Schonfeld Strategic Advisors LLC Has $2.65 Million Stake in Ingersoll Rand Inc. (NYSE:IR)

Schonfeld Strategic Advisors LLC increased its holdings in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 396.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,258 shares of the industrial products company's stock after purchasing an additional 23,366 shares during the period. Schonfeld Strategic Advisors LLC's holdings in Ingersoll Rand were worth $2,647,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of IR. Savant Capital LLC lifted its holdings in shares of Ingersoll Rand by 2.3% during the fourth quarter. Savant Capital LLC now owns 6,938 shares of the industrial products company's stock worth $628,000 after purchasing an additional 158 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Ingersoll Rand by 19.1% in the 4th quarter. Nordea Investment Management AB now owns 1,691,399 shares of the industrial products company's stock valued at $153,867,000 after buying an additional 271,381 shares during the period. abrdn plc grew its holdings in Ingersoll Rand by 70.5% during the fourth quarter. abrdn plc now owns 262,863 shares of the industrial products company's stock worth $23,851,000 after acquiring an additional 108,700 shares during the period. AdvisorNet Financial Inc lifted its holdings in Ingersoll Rand by 441.4% in the fourth quarter. AdvisorNet Financial Inc now owns 18,652 shares of the industrial products company's stock valued at $1,687,000 after acquiring an additional 15,207 shares during the period. Finally, tru Independence LLC purchased a new stake in Ingersoll Rand during the fourth quarter worth about $291,000. 95.27% of the stock is owned by hedge funds and other institutional investors.

Ingersoll Rand Stock Performance

NYSE IR traded up $1.96 on Wednesday, hitting $77.88. The stock had a trading volume of 5,279,828 shares, compared to its average volume of 2,596,087. Ingersoll Rand Inc. has a one year low of $65.61 and a one year high of $106.03. 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 stock has a market cap of $31.39 billion, a price-to-earnings ratio of 37.81, a P/E/G ratio of 3.50 and a beta of 1.42. The company's 50-day moving average is $77.16 and its two-hundred day moving average is $88.87.

Ingersoll Rand (NYSE:IR - Get Free Report) last announced its earnings results 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). Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the prior year, the company earned $0.78 EPS. The business's quarterly revenue was up 2.8% on a year-over-year basis. On average, analysts expect that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand declared that its board has authorized a stock repurchase 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 typically an indication that the company's board of directors believes its stock is undervalued.

Ingersoll Rand Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Thursday, May 15th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.10%. The ex-dividend date is Thursday, May 15th. Ingersoll Rand's dividend payout ratio is presently 3.96%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Evercore ISI reduced their price target on shares of Ingersoll Rand from $100.00 to $91.00 and set an "in-line" rating on the stock in a report on Wednesday, February 19th. Citigroup lifted their price objective on Ingersoll Rand from $88.00 to $91.00 and gave the stock a "buy" rating in a research report on Monday. Robert W. Baird lifted their price target on shares of Ingersoll Rand from $105.00 to $111.00 and gave the stock an "outperform" rating in a report on Tuesday, February 18th. 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. Finally, Barclays decreased their price objective on Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently 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.