Ingersoll Rand Inc. (NYSE:IR) Position Increased by Cerity Partners LLC

Cerity Partners LLC increased its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 78.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 261,407 shares of the industrial products company’s stock after acquiring an additional 115,040 shares during the period. Cerity Partners LLC owned about 0.06% of Ingersoll Rand worth $20,218,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of IR. Norges Bank acquired a new position in Ingersoll Rand during the fourth quarter worth $187,291,000. Morgan Stanley increased its position in Ingersoll Rand by 65.4% during the fourth quarter. Morgan Stanley now owns 4,701,832 shares of the industrial products company’s stock worth $245,671,000 after buying an additional 1,858,698 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its position in Ingersoll Rand by 101.0% during the third quarter. Adage Capital Partners GP L.L.C. now owns 1,700,061 shares of the industrial products company’s stock worth $108,328,000 after buying an additional 854,314 shares during the last quarter. Vanguard Group Inc. increased its position in Ingersoll Rand by 1.9% during the first quarter. Vanguard Group Inc. now owns 44,054,298 shares of the industrial products company’s stock worth $2,218,134,000 after buying an additional 823,749 shares during the last quarter. Finally, Prudential Financial Inc. increased its position in Ingersoll Rand by 97.7% during the first quarter. Prudential Financial Inc. now owns 1,270,695 shares of the industrial products company’s stock worth $63,980,000 after buying an additional 628,086 shares during the last quarter. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Ingersoll Rand Stock Down 1.3 %

IR stock opened at $91.92 on Friday. The company has a market cap of $37.08 billion, a PE ratio of 48.38, a price-to-earnings-growth ratio of 3.20 and a beta of 1.44. The company has a quick ratio of 1.67, a current ratio of 2.22 and a debt-to-equity ratio of 0.27. Ingersoll Rand Inc. has a twelve month low of $53.24 and a twelve month high of $96.17. The business’s 50-day simple moving average is $90.70 and its 200 day simple moving average is $77.87.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings results on Thursday, February 15th. The industrial products company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Ingersoll Rand had a net margin of 11.32% and a return on equity of 12.24%. On average, research analysts anticipate that Ingersoll Rand Inc. will post 3.1 earnings per share for the current year.

Ingersoll Rand Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 7th were paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date of this dividend was Wednesday, March 6th. Ingersoll Rand’s dividend payout ratio is 4.21%.

Insiders Place Their Bets

In other news, CAO Michael J. Scheske sold 7,590 shares of Ingersoll Rand stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $88.00, for a total value of $667,920.00. Following the completion of the transaction, the chief accounting officer now owns 9,715 shares in the company, valued at $854,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Michael J. Scheske sold 7,590 shares of Ingersoll Rand stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $88.00, for a total value of $667,920.00. Following the completion of the transaction, the chief accounting officer now owns 9,715 shares in the company, valued at $854,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Vicente Reynal sold 240,000 shares of Ingersoll Rand stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $90.16, for a total transaction of $21,638,400.00. Following the completion of the transaction, the insider now owns 91,957 shares of the company’s stock, valued at approximately $8,290,843.12. The disclosure for this sale can be found here. Insiders sold a total of 293,011 shares of company stock worth $26,374,789 over the last quarter. Company insiders own 0.83% of the company’s stock.

Wall Street Analyst Weigh In

IR has been the topic of several analyst reports. UBS Group increased their target price on shares of Ingersoll Rand from $78.00 to $93.00 and gave the stock a “buy” rating in a research report on Monday, January 29th. Barclays raised their price target on Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. The Goldman Sachs Group raised their price target on Ingersoll Rand from $87.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Citigroup raised their price target on Ingersoll Rand from $105.00 to $112.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Finally, Wells Fargo & Company raised their price target on Ingersoll Rand from $83.00 to $100.00 and gave the company an “overweight” rating in a research report on Tuesday, February 20th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Ingersoll Rand presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.73.

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.