Rhumbline Advisers Grows Holdings in Ingersoll Rand Inc. (NYSE:IR)

Rhumbline Advisers grew its stake in Ingersoll Rand Inc. (NYSE:IR) by 6.5% during the first quarter, Holdings Channel.com reports. The fund owned 746,554 shares of the industrial products company’s stock after acquiring an additional 45,417 shares during the period. Rhumbline Advisers’ holdings in Ingersoll Rand were worth $59,747,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in IR. Savant Capital LLC grew its holdings in Ingersoll Rand by 2.3% during the 4th quarter. Savant Capital LLC now owns 6,938 shares of the industrial products company’s stock worth $628,000 after acquiring an additional 158 shares in the last quarter. abrdn plc raised its position in Ingersoll Rand by 70.5% in the 4th quarter. abrdn plc now owns 262,863 shares of the industrial products company’s stock valued at $23,851,000 after purchasing an additional 108,700 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Ingersoll Rand by 8.0% during the 4th 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 buying an additional 5,197 shares during the last quarter. Paradigm Asset Management Co. LLC purchased a new position in Ingersoll Rand during the 4th quarter worth $1,520,000. Finally, Vanguard Group Inc. raised its position in Ingersoll Rand by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 45,684,016 shares of the industrial products company’s stock worth $4,132,576,000 after buying an additional 446,591 shares during the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on IR. Wells Fargo & Company upped their price target on shares of Ingersoll Rand from $80.00 to $86.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Citigroup raised their price target on shares of Ingersoll Rand from $88.00 to $91.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. Stifel Nicolaus cut their price target 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. Evercore ISI dropped their price objective on shares of Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 19th. Finally, Robert W. Baird raised their price target on shares of Ingersoll Rand from $105.00 to $111.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $98.91.

Insider Buying and Selling

In other Ingersoll Rand news, insider Elizabeth Meloy Hepding sold 3,500 shares of Ingersoll Rand stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $83.78, for a total transaction of $293,230.00. Following the transaction, the insider now 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Vicente Reynal sold 38,657 shares of Ingersoll Rand 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 transaction, the insider now directly owns 193,186 shares in the company, valued at approximately $16,040,233.58. This trade represents a 16.67% decrease in their position. The disclosure for this sale can be found here. 0.59% of the stock is currently owned by company insiders.

Ingersoll Rand Stock Performance

IR stock opened at $80.97 on Tuesday. Ingersoll Rand Inc. has a 1 year low of $65.61 and a 1 year high of $106.03. The stock’s fifty day moving average is $77.02 and its two-hundred day moving average is $86.53. 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 capitalization of $32.67 billion, a price-to-earnings ratio of 39.31, a PEG ratio of 3.50 and a beta of 1.42.

Ingersoll Rand (NYSE:IR) last issued 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 net margin of 11.59% and a return on equity of 12.78%. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the prior year, the firm earned $0.78 earnings per share. Ingersoll Rand’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, research analysts predict that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Announces Dividend

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 given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.10%. The ex-dividend date is Thursday, May 15th. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.96%.

Ingersoll Rand announced that its Board of Directors has approved a stock buyback 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 buy up to 3.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

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.