Azzad Asset Management Inc. ADV Raises Holdings in Ingersoll Rand Inc. (NYSE:IR)

Azzad Asset Management Inc. ADV lifted its stake in Ingersoll Rand Inc. (NYSE:IR) by 1.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,342 shares of the industrial products company’s stock after buying an additional 169 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Ingersoll Rand were worth $1,207,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Savant Capital LLC boosted its position in 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 in the last quarter. abrdn plc boosted its position 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 purchasing an additional 108,700 shares in the last quarter. tru Independence LLC purchased a new position in Ingersoll Rand during the fourth quarter worth approximately $291,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Ingersoll Rand by 8.0% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 70,506 shares of the industrial products company’s stock worth $6,378,000 after purchasing an additional 5,197 shares in the last quarter. Finally, Paradigm Asset Management Co. LLC purchased a new position in Ingersoll Rand during the fourth quarter worth approximately $1,520,000. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on IR. Barclays lowered their price target 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 decreased 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. Citigroup raised their target price on Ingersoll Rand from $88.00 to $91.00 and gave the company a “buy” rating in a research report on Monday, May 5th. 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 research report on Wednesday, February 19th. Finally, Wells Fargo & Company raised their target price 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 research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Ingersoll Rand presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.91.

Ingersoll Rand Price Performance

NYSE:IR opened at $80.41 on Monday. Ingersoll Rand Inc. has a one year low of $65.61 and a one year high of $106.03. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.29. The stock has a market cap of $32.44 billion, a PE ratio of 39.03, a P/E/G ratio of 3.50 and a beta of 1.42. The stock has a 50 day moving average price of $77.05 and a 200 day moving average price of $87.45.

Ingersoll Rand (NYSE:IR) last posted 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). The business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. Ingersoll Rand’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.78 EPS. Equities research analysts expect that Ingersoll Rand Inc. will post 3.32 EPS 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 given a $0.02 dividend. The ex-dividend date 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 has authorized a stock repurchase plan on Thursday, May 1st that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the industrial products company to repurchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Ingersoll Rand

In other news, insider Elizabeth Meloy Hepding sold 3,500 shares of Ingersoll Rand stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $83.78, for a total value of $293,230.00. Following the completion of the sale, the insider now directly owns 10,986 shares of the company’s stock, 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 can be accessed through this hyperlink. Also, insider Vicente Reynal sold 38,657 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $83.03, for a total value of $3,209,690.71. Following the transaction, the insider now directly owns 193,186 shares in the company, valued at approximately $16,040,233.58. The trade was a 16.67% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.59% of the company’s stock.

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.