85,831 Shares in Ingersoll Rand Inc. (NYSE:IR) Acquired by Voloridge Investment Management LLC

Voloridge Investment Management LLC bought a new stake in Ingersoll Rand Inc. (NYSE:IR - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 85,831 shares of the industrial products company's stock, valued at approximately $7,764,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in Ingersoll Rand by 8.7% in the third quarter. JPMorgan Chase & Co. now owns 18,229,178 shares of the industrial products company's stock valued at $1,789,376,000 after buying an additional 1,462,538 shares in the last quarter. Merit Financial Group LLC acquired a new position in Ingersoll Rand in the fourth quarter valued at about $229,000. Atomi Financial Group Inc. acquired a new position in Ingersoll Rand in the fourth quarter valued at about $226,000. Janney Montgomery Scott LLC boosted its position in Ingersoll Rand by 1.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 84,347 shares of the industrial products company's stock valued at $7,630,000 after buying an additional 1,542 shares in the last quarter. Finally, Mutual Advisors LLC boosted its position in Ingersoll Rand by 12.2% in the fourth quarter. Mutual Advisors LLC now owns 3,996 shares of the industrial products company's stock valued at $363,000 after buying an additional 436 shares in the last quarter. Institutional investors own 95.27% of the company's stock.

Analysts Set New Price Targets

IR has been the topic of a number of research reports. Citigroup upped their target price on shares of Ingersoll Rand from $88.00 to $91.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Barclays reduced their target price 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. Wells Fargo & Company upped their target price on shares of Ingersoll Rand from $80.00 to $86.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Stifel Nicolaus reduced their target price on shares of Ingersoll Rand from $94.00 to $77.00 and set a "hold" rating on the stock in a research report on Monday, April 14th. Finally, Robert W. Baird upped their target price on shares of Ingersoll Rand from $105.00 to $111.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, Ingersoll Rand currently has an average rating of "Moderate Buy" and a consensus target price of $98.91.

Insider Buying and Selling at Ingersoll Rand

In other news, insider Elizabeth Meloy Hepding sold 3,500 shares of Ingersoll Rand stock in a transaction dated 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 trade represents a 24.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Vicente Reynal sold 38,657 shares of Ingersoll Rand stock in a transaction dated 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 sale, 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. Insiders own 0.68% of the company's stock.

Ingersoll Rand Price Performance

NYSE IR traded down $0.65 on Friday, hitting $81.50. 733,938 shares of the company's stock were exchanged, compared to its average volume of 2,589,379. The company has a current ratio of 2.29, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. Ingersoll Rand Inc. has a 52 week low of $65.61 and a 52 week high of $106.03. The stock has a market cap of $32.88 billion, a price-to-earnings ratio of 39.65, a P/E/G ratio of 3.50 and a beta of 1.42. The stock has a 50-day moving average of $77.05 and a 200-day moving average of $87.07.

Ingersoll Rand (NYSE:IR - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The industrial products company reported $0.72 EPS for the quarter, missing analysts' consensus estimates of $0.74 by ($0.02). The firm 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 firm's revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.78 earnings per share. Analysts expect that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 15th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date of this dividend is Thursday, May 15th. Ingersoll Rand's dividend payout ratio is presently 3.96%.

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

Ingersoll Rand Company 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.