Cetera Investment Advisers Purchases 3,067 Shares of Ingersoll Rand Inc. (NYSE:IR)

Cetera Investment Advisers grew its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 5.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 59,354 shares of the industrial products company’s stock after purchasing an additional 3,067 shares during the quarter. Cetera Investment Advisers’ holdings in Ingersoll Rand were worth $5,369,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Centiva Capital LP grew its holdings in Ingersoll Rand by 593.9% during the 4th quarter. Centiva Capital LP now owns 23,164 shares of the industrial products company’s stock worth $2,095,000 after acquiring an additional 19,826 shares in the last quarter. Bridgefront Capital LLC bought a new position in Ingersoll Rand during the 4th quarter worth about $313,000. Captrust Financial Advisors grew its holdings in Ingersoll Rand by 11.8% during the 4th quarter. Captrust Financial Advisors now owns 13,387 shares of the industrial products company’s stock worth $1,211,000 after acquiring an additional 1,409 shares in the last quarter. Cary Street Partners Financial LLC bought a new position in Ingersoll Rand during the 4th quarter worth about $264,000. Finally, Banque Transatlantique SA bought a new position in Ingersoll Rand during the 4th quarter worth about $43,637,000. 95.27% of the stock is owned by hedge funds and other institutional investors.

Ingersoll Rand Stock Performance

IR opened at $84.53 on Wednesday. Ingersoll Rand Inc. has a 52-week low of $65.61 and a 52-week high of $106.03. 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 company has a market cap of $34.10 billion, a P/E ratio of 41.03, a price-to-earnings-growth ratio of 3.50 and a beta of 1.42. The firm’s 50-day moving average price is $77.04 and its 200-day moving average price is $88.37.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings data 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 company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter last year, the company earned $0.78 EPS. The business’s revenue was up 2.8% compared to the same quarter last year. As a group, equities analysts anticipate that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

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

Ingersoll Rand Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Thursday, May 15th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.08 annualized dividend and a yield of 0.09%. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.96%.

Analysts Set New Price Targets

Several brokerages have issued reports on IR. Evercore ISI dropped their target price on shares of Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Wells Fargo & Company increased their price target on shares of Ingersoll Rand from $80.00 to $86.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. Robert W. Baird increased their price target on shares of Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Barclays decreased their price target on shares of Ingersoll Rand from $93.00 to $85.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Finally, Citigroup increased their price target on shares of Ingersoll Rand from $88.00 to $91.00 and gave the company a “buy” 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 company’s stock. Based on data from MarketBeat, the company presently 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.