NorthRock Partners LLC Invests $483,000 in Ingersoll Rand Inc. (NYSE:IR)

NorthRock Partners LLC bought a new stake in Ingersoll Rand Inc. (NYSE:IR - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 5,344 shares of the industrial products company's stock, valued at approximately $483,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Murphy & Mullick Capital Management Corp bought a new position in shares of Ingersoll Rand in the fourth quarter worth about $36,000. OFI Invest Asset Management bought a new position in Ingersoll Rand in the 4th quarter worth approximately $38,000. Lee Danner & Bass Inc. bought a new position in Ingersoll Rand in the 4th quarter worth approximately $42,000. Ancora Advisors LLC increased its position in Ingersoll Rand by 144.8% in the 4th quarter. Ancora Advisors LLC now owns 497 shares of the industrial products company's stock worth $45,000 after buying an additional 294 shares during the period. Finally, Millstone Evans Group LLC bought a new position in Ingersoll Rand in the 4th quarter worth approximately $50,000. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Ingersoll Rand Price Performance

Shares of IR stock opened at $84.03 on Friday. The stock's fifty day simple moving average is $77.02 and its 200 day simple moving average is $88.15. 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 has a market cap of $33.90 billion, a price-to-earnings ratio of 40.79, a P/E/G ratio of 3.50 and a beta of 1.42. Ingersoll Rand Inc. has a one year low of $65.61 and a one year high of $106.03.

Ingersoll Rand (NYSE:IR - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The industrial products company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.02). The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.73 billion. Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. Ingersoll Rand's quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.78 EPS. On average, analysts expect that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

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 paid a $0.02 dividend. 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 dividend payout ratio is 3.96%.

Ingersoll Rand declared that its board has approved a share repurchase program 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 buy up to 3.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages have commented on IR. Barclays dropped their price target on Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Evercore ISI dropped their price target on 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. Robert W. Baird lifted their price target on Ingersoll Rand from $105.00 to $111.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. Citigroup lifted their price target on Ingersoll Rand from $88.00 to $91.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Finally, Wells Fargo & Company boosted their price objective on Ingersoll Rand from $80.00 to $86.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus 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 business's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $83.78, for a total value of $293,230.00. Following the transaction, the insider now owns 10,986 shares of the company's stock, valued at approximately $920,407.08. The trade was a 24.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.59% of the stock is owned by 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.

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