ProShare Advisors LLC Acquires 6,166 Shares of Ingersoll Rand Inc. (NYSE:IR)

ProShare Advisors LLC lifted its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 9.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,774 shares of the industrial products company’s stock after buying an additional 6,166 shares during the quarter. ProShare Advisors LLC’s holdings in Ingersoll Rand were worth $6,583,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of IR. Chicago Partners Investment Group LLC boosted its position in shares of Ingersoll Rand by 4.7% in the fourth quarter. Chicago Partners Investment Group LLC now owns 2,438 shares of the industrial products company’s stock valued at $218,000 after acquiring an additional 109 shares during the period. UMB Bank n.a. lifted its stake in Ingersoll Rand by 27.0% in the 4th quarter. UMB Bank n.a. now owns 598 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 127 shares in the last quarter. FSM Wealth Advisors LLC boosted its holdings in Ingersoll Rand by 5.8% in the 4th quarter. FSM Wealth Advisors LLC now owns 2,442 shares of the industrial products company’s stock valued at $222,000 after purchasing an additional 134 shares during the period. Park Avenue Securities LLC grew its position in shares of Ingersoll Rand by 3.3% during the 4th quarter. Park Avenue Securities LLC now owns 4,288 shares of the industrial products company’s stock valued at $388,000 after purchasing an additional 136 shares in the last quarter. Finally, Lake Street Advisors Group LLC increased its holdings in shares of Ingersoll Rand by 6.6% in the fourth quarter. Lake Street Advisors Group LLC now owns 2,273 shares of the industrial products company’s stock worth $206,000 after purchasing an additional 141 shares during the period. 95.27% of the stock is owned by institutional investors.

Insider Buying and Selling at Ingersoll Rand

In other Ingersoll Rand news, insider Elizabeth Meloy Hepding sold 3,500 shares of the firm’s stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $83.78, for a total value of $293,230.00. Following the sale, the insider now owns 10,986 shares of the company’s stock, valued at $920,407.08. This trade represents a 24.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Citigroup boosted their target price on Ingersoll Rand from $88.00 to $91.00 and gave the stock a “buy” rating in a research report on Monday, May 5th. Barclays cut their price objective on Ingersoll Rand from $93.00 to $85.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Robert W. Baird lifted their target price 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. Evercore ISI decreased their price target 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. Finally, Wells Fargo & Company raised their price objective 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. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Ingersoll Rand presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.91.

Ingersoll Rand Price Performance

IR stock opened at $84.03 on Monday. The firm has a market cap of $33.90 billion, a P/E ratio of 40.79, a P/E/G ratio of 3.50 and a beta of 1.42. The firm’s fifty day moving average is $77.02 and its 200 day moving average is $88.03. Ingersoll Rand Inc. has a 52 week low of $65.61 and a 52 week 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.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings data on Thursday, May 1st. The industrial products company reported $0.72 earnings per share (EPS) 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 period last year, the business posted $0.78 earnings per share. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. Research analysts predict that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand announced that its board has initiated 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 purchase up to 3.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Ingersoll Rand Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 15th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. Ingersoll Rand’s dividend payout ratio (DPR) is currently 3.96%.

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.