Banque Transatlantique SA Acquires New Shares in Ingersoll Rand Inc. (NYSE:IR)

Banque Transatlantique SA bought a new position in Ingersoll Rand Inc. (NYSE:IR) during the 4th quarter, Holdings Channel reports. The fund bought 479,654 shares of the industrial products company’s stock, valued at approximately $43,637,000. Ingersoll Rand comprises 1.0% of Banque Transatlantique SA’s holdings, making the stock its 25th largest position.

Several other large investors have also made changes to their positions in the business. Norges Bank acquired a new stake in shares of Ingersoll Rand during the 4th quarter worth approximately $429,591,000. Capital International Investors raised its stake in Ingersoll Rand by 4.6% during the fourth quarter. Capital International Investors now owns 36,673,865 shares of the industrial products company’s stock worth $3,317,537,000 after acquiring an additional 1,606,363 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Ingersoll Rand by 8.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 18,229,178 shares of the industrial products company’s stock valued at $1,789,376,000 after purchasing an additional 1,462,538 shares in the last quarter. FMR LLC increased its position in shares of Ingersoll Rand by 8.2% during the 4th quarter. FMR LLC now owns 17,472,317 shares of the industrial products company’s stock worth $1,580,546,000 after purchasing an additional 1,320,223 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in Ingersoll Rand by 5.9% in the fourth quarter. Franklin Resources Inc. now owns 12,277,177 shares of the industrial products company’s stock valued at $1,110,593,000 after buying an additional 679,856 shares in the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on IR. Robert W. Baird increased their target price on Ingersoll Rand from $105.00 to $111.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Citigroup decreased their price target on shares of Ingersoll Rand from $109.00 to $88.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Stifel Nicolaus reduced their price objective on Ingersoll Rand from $94.00 to $77.00 and set a “hold” rating on the stock in a report on Monday, April 14th. Barclays lowered their target price on Ingersoll Rand from $93.00 to $85.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. Finally, Evercore ISI lowered their price objective 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. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Ingersoll Rand presently has an average rating of “Moderate Buy” and an average price target of $100.36.

Ingersoll Rand Trading Up 0.7 %

NYSE:IR opened at $76.72 on Friday. 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 business’s 50-day simple moving average is $77.57 and its 200-day simple moving average is $89.28. Ingersoll Rand Inc. has a fifty-two week low of $65.61 and a fifty-two week high of $106.03. The stock has a market capitalization of $30.92 billion, a PE ratio of 37.24, a price-to-earnings-growth ratio of 3.50 and a beta of 1.40.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings results 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). 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 analyst estimates of $1.73 billion. During the same quarter last year, the company earned $0.78 EPS. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. Sell-side analysts expect that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The company also recently disclosed 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 is Thursday, May 15th. This represents a $0.08 annualized dividend and a dividend yield of 0.10%. Ingersoll Rand’s dividend payout ratio is currently 3.88%.

Ingersoll Rand declared that its board has authorized a share repurchase program on Thursday, May 1st that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the industrial products company to buy up to 3.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

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.