First Horizon Advisors Inc. Increases Holdings in Ingersoll Rand Inc. (NYSE:IR)

First Horizon Advisors Inc. increased its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 280.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,532 shares of the industrial products company’s stock after purchasing an additional 1,867 shares during the period. First Horizon Advisors Inc.’s holdings in Ingersoll Rand were worth $196,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Fisher Asset Management LLC increased its position in shares of Ingersoll Rand by 2.7% during the fourth quarter. Fisher Asset Management LLC now owns 6,370,883 shares of the industrial products company’s stock valued at $492,724,000 after buying an additional 166,999 shares during the period. First Trust Direct Indexing L.P. grew its stake in Ingersoll Rand by 22.2% during the fourth quarter. First Trust Direct Indexing L.P. now owns 5,243 shares of the industrial products company’s stock valued at $406,000 after acquiring an additional 951 shares in the last quarter. New York Life Investment Management LLC increased its holdings in Ingersoll Rand by 3.5% during the 4th quarter. New York Life Investment Management LLC now owns 64,944 shares of the industrial products company’s stock worth $5,023,000 after acquiring an additional 2,174 shares during the period. Savant Capital LLC bought a new position in Ingersoll Rand in the 4th quarter valued at $366,000. Finally, Ledyard National Bank purchased a new position in shares of Ingersoll Rand during the 4th quarter valued at $212,000. Institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Price Performance

IR stock opened at $86.72 on Monday. The firm has a market cap of $34.99 billion, a P/E ratio of 43.14, a P/E/G ratio of 3.02 and a beta of 1.40. The firm’s fifty day moving average is $91.96 and its 200 day moving average is $80.81. Ingersoll Rand Inc. has a 52 week low of $56.49 and a 52 week high of $96.17. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.71 and a current ratio of 2.32.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings data on Thursday, February 15th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Ingersoll Rand had a return on equity of 12.57% and a net margin of 11.85%. Research analysts predict that Ingersoll Rand Inc. will post 3.1 earnings per share for the current year.

Ingersoll Rand Announces Dividend

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

Ingersoll Rand declared that its Board of Directors has approved a share repurchase plan on Thursday, April 25th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the industrial products company to buy up to 2.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages recently issued reports on IR. BNP Paribas started coverage on Ingersoll Rand in a research report on Tuesday, March 12th. They issued a “neutral” rating and a $92.00 price objective on the stock. Stifel Nicolaus restated a “buy” rating and issued a $102.00 price objective on shares of Ingersoll Rand in a research report on Tuesday, March 26th. Wells Fargo & Company lifted their target price on shares of Ingersoll Rand from $83.00 to $100.00 and gave the company an “overweight” rating in a research report on Tuesday, February 20th. Evercore ISI lowered shares of Ingersoll Rand from an “outperform” rating to an “in-line” rating and increased their price target for the stock from $81.00 to $89.00 in a report on Tuesday, February 20th. Finally, Cfra lifted their price objective on shares of Ingersoll Rand from $68.00 to $85.00 and gave the stock a “hold” rating in a report on Friday, February 16th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Ingersoll Rand presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.73.

Insider Buying and Selling at Ingersoll Rand

In other news, CAO Michael J. Scheske sold 7,590 shares of the firm’s 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 transaction, the chief accounting officer now owns 9,715 shares in the company, valued at $854,920. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Vicente Reynal sold 240,000 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $90.16, for a total transaction of $21,638,400.00. Following the transaction, the insider now owns 91,957 shares in the company, valued at approximately $8,290,843.12. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Michael J. Scheske sold 7,590 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $88.00, for a total value of $667,920.00. Following the completion of the sale, the chief accounting officer now owns 9,715 shares of the company’s stock, valued at approximately $854,920. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 293,011 shares of company stock worth $26,374,789. 0.83% of the stock is currently owned by insiders.

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.