Focus Partners Wealth Raises Holdings in Ingersoll Rand Inc. (NYSE:IR)

Focus Partners Wealth increased its position in Ingersoll Rand Inc. (NYSE:IR) by 204.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 13,967 shares of the industrial products company’s stock after acquiring an additional 9,372 shares during the quarter. Focus Partners Wealth’s holdings in Ingersoll Rand were worth $1,264,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Ingersoll Rand in the fourth quarter worth about $429,591,000. Capital International Investors boosted its holdings in Ingersoll Rand by 4.6% in the 4th quarter. Capital International Investors now owns 36,673,865 shares of the industrial products company’s stock worth $3,317,537,000 after buying an additional 1,606,363 shares during the period. JPMorgan Chase & Co. raised its holdings in Ingersoll Rand by 8.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 18,229,178 shares of the industrial products company’s stock valued at $1,789,376,000 after acquiring an additional 1,462,538 shares during the period. FMR LLC lifted its position in shares of Ingersoll Rand by 8.2% during the fourth quarter. FMR LLC now owns 17,472,317 shares of the industrial products company’s stock worth $1,580,546,000 after acquiring an additional 1,320,223 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of Ingersoll Rand by 5.9% in the fourth quarter. Franklin Resources Inc. now owns 12,277,177 shares of the industrial products company’s stock worth $1,110,593,000 after acquiring an additional 679,856 shares during the period. 95.27% of the stock is currently owned by institutional investors.

Ingersoll Rand Stock Up 1.2%

IR opened at $84.03 on Friday. The business’s fifty day simple moving average is $77.02 and its 200 day simple moving average is $88.09. 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 stock has a market cap of $33.90 billion, a PE ratio of 40.79, a P/E/G ratio of 3.50 and a beta of 1.42.

Ingersoll Rand (NYSE:IR) last announced 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). The firm had revenue of $1.72 billion for 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%. The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.78 earnings per share. As a group, research analysts expect that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand announced that its board has authorized a share repurchase plan on Thursday, May 1st that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the industrial products company to reacquire up to 3.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

Ingersoll Rand Dividend Announcement

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

Insider Activity

In related news, insider Elizabeth Meloy Hepding sold 3,500 shares of the firm’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 transaction, the insider now directly owns 10,986 shares in the company, valued at $920,407.08. This trade represents a 24.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.59% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Barclays decreased their price objective on Ingersoll Rand from $93.00 to $85.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Robert W. Baird increased their price target on shares of Ingersoll Rand from $105.00 to $111.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Evercore ISI reduced their price objective on shares of Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. Citigroup increased their target price 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. Finally, Stifel Nicolaus decreased 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. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.