Balyasny Asset Management L.P. Lowers Stock Position in Ingersoll Rand Inc. (NYSE:IR)

Balyasny Asset Management L.P. reduced its position in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 99.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,045 shares of the industrial products company's stock after selling 668,023 shares during the quarter. Balyasny Asset Management L.P.'s holdings in Ingersoll Rand were worth $366,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Murphy & Mullick Capital Management Corp bought a new stake in shares of Ingersoll Rand in the 4th quarter valued at about $36,000. OFI Invest Asset Management bought a new position in Ingersoll Rand in the fourth quarter worth approximately $38,000. Lee Danner & Bass Inc. purchased a new stake in Ingersoll Rand during the fourth quarter worth $42,000. Ancora Advisors LLC boosted its position in Ingersoll Rand by 144.8% during the 4th quarter. Ancora Advisors LLC now owns 497 shares of the industrial products company's stock valued at $45,000 after acquiring an additional 294 shares in the last quarter. Finally, Millstone Evans Group LLC purchased a new position in shares of Ingersoll Rand in the 4th quarter valued at $50,000. 95.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Elizabeth Meloy Hepding sold 3,500 shares of the business's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $83.78, for a total value of $293,230.00. Following the completion of the transaction, the insider now owns 10,986 shares of the company's stock, valued at $920,407.08. The trade was a 24.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.59% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on IR shares. Robert W. Baird upped their price objective on Ingersoll Rand from $105.00 to $111.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 18th. Citigroup increased their price target on shares of Ingersoll Rand from $88.00 to $91.00 and gave the company a "buy" rating in a research report on Monday, May 5th. Stifel Nicolaus lowered 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. Evercore ISI cut their price objective on shares of 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. Finally, Barclays decreased their target price 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. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $98.91.

Ingersoll Rand Stock Performance

Shares of IR traded down $0.48 during trading hours on Thursday, reaching $80.71. 626,855 shares of the company traded hands, compared to its average volume of 2,605,542. The stock has a market capitalization of $32.56 billion, a P/E ratio of 39.26, a P/E/G ratio of 3.50 and a beta of 1.42. 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 business has a fifty day moving average price of $77.11 and a 200-day moving average price of $87.88. Ingersoll Rand Inc. has a 12-month low of $65.61 and a 12-month high of $106.03.

Ingersoll Rand (NYSE:IR - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period in the prior year, the company posted $0.78 earnings per share. The firm's revenue for the quarter was up 2.8% on a year-over-year basis. Equities analysts anticipate that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

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

Ingersoll Rand Announces Dividend

The firm also recently disclosed 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. This represents a $0.08 annualized dividend and a yield of 0.10%. The ex-dividend date is Thursday, May 15th. Ingersoll Rand's payout ratio is 3.96%.

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.