Ingersoll Rand Inc. (NYSE:IR) Stock Position Lessened by Crestline Management LP

Crestline Management LP reduced its position in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 33.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 24,468 shares of the industrial products company's stock after selling 12,207 shares during the quarter. Crestline Management LP's holdings in Ingersoll Rand were worth $2,213,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cetera Investment Advisers grew its stake in shares of Ingersoll Rand by 5.4% during the 4th quarter. Cetera Investment Advisers now owns 59,354 shares of the industrial products company's stock valued at $5,369,000 after acquiring an additional 3,067 shares during the period. Centiva Capital LP boosted its position in shares of Ingersoll Rand by 593.9% during the 4th quarter. Centiva Capital LP now owns 23,164 shares of the industrial products company's stock valued at $2,095,000 after acquiring an additional 19,826 shares during the last quarter. Bridgefront Capital LLC bought a new position in shares of Ingersoll Rand during the 4th quarter valued at approximately $313,000. Captrust Financial Advisors boosted its position in shares of Ingersoll Rand by 11.8% during the 4th quarter. Captrust Financial Advisors now owns 13,387 shares of the industrial products company's stock valued at $1,211,000 after acquiring an additional 1,409 shares during the last quarter. Finally, Cary Street Partners Financial LLC bought a new position in shares of Ingersoll Rand during the 4th quarter valued at approximately $264,000. 95.27% of the stock is owned by hedge funds and other institutional investors.

Ingersoll Rand Stock Performance

Shares of Ingersoll Rand stock traded up $0.60 during trading hours on Tuesday, hitting $84.82. 1,120,412 shares of the company were exchanged, compared to its average volume of 2,613,830. The company has a current ratio of 2.29, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The business has a 50-day moving average of $77.05 and a 200-day moving average of $88.40. Ingersoll Rand Inc. has a 1 year low of $65.61 and a 1 year high of $106.03. The stock has a market capitalization of $34.22 billion, a price-to-earnings ratio of 41.17, a P/E/G ratio of 3.50 and a beta of 1.42.

Ingersoll Rand (NYSE:IR - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The industrial products company reported $0.72 earnings per share (EPS) 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 company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the prior year, the firm earned $0.78 earnings per share. The company's revenue for the quarter was up 2.8% on a year-over-year basis. As a group, analysts expect that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Investors 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 0.09%. The ex-dividend date is Thursday, May 15th. Ingersoll Rand's dividend payout ratio (DPR) is presently 3.96%.

Ingersoll Rand declared that its Board of Directors has initiated a share buyback plan on Thursday, May 1st that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to repurchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on IR shares. Wells Fargo & Company increased their target price on Ingersoll Rand from $80.00 to $86.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Stifel Nicolaus reduced their target price on Ingersoll Rand from $94.00 to $77.00 and set a "hold" rating on the stock in a research note on Monday, April 14th. Evercore ISI reduced their target price on Ingersoll Rand from $100.00 to $91.00 and set an "in-line" rating on the stock in a research note on Wednesday, February 19th. Citigroup raised their price target on Ingersoll Rand from $88.00 to $91.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Finally, Robert W. Baird raised their target price on shares of Ingersoll Rand from $105.00 to $111.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus 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.