Kovitz Investment Group Partners LLC Acquires Shares of 3,697 Ingersoll Rand Inc. (NYSE:IR)

Kovitz Investment Group Partners LLC bought a new stake in Ingersoll Rand Inc. (NYSE:IR - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 3,697 shares of the industrial products company's stock, valued at approximately $334,000.

Several other hedge funds also recently modified their holdings of the company. Virtu Financial LLC acquired a new stake in Ingersoll Rand during the third quarter worth approximately $864,000. Pine Valley Investments Ltd Liability Co increased its stake in Ingersoll Rand by 11.3% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 3,043 shares of the industrial products company's stock valued at $299,000 after purchasing an additional 309 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Ingersoll Rand during the third quarter worth about $562,000. Franklin Resources Inc. boosted its stake in Ingersoll Rand by 2.5% in the 3rd quarter. Franklin Resources Inc. now owns 11,597,321 shares of the industrial products company's stock worth $1,207,554,000 after buying an additional 278,710 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. grew its holdings in Ingersoll Rand by 58.8% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 5,728 shares of the industrial products company's stock valued at $564,000 after buying an additional 2,122 shares during the period. 95.27% of the stock is owned by institutional investors and hedge funds.

Ingersoll Rand Stock Down 1.2 %

IR traded down $0.94 during trading hours on Tuesday, reaching $76.01. 3,216,679 shares of the stock traded hands, compared to its average volume of 2,594,719. Ingersoll Rand Inc. has a fifty-two week low of $65.61 and a fifty-two week high of $106.03. The company has a market cap of $30.64 billion, a price-to-earnings ratio of 36.90, a PEG ratio of 3.50 and a beta of 1.40. 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 firm's fifty day simple moving average is $77.44 and its two-hundred day simple moving average is $89.03.

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 the consensus estimate of $0.74 by ($0.02). The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.73 billion. Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. Ingersoll Rand's revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.78 earnings per share. As a group, analysts forecast that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 15th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.08 annualized dividend and a dividend yield of 0.11%. Ingersoll Rand's dividend payout ratio is currently 3.88%.

Ingersoll Rand announced that its Board of Directors has authorized a share repurchase plan on Thursday, May 1st that authorizes the company to buyback $1.00 billion in outstanding 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 leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several research firms recently issued reports on IR. Wells Fargo & Company raised their target price on shares of Ingersoll Rand from $80.00 to $86.00 and gave the stock an "overweight" rating in a research report on Monday. Citigroup upped their price objective on Ingersoll Rand from $88.00 to $91.00 and gave the stock a "buy" rating in a report on Monday. 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 report on Monday, April 14th. Robert W. Baird upped their price target on Ingersoll Rand from $105.00 to $111.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 18th. Finally, Barclays reduced their price objective on Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $98.91.

Ingersoll Rand 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.