Dogwood Wealth Management LLC Has $522,000 Stake in Ingersoll Rand Inc. (NYSE:IR)

Dogwood Wealth Management LLC increased its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 10.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,767 shares of the industrial products company’s stock after buying an additional 559 shares during the quarter. Dogwood Wealth Management LLC’s holdings in Ingersoll Rand were worth $522,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in IR. Murphy & Mullick Capital Management Corp acquired a new stake in Ingersoll Rand during the fourth quarter worth approximately $36,000. OFI Invest Asset Management acquired a new stake in Ingersoll Rand during the fourth quarter worth approximately $38,000. Lee Danner & Bass Inc. acquired a new stake in Ingersoll Rand during the fourth quarter worth approximately $42,000. Ancora Advisors LLC grew its position in Ingersoll Rand by 144.8% during the fourth quarter. Ancora Advisors LLC now owns 497 shares of the industrial products company’s stock worth $45,000 after buying an additional 294 shares in the last quarter. Finally, Millstone Evans Group LLC acquired a new stake in Ingersoll Rand during the fourth quarter worth approximately $50,000. Institutional investors and hedge funds own 95.27% of the company’s stock.

Insiders Place Their Bets

In related news, insider Elizabeth Meloy Hepding sold 3,500 shares of the business’s stock in a transaction dated 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 $920,407.08. The trade was a 24.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Vicente Reynal sold 38,657 shares of the business’s stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $83.03, for a total value of $3,209,690.71. Following the completion of the sale, the insider now directly owns 193,186 shares of the company’s stock, valued at $16,040,233.58. The trade was a 16.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.59% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on IR. Stifel Nicolaus cut their target price on Ingersoll Rand from $94.00 to $77.00 and set a “hold” rating for the company in a research note on Monday, April 14th. Robert W. Baird upped their target price on Ingersoll Rand from $105.00 to $111.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Barclays cut 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. Citigroup upped their target price on Ingersoll Rand from $88.00 to $91.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. Finally, Wells Fargo & Company upped their target price on Ingersoll Rand from $80.00 to $86.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $98.91.

Ingersoll Rand Stock Down 1.0%

Shares of NYSE:IR opened at $80.41 on Tuesday. The firm has a market cap of $32.44 billion, a P/E ratio of 39.03, a P/E/G ratio of 3.50 and a beta of 1.42. The company has a quick ratio of 1.71, a current ratio of 2.29 and a debt-to-equity ratio of 0.46. Ingersoll Rand Inc. has a 12-month low of $65.61 and a 12-month high of $106.03. The business has a fifty day simple moving average of $77.01 and a 200 day simple moving average of $87.29.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings results 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 business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the previous year, the business posted $0.78 earnings per share. The business’s revenue was up 2.8% on a year-over-year basis. Analysts predict that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand announced that its Board of Directors has approved a share 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 often a sign that the company’s board of directors believes its stock is undervalued.

Ingersoll Rand Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 15th will be issued a dividend of $0.02 per share. 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 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.