Ingersoll Rand Inc. (NYSE:IR) Shares Bought by Capital International Investors

Capital International Investors grew its holdings in shares of Ingersoll Rand Inc. (NYSE:IRFree Report) by 35.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,246,481 shares of the industrial products company’s stock after acquiring an additional 3,202,973 shares during the period. Capital International Investors owned about 3.03% of Ingersoll Rand worth $947,143,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. ANTIPODES PARTNERS Ltd acquired a new position in Ingersoll Rand in the fourth quarter worth about $27,000. Quintet Private Bank Europe S.A. acquired a new position in Ingersoll Rand in the third quarter worth about $28,000. Wetzel Investment Advisors Inc. acquired a new position in Ingersoll Rand in the fourth quarter worth about $42,000. CVA Family Office LLC acquired a new position in Ingersoll Rand in the fourth quarter worth about $71,000. Finally, Massmutual Trust Co. FSB ADV grew its stake in Ingersoll Rand by 17.9% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,137 shares of the industrial products company’s stock worth $88,000 after purchasing an additional 173 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Ingersoll Rand Price Performance

NYSE:IR traded up $1.68 during midday trading on Wednesday, hitting $89.64. 1,290,897 shares of the stock were exchanged, compared to its average volume of 2,686,892. Ingersoll Rand Inc. has a one year low of $59.20 and a one year high of $96.67. The company has a market capitalization of $36.16 billion, a price-to-earnings ratio of 43.76, a P/E/G ratio of 2.91 and a beta of 1.43. The business has a 50-day moving average price of $92.26 and a two-hundred day moving average price of $85.15. The company has a current ratio of 2.32, a quick ratio of 1.71 and a debt-to-equity ratio of 0.27.

Ingersoll Rand (NYSE:IRGet Free Report) last announced its earnings results on Thursday, May 2nd. The industrial products company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.67 by $0.09. Ingersoll Rand had a return on equity of 12.57% and a net margin of 11.85%. The firm had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Sell-side analysts predict that Ingersoll Rand Inc. will post 3.18 EPS for the current year.

Ingersoll Rand Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Thursday, May 16th will be given a $0.02 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $0.08 annualized dividend and a yield of 0.09%. Ingersoll Rand’s dividend payout ratio (DPR) is 3.98%.

Ingersoll Rand announced that its Board of Directors has initiated a share buyback program on Thursday, April 25th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the industrial products company to repurchase up to 2.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Robert W. Baird raised their target price on shares of Ingersoll Rand from $107.00 to $109.00 and gave the stock an “outperform” rating in a report on Monday, May 6th. Citigroup raised their target price on shares of Ingersoll Rand from $105.00 to $112.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Stifel Nicolaus reissued a “buy” rating and issued a $102.00 target price on shares of Ingersoll Rand in a report on Tuesday, March 26th. Barclays cut their target price on shares of Ingersoll Rand from $105.00 to $104.00 and set an “overweight” rating on the stock in a report on Monday, May 6th. Finally, Cfra lifted their price target on Ingersoll Rand from $68.00 to $85.00 and gave the company a “hold” rating in a report on Friday, February 16th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $95.82.

View Our Latest Research Report on Ingersoll Rand

Insiders Place Their Bets

In other Ingersoll Rand news, insider Andrew R. Schiesl sold 22,369 shares of Ingersoll Rand stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $92.17, for a total value of $2,061,750.73. Following the transaction, the insider now owns 30,846 shares in the company, valued at $2,843,075.82. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Andrew R. Schiesl sold 22,369 shares of the business’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $92.17, for a total transaction of $2,061,750.73. Following the transaction, the insider now directly owns 30,846 shares in the company, valued at approximately $2,843,075.82. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Andrew R. Schiesl sold 35,000 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $89.46, for a total value of $3,131,100.00. Following the completion of the transaction, the insider now owns 16,525 shares in the company, valued at approximately $1,478,326.50. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by company insiders.

About Ingersoll Rand

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Ingersoll Rand (NYSE:IR)

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