Centiva Capital LP Acquires 19,826 Shares of Ingersoll Rand Inc. (NYSE:IR)

Centiva Capital LP increased its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 593.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 23,164 shares of the industrial products company’s stock after buying an additional 19,826 shares during the period. Centiva Capital LP’s holdings in Ingersoll Rand were worth $2,095,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of IR. Murphy & Mullick Capital Management Corp purchased a new position in shares of Ingersoll Rand in the 4th quarter worth approximately $36,000. OFI Invest Asset Management acquired a new position in shares of Ingersoll Rand during the fourth quarter worth $38,000. Lee Danner & Bass Inc. purchased a new stake in shares of Ingersoll Rand during the 4th quarter valued at $42,000. Ancora Advisors LLC boosted its position in shares of 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 purchasing an additional 294 shares in the last quarter. Finally, Millstone Evans Group LLC purchased a new position in Ingersoll Rand during the 4th quarter worth $50,000. Institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Stock Down 1.2 %

Ingersoll Rand stock opened at $76.01 on Wednesday. Ingersoll Rand Inc. has a 12 month low of $65.61 and a 12 month high of $106.03. The stock has a market capitalization of $30.64 billion, a PE ratio of 36.90, a price-to-earnings-growth ratio of 3.50 and a beta of 1.42. 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 has a 50 day simple moving average of $77.30 and a 200-day simple moving average of $88.94.

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

Ingersoll Rand Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Thursday, May 15th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.11%. The ex-dividend date is Thursday, May 15th. Ingersoll Rand’s payout ratio is 3.96%.

Ingersoll Rand declared that its board has authorized a stock repurchase plan 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 buy up to 3.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

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