrial products company's stock valued at $45,000 after acquiring an additional 294 shares during the period. Finally, Millstone Evans Group LLC bought a new stake in shares of Ingersoll Rand in the fourth quarter valued at about $50,000. Institutional investors own 95.27% of the company's stock.

Insiders Place Their Bets

In other news, insider Vicente Reynal sold 38,657 shares of the company's stock in a transaction that occurred 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 $16,040,233.58. This represents a 16.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Elizabeth Meloy Hepding sold 3,500 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The shares were 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 directly owns 10,986 shares of the company's stock, valued at $920,407.08. This represents a 24.16% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.59% of the company's stock.

Analyst Ratings Changes

IR has been the subject of a number of recent research reports. Wells Fargo & Company boosted their target price on shares of 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 boosted their price target on Ingersoll Rand from $105.00 to $111.00 and gave the company an "outperform" rating in a research note on Tuesday, February 18th. Evercore ISI dropped their price target on Ingersoll Rand from $100.00 to $91.00 and set an "in-line" rating for the company in a research note on Wednesday, February 19th. Citigroup boosted their price target on Ingersoll Rand from $88.00 to $91.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Finally, Stifel Nicolaus dropped their price target on Ingersoll Rand from $94.00 to $77.00 and set a "hold" rating for the company in a research note on Monday, April 14th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Ingersoll Rand currently has a consensus rating of "Moderate Buy" and an average target price of $98.91.

Ingersoll Rand Price Performance

NYSE IR traded down $0.80 during trading on Friday, hitting $80.41. 3,790,820 shares of the company's stock were exchanged, compared to its average volume of 2,610,613. The company has a current ratio of 2.29, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The company has a market cap of $32.44 billion, a PE ratio of 39.03, a P/E/G 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 stock's 50 day moving average price is $77.05 and its two-hundred day moving average price is $87.67.

Ingersoll Rand (NYSE:IR - Get Free Report) last issued its earnings results on Thursday, May 1st. The industrial products company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.02). The business had revenue of $1.72 billion for 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 firm's revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.78 EPS. Research analysts expect that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand announced that its Board of Directors has approved a stock buyback plan on Thursday, May 1st that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to purchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Ingersoll Rand Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 15th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.10%. The ex-dividend date of this dividend is Thursday, May 15th. Ingersoll Rand's payout ratio is 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.