Illinois Municipal Retirement Fund Raises Position in Ingersoll Rand Inc. (NYSE:IR)

Illinois Municipal Retirement Fund increased its holdings in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 297.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 75,353 shares of the industrial products company's stock after buying an additional 56,394 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Ingersoll Rand were worth $5,828,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new stake in Ingersoll Rand in the third quarter worth about $25,000. ANTIPODES PARTNERS Ltd purchased a new stake in Ingersoll Rand in the 4th quarter worth approximately $27,000. Quintet Private Bank Europe S.A. bought a new stake in Ingersoll Rand during the 3rd quarter worth approximately $28,000. Clearstead Advisors LLC boosted its position in shares of Ingersoll Rand by 348.2% in the third quarter. Clearstead Advisors LLC now owns 493 shares of the industrial products company's stock worth $31,000 after purchasing an additional 383 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Ingersoll Rand in the third quarter worth $32,000. 95.27% of the stock is currently owned by institutional investors.

Ingersoll Rand Trading Up 2.1 %

NYSE IR traded up $1.93 during trading hours on Wednesday, hitting $92.50. 4,208,474 shares of the company were exchanged, compared to its average volume of 2,461,520. The stock has a market cap of $37.32 billion, a PE ratio of 48.39, a price-to-earnings-growth ratio of 3.09 and a beta of 1.44. Ingersoll Rand Inc. has a 52 week low of $53.24 and a 52 week high of $96.17. The stock has a 50-day moving average price of $91.42 and a 200 day moving average price of $79.27. The company has a quick ratio of 1.67, a current ratio of 2.22 and a debt-to-equity ratio of 0.27.

Ingersoll Rand (NYSE:IR - Get Free Report) last posted its quarterly earnings data on Thursday, February 15th. The industrial products company reported $0.83 earnings per share for the quarter, beating analysts' consensus estimates of $0.74 by $0.09. The business had revenue of $1.82 billion for the quarter, compared to analysts' expectations of $1.76 billion. Ingersoll Rand had a net margin of 11.32% and a return on equity of 12.24%. Analysts forecast that Ingersoll Rand Inc. will post 3.1 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 7th were given a dividend of $0.02 per share. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $0.08 annualized dividend and a yield of 0.09%. Ingersoll Rand's dividend payout ratio (DPR) is presently 4.21%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Evercore ISI downgraded shares of Ingersoll Rand from an "outperform" rating to an "in-line" rating and upped their target price for the stock from $81.00 to $89.00 in a report on Tuesday, February 20th. Wells Fargo & Company boosted their price target on Ingersoll Rand from $83.00 to $100.00 and gave the stock an "overweight" rating in a report on Tuesday, February 20th. UBS Group increased their price objective on shares of Ingersoll Rand from $78.00 to $93.00 and gave the company a "buy" rating in a report on Monday, January 29th. StockNews.com raised shares of Ingersoll Rand from a "hold" rating to a "buy" rating in a report on Sunday, April 7th. Finally, Stifel Nicolaus restated a "buy" rating and set a $102.00 target price on shares of Ingersoll Rand in a research report on Tuesday, March 26th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $92.73.

Insider Activity

In related news, CAO Michael J. Scheske sold 7,590 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $88.00, for a total transaction of $667,920.00. Following the completion of the sale, the chief accounting officer now owns 9,715 shares of the company's stock, valued at $854,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Vicente Reynal sold 240,000 shares of the company's stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $90.16, for a total transaction of $21,638,400.00. Following the transaction, the insider now owns 91,957 shares in the company, valued at $8,290,843.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Michael J. Scheske sold 7,590 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $88.00, for a total transaction of $667,920.00. Following the completion of the transaction, the chief accounting officer now directly owns 9,715 shares of the company's stock, valued at $854,920. The disclosure for this sale can be found here. In the last three months, insiders have sold 293,011 shares of company stock worth $26,374,789. 0.83% of the stock is currently owned by company insiders.

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.