Voloridge Investment Management LLC acquired a new position in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 85,831 shares of the industrial products company's stock, valued at approximately $7,764,000.
Other hedge funds have also modified their holdings of the company. Chicago Partners Investment Group LLC boosted its stake in shares of Ingersoll Rand by 4.7% during 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 raised its holdings in Ingersoll Rand by 5.8% during 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 in the last quarter. Lake Street Advisors Group LLC boosted its position in Ingersoll Rand by 6.6% during 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 purchasing an additional 141 shares during the last quarter. Greenleaf Trust grew its stake in Ingersoll Rand by 2.2% in the fourth 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 in the last quarter. Finally, Wilmington Savings Fund Society FSB increased its position in shares of Ingersoll Rand by 2.5% during 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 during the last quarter. 95.27% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several equities research analysts have recently commented on IR shares. Evercore ISI cut their price objective 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 upped their price target 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. Barclays decreased their price objective on shares of Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Robert W. Baird upped their target price on shares of Ingersoll Rand from $105.00 to $111.00 and gave the company an "outperform" rating in a report on Tuesday, February 18th. Finally, Citigroup raised their target price on shares of Ingersoll Rand from $88.00 to $91.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Ingersoll Rand has a consensus rating of "Moderate Buy" and an average target price of $98.91.
Get Our Latest Analysis on Ingersoll Rand
Ingersoll Rand Stock Performance
IR stock traded up $0.23 during mid-day trading on Thursday, hitting $82.07. 1,575,317 shares of the company were exchanged, compared to its average volume of 2,594,413. Ingersoll Rand Inc. has a 1-year low of $65.61 and a 1-year high of $106.03. The stock has a market capitalization of $33.11 billion, a PE ratio of 39.82, a price-to-earnings-growth ratio of 3.50 and a beta of 1.42. The business has a 50 day simple moving average of $77.05 and a 200-day simple moving average of $87.22. 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 (NYSE:IR - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The industrial products company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.02). The firm 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 business's revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.78 earnings per share. On average, equities analysts forecast that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.
Ingersoll Rand Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. The ex-dividend date is Thursday, May 15th. Ingersoll Rand's dividend payout ratio is currently 3.96%.
Ingersoll Rand announced that its Board of Directors has initiated 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 purchase up to 3.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's leadership believes its stock is undervalued.
Insider Activity at Ingersoll Rand
In other 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 transaction of $293,230.00. Following the sale, the insider now directly owns 10,986 shares of the company's stock, valued at approximately $920,407.08. This represents a 24.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Vicente Reynal sold 38,657 shares of the firm's 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 in the company, valued at $16,040,233.58. The trade was a 16.67% decrease in their position. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by corporate insiders.
About Ingersoll Rand
(
Free Report)
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.
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