35,484 Shares in Ingersoll Rand Inc. (NYSE:IR) Acquired by Occudo Quantitative Strategies LP

Occudo Quantitative Strategies LP acquired a new stake in Ingersoll Rand Inc. (NYSE:IR) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 35,484 shares of the industrial products company’s stock, valued at approximately $3,210,000. Ingersoll Rand makes up about 0.6% of Occudo Quantitative Strategies LP’s portfolio, making the stock its 29th biggest position.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. OMERS ADMINISTRATION Corp lifted its holdings in shares of Ingersoll Rand by 2.6% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 112,974 shares of the industrial products company’s stock valued at $10,220,000 after buying an additional 2,834 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Ingersoll Rand by 4.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,191 shares of the industrial products company’s stock worth $3,726,000 after purchasing an additional 1,741 shares during the period. Geller Advisors LLC raised its holdings in Ingersoll Rand by 5.1% in the 4th quarter. Geller Advisors LLC now owns 4,090 shares of the industrial products company’s stock worth $370,000 after purchasing an additional 198 shares during the period. Graham Capital Management L.P. raised its holdings in Ingersoll Rand by 44.2% in the 4th quarter. Graham Capital Management L.P. now owns 7,209 shares of the industrial products company’s stock worth $652,000 after purchasing an additional 2,209 shares during the period. Finally, Focus Partners Wealth raised its holdings in Ingersoll Rand by 204.0% in the 4th quarter. Focus Partners Wealth now owns 13,967 shares of the industrial products company’s stock worth $1,264,000 after purchasing an additional 9,372 shares during the period. 95.27% of the stock is owned by institutional investors.

Ingersoll Rand Stock Up 6.2%

Shares of NYSE:IR opened at $84.21 on Tuesday. Ingersoll Rand Inc. has a 1 year low of $65.61 and a 1 year high of $106.03. The business has a 50 day simple moving average of $77.05 and a two-hundred day simple moving average of $88.40. The firm has a market capitalization of $33.97 billion, a PE ratio of 40.88, 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.

Ingersoll Rand (NYSE:IR) last announced its earnings results on Thursday, May 1st. The industrial products company reported $0.72 earnings per share (EPS) 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 business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter last year, the firm earned $0.78 EPS. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. On average, equities analysts predict that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand announced that its board has authorized a stock buyback plan on Thursday, May 1st that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the industrial products company to buy up to 3.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Ingersoll Rand Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders 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 dividend yield of 0.10%. The ex-dividend date is Thursday, May 15th. Ingersoll Rand’s dividend payout ratio is presently 3.96%.

Analyst Upgrades and Downgrades

IR has been the topic of a number of recent research reports. Evercore ISI decreased their target price on Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Robert W. Baird raised their price objective on Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Stifel Nicolaus cut their price objective on Ingersoll Rand from $94.00 to $77.00 and set a “hold” rating for the company in a research report on Monday, April 14th. Citigroup raised their price objective on Ingersoll Rand from $88.00 to $91.00 and gave the company a “buy” rating in a research report on Monday, May 5th. Finally, Wells Fargo & Company raised 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 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 has an average rating of “Moderate Buy” and a consensus price target of $98.91.

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.