First Trust Advisors LP Trims Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

First Trust Advisors LP trimmed its position in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 38.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 87,029 shares of the industrial products company's stock after selling 55,216 shares during the period. First Trust Advisors LP's holdings in Ingersoll Rand were worth $7,873,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Ingersoll Rand during the 4th quarter valued at $429,591,000. Capital International Investors grew its stake in Ingersoll Rand by 4.6% during the fourth quarter. Capital International Investors now owns 36,673,865 shares of the industrial products company's stock valued at $3,317,537,000 after acquiring an additional 1,606,363 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Ingersoll Rand by 8.7% in 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 in the last quarter. FMR LLC boosted its holdings in Ingersoll Rand by 8.2% in the 4th quarter. FMR LLC now owns 17,472,317 shares of the industrial products company's stock valued at $1,580,546,000 after purchasing an additional 1,320,223 shares during the period. Finally, Franklin Resources Inc. grew its position in shares of Ingersoll Rand by 5.9% during the 4th quarter. Franklin Resources Inc. now owns 12,277,177 shares of the industrial products company's stock valued at $1,110,593,000 after purchasing an additional 679,856 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors.

Ingersoll Rand Trading Up 0.7 %

Shares of Ingersoll Rand stock traded up $0.51 on Friday, hitting $76.72. The stock had a trading volume of 4,538,947 shares, compared to its average volume of 2,604,963. The stock's 50-day simple moving average is $77.57 and its two-hundred day simple moving average is $89.36. Ingersoll Rand Inc. has a one year low of $65.61 and a one year 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 stock has a market cap of $30.92 billion, a price-to-earnings ratio of 37.24, a PEG ratio of 3.50 and a beta of 1.40.

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 analysts' consensus estimates of $0.74 by ($0.02). The firm had revenue of $1.72 billion during 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%. Ingersoll Rand's revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.78 EPS. As a group, sell-side analysts predict that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand declared that its Board of Directors has approved a stock buyback program on Thursday, May 1st that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the industrial products company to purchase up to 3.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's management believes its shares are undervalued.

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 3.88%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on IR. Barclays reduced their target price on Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Stifel Nicolaus dropped their target price on shares of Ingersoll Rand from $94.00 to $77.00 and set a "hold" rating for the company in a research report on Monday, April 14th. Citigroup decreased their price target on shares of Ingersoll Rand from $109.00 to $88.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Wells Fargo & Company cut their target price on shares of Ingersoll Rand from $115.00 to $105.00 and set an "overweight" rating for the company in a research report on Tuesday, January 7th. Finally, Evercore ISI lowered their price target on Ingersoll Rand from $100.00 to $91.00 and set an "in-line" rating on the stock in a research report on Wednesday, February 19th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Ingersoll Rand has a consensus rating of "Moderate Buy" and a consensus price target of $100.36.

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.