Man Group plc Has $20.21 Million Position in Ingersoll Rand Inc. (NYSE:IR)

Man Group plc lessened its holdings in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 31.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 223,437 shares of the industrial products company's stock after selling 104,405 shares during the quarter. Man Group plc owned about 0.06% of Ingersoll Rand worth $20,212,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Nomura Holdings Inc. acquired a new stake in shares of Ingersoll Rand in the 4th quarter worth approximately $1,201,000. NorthRock Partners LLC acquired a new position in shares of Ingersoll Rand during the fourth quarter valued at approximately $483,000. Occudo Quantitative Strategies LP bought a new stake in Ingersoll Rand during the fourth quarter worth approximately $3,210,000. OMERS ADMINISTRATION Corp lifted its position in Ingersoll Rand by 2.6% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 112,974 shares of the industrial products company's stock worth $10,220,000 after purchasing an additional 2,834 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Ingersoll Rand by 4.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,191 shares of the industrial products company's stock valued at $3,726,000 after purchasing an additional 1,741 shares in the last quarter. Institutional investors own 95.27% of the company's stock.

Ingersoll Rand Trading Up 0.0%

IR traded up $0.01 during trading on Thursday, reaching $81.20. The company had a trading volume of 1,058,761 shares, compared to its average volume of 2,607,066. The firm's 50-day simple moving average is $77.11 and its 200 day simple moving average is $87.88. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.29. The company has a market cap of $32.76 billion, a price-to-earnings ratio of 39.42, a PEG ratio of 3.50 and a beta of 1.42. 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 released its 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). Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. The firm had revenue of $1.72 billion during the quarter, compared to analysts' expectations of $1.73 billion. During the same period last year, the business earned $0.78 earnings per share. The business's revenue was up 2.8% on a year-over-year basis. Equities research analysts anticipate that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 15th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.10%. The ex-dividend date of this dividend is Thursday, May 15th. Ingersoll Rand's payout ratio is 3.96%.

Ingersoll Rand announced that its board has initiated a share repurchase 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 repurchase up to 3.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on IR shares. Citigroup boosted their price objective on Ingersoll Rand from $88.00 to $91.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Evercore ISI dropped their price target 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. 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. Barclays reduced 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. Finally, Stifel Nicolaus dropped their target price 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. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $98.91.

Insider Buying and Selling at Ingersoll Rand

In other Ingersoll Rand news, insider Elizabeth Meloy Hepding sold 3,500 shares of Ingersoll Rand stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $83.78, for a total transaction of $293,230.00. Following 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.59% of the company's stock.

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.