Ingersoll Rand Inc. (NYSE:IR) Shares Acquired by Strategic Wealth Partners Ltd.

Strategic Wealth Partners Ltd. lifted its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 22.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,717 shares of the industrial products company’s stock after purchasing an additional 863 shares during the quarter. Strategic Wealth Partners Ltd.’s holdings in Ingersoll Rand were worth $437,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Murphy & Mullick Capital Management Corp acquired a new position in Ingersoll Rand in the fourth quarter valued at $36,000. OFI Invest Asset Management purchased a new position in Ingersoll Rand in the fourth quarter valued at about $38,000. Lee Danner & Bass Inc. purchased a new position in Ingersoll Rand in the fourth quarter valued at about $42,000. Ancora Advisors LLC raised its position in Ingersoll Rand by 144.8% in the fourth quarter. Ancora Advisors LLC now owns 497 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 294 shares during the period. Finally, Millstone Evans Group LLC purchased a new position in Ingersoll Rand in the fourth quarter valued at about $50,000. Institutional investors and hedge funds own 95.27% of the company’s stock.

Ingersoll Rand Stock Up 1.2%

Shares of Ingersoll Rand stock opened at $84.03 on Monday. 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 firm has a market cap of $33.90 billion, a P/E ratio of 40.79, a P/E/G ratio of 3.50 and a beta of 1.42. Ingersoll Rand Inc. has a fifty-two week low of $65.61 and a fifty-two week high of $106.03. The business has a 50-day moving average price of $77.02 and a 200 day moving average price of $88.03.

Ingersoll Rand (NYSE:IR) last issued its earnings results on Thursday, May 1st. The industrial products company reported $0.72 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 analyst estimates of $1.73 billion. During the same quarter in the previous year, the firm earned $0.78 earnings per share. The business’s revenue was up 2.8% on a year-over-year basis. On average, sell-side analysts forecast that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 15th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. Ingersoll Rand’s payout ratio is currently 3.96%.

Ingersoll Rand declared that its Board of Directors has initiated a stock buyback program on Thursday, May 1st that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the industrial products company to repurchase up to 3.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

IR has been the topic of a number of analyst reports. Wells Fargo & Company lifted their target price on Ingersoll Rand from $80.00 to $86.00 and gave the stock an “overweight” rating in a research report on Monday, May 5th. Evercore ISI dropped their target price on Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 19th. Barclays dropped their target price on Ingersoll Rand from $93.00 to $85.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Stifel Nicolaus dropped their target price on Ingersoll Rand from $94.00 to $77.00 and set a “hold” rating on the stock in a research report on Monday, April 14th. Finally, Citigroup boosted their price objective on Ingersoll Rand from $88.00 to $91.00 and gave the company a “buy” rating in a report on Monday, May 5th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.91.

Insider Buying and Selling at Ingersoll Rand

In other news, insider Elizabeth Meloy Hepding sold 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $83.78, for a total transaction of $293,230.00. Following the completion of the transaction, the insider now directly owns 10,986 shares in the company, valued at approximately $920,407.08. The trade was a 24.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.59% of the stock is currently owned by insiders.

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.