Mufg Securities Americas Inc. Buys Shares of 5,950 Ingersoll Rand Inc. (NYSE:IR)

Mufg Securities Americas Inc. acquired a new stake in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,950 shares of the industrial products company's stock, valued at approximately $538,000.

Several other hedge funds also recently made changes to their positions in IR. Savant Capital LLC raised its position in shares of Ingersoll Rand by 2.3% in the 4th quarter. Savant Capital LLC now owns 6,938 shares of the industrial products company's stock worth $628,000 after acquiring an additional 158 shares in the last quarter. abrdn plc raised its holdings in Ingersoll Rand by 70.5% in the fourth 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 in the last quarter. tru Independence LLC bought a new stake in shares of Ingersoll Rand during the 4th quarter valued at $291,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Ingersoll Rand by 8.0% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 70,506 shares of the industrial products company's stock worth $6,378,000 after buying an additional 5,197 shares during the period. Finally, Paradigm Asset Management Co. LLC purchased a new position in Ingersoll Rand during the 4th quarter valued at about $1,520,000. 95.27% of the stock is owned by hedge funds and other institutional investors.

Ingersoll Rand Trading Down 0.6%

Ingersoll Rand stock traded down $0.50 during midday trading on Monday, reaching $83.51. The stock had a trading volume of 2,818,277 shares, compared to its average volume of 2,614,605. 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 firm has a market cap of $33.69 billion, a price-to-earnings ratio of 40.54, a price-to-earnings-growth ratio of 3.50 and a beta of 1.42. Ingersoll Rand Inc. has a 52-week low of $65.61 and a 52-week high of $106.03. The company has a fifty day moving average of $77.02 and a 200 day moving average of $88.03.

Ingersoll Rand (NYSE:IR - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $1.72 billion for the quarter, compared to analysts' expectations of $1.73 billion. Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. Ingersoll Rand's revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.78 EPS. On average, analysts anticipate that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

The firm 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 $0.02 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.08 annualized dividend and a dividend yield of 0.10%. Ingersoll Rand's payout ratio is presently 3.96%.

Ingersoll Rand announced that its Board of Directors has initiated a share buyback program on Thursday, May 1st that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the industrial products company to purchase up to 3.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on IR. Evercore ISI lowered their price target on Ingersoll Rand from $100.00 to $91.00 and set an "in-line" rating for the company in a research report on Wednesday, February 19th. Stifel Nicolaus dropped their price objective on Ingersoll Rand from $94.00 to $77.00 and set a "hold" rating on the stock in a research report on Monday, April 14th. Wells Fargo & Company lifted their price target on shares of Ingersoll Rand from $80.00 to $86.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Robert W. Baird upped their price target 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. Finally, Citigroup lifted their target price on Ingersoll Rand from $88.00 to $91.00 and gave the company a "buy" rating in a research report on Monday, May 5th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $98.91.

Insider Activity at Ingersoll Rand

In other Ingersoll Rand news, insider Elizabeth Meloy Hepding sold 3,500 shares of the 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 sale, the insider now directly owns 10,986 shares of the company's stock, valued at approximately $920,407.08. This trade represents a 24.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.59% of the stock is currently owned by corporate insiders.

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.