Ingersoll Rand Inc. (NYSE:IR) Position Increased by FORA Capital LLC

FORA Capital LLC increased its position in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 42.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,187 shares of the industrial products company's stock after purchasing an additional 9,332 shares during the quarter. FORA Capital LLC's holdings in Ingersoll Rand were worth $2,821,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Fullcircle Wealth LLC purchased a new position in shares of Ingersoll Rand in the fourth quarter valued at $209,000. Clark Capital Management Group Inc. raised its holdings in Ingersoll Rand by 2.1% in the fourth quarter. Clark Capital Management Group Inc. now owns 9,028 shares of the industrial products company's stock valued at $817,000 after acquiring an additional 184 shares in the last quarter. D. E. Shaw & Co. Inc. raised its holdings in Ingersoll Rand by 195.9% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 185,026 shares of the industrial products company's stock valued at $16,737,000 after acquiring an additional 122,501 shares in the last quarter. Deutsche Bank AG raised its holdings in Ingersoll Rand by 23.3% in the fourth quarter. Deutsche Bank AG now owns 1,361,485 shares of the industrial products company's stock valued at $123,160,000 after acquiring an additional 257,719 shares in the last quarter. Finally, EP Wealth Advisors LLC raised its holdings in Ingersoll Rand by 4.0% in the fourth quarter. EP Wealth Advisors LLC now owns 5,782 shares of the industrial products company's stock valued at $523,000 after acquiring an additional 221 shares in the last quarter. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Ingersoll Rand Price Performance

IR traded up $0.06 on Friday, reaching $79.29. The company had a trading volume of 3,023,738 shares, compared to its average volume of 2,601,892. The company has a fifty day moving average of $77.05 and a 200-day moving average of $88.48. The company has a market capitalization of $31.96 billion, a P/E ratio of 38.49, a PEG ratio of 3.50 and a beta of 1.42. 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 one year low of $65.61 and a one year high of $106.03.

Ingersoll Rand (NYSE:IR - Get Free Report) last issued its quarterly earnings results 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). Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. The business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period in the previous year, the company posted $0.78 earnings per share. Ingersoll Rand's revenue was up 2.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand announced that its board has approved a share repurchase plan on Thursday, May 1st that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the industrial products company to purchase up to 3.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its shares are undervalued.

Ingersoll Rand Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on IR. Citigroup upped their price target on shares of Ingersoll Rand from $88.00 to $91.00 and gave the company a "buy" rating in a report on Monday, May 5th. Stifel Nicolaus cut their price target on shares of Ingersoll Rand from $94.00 to $77.00 and set a "hold" rating on the stock in a report on Monday, April 14th. Barclays cut their price target on shares of Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Robert W. Baird upped their price target 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, Wells Fargo & Company upped their price target on shares of Ingersoll Rand from $80.00 to $86.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Five 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, the stock presently has an average rating of "Moderate Buy" and an average price target of $98.91.

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.