MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Boosts Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 4.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,191 shares of the industrial products company’s stock after purchasing an additional 1,741 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Ingersoll Rand were worth $3,726,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in IR. JPMorgan Chase & Co. increased its holdings in shares of 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 purchasing an additional 1,462,538 shares in the last quarter. Park Avenue Securities LLC increased its holdings 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. Merit Financial Group LLC purchased a new position in shares of Ingersoll Rand during the 4th quarter valued at approximately $229,000. HB Wealth Management LLC increased its holdings in shares of Ingersoll Rand by 6.8% during the 4th quarter. HB Wealth Management LLC now owns 8,008 shares of the industrial products company’s stock valued at $724,000 after purchasing an additional 513 shares in the last quarter. Finally, UMB Bank n.a. increased its holdings in shares of Ingersoll Rand by 27.0% during the 4th quarter. UMB Bank n.a. now owns 598 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 127 shares in the last quarter. 95.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ingersoll Rand

In other Ingersoll Rand news, insider Elizabeth Meloy Hepding sold 3,500 shares of the company’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $83.78, for a total value of $293,230.00. Following the transaction, the insider now owns 10,986 shares of the company’s stock, valued at $920,407.08. This represents a 24.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.59% of the stock is currently owned by corporate insiders.

Ingersoll Rand Trading Down 0.6%

Shares of IR stock opened at $83.51 on Tuesday. The company’s 50-day moving average price is $77.06 and its 200-day moving average price is $87.96. The company has a current ratio of 2.29, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The stock has a market cap of $33.69 billion, a price-to-earnings ratio of 40.54, a PEG ratio of 3.50 and a beta of 1.42. Ingersoll Rand Inc. has a twelve month low of $65.61 and a twelve month high of $106.03.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings results on Thursday, May 1st. The industrial products company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.02). The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.73 billion. Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. The company’s revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.78 EPS. As a group, equities analysts predict that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

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

Ingersoll Rand Dividend Announcement

The business also recently announced 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. 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%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on IR. Evercore ISI cut their price target on shares of Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Citigroup boosted their price target on shares of Ingersoll Rand from $88.00 to $91.00 and gave the stock a “buy” rating in a report 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 for the company in a report on Monday, April 14th. Wells Fargo & Company boosted their price target on shares of Ingersoll Rand from $80.00 to $86.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. Finally, Robert W. Baird boosted 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. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $98.91.

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.