Gotham Asset Management LLC Sells 20,386 Shares of Ingersoll Rand Inc. (NYSE:IR)

Gotham Asset Management LLC trimmed its holdings in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 16.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 106,940 shares of the industrial products company's stock after selling 20,386 shares during the period. Gotham Asset Management LLC's holdings in Ingersoll Rand were worth $9,674,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Savant Capital LLC lifted its stake in shares of Ingersoll Rand by 2.3% during the fourth quarter. Savant Capital LLC now owns 6,938 shares of the industrial products company's stock valued at $628,000 after buying an additional 158 shares during the period. abrdn plc lifted its stake in shares of Ingersoll Rand by 70.5% during the 4th quarter. abrdn plc now owns 262,863 shares of the industrial products company's stock worth $23,851,000 after purchasing an additional 108,700 shares during the period. AdvisorNet Financial Inc lifted its stake in shares of Ingersoll Rand by 441.4% during the 4th quarter. AdvisorNet Financial Inc now owns 18,652 shares of the industrial products company's stock worth $1,687,000 after purchasing an additional 15,207 shares during the period. tru Independence LLC acquired a new stake in shares of Ingersoll Rand during the fourth quarter worth $291,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Ingersoll Rand by 8.0% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 70,506 shares of the industrial products company's stock valued at $6,378,000 after purchasing an additional 5,197 shares during the period. 95.27% of the stock is owned by institutional investors and hedge funds.

Ingersoll Rand Stock Down 0.3%

NYSE:IR traded down $0.29 during trading hours on Thursday, reaching $82.95. The company's stock had a trading volume of 2,732,410 shares, compared to its average volume of 2,622,188. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.29 and a quick ratio of 1.71. The company has a market cap of $33.47 billion, a price-to-earnings ratio of 40.27, a price-to-earnings-growth ratio of 3.50 and a beta of 1.42. Ingersoll Rand Inc. has a one year low of $65.61 and a one year high of $106.03. The business's 50-day moving average is $77.01 and its 200-day moving average is $88.34.

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

Ingersoll Rand announced that its Board of Directors has authorized a share repurchase 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 repurchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

Ingersoll Rand Announces Dividend

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 paid 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 yield of 0.10%. Ingersoll Rand's dividend payout ratio is currently 3.96%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Stifel Nicolaus dropped their price target 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. Barclays dropped their price objective on Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Robert W. Baird lifted their target price on Ingersoll Rand from $105.00 to $111.00 and gave the company an "outperform" rating in a report 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. Finally, Citigroup lifted their price objective on 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 assigned a buy rating to the stock. According to data from MarketBeat, Ingersoll Rand has an average rating of "Moderate Buy" and a consensus price target of $98.91.

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.