Savant Capital LLC Makes New Investment in Ingersoll Rand Inc. (NYSE:IR)

Savant Capital LLC bought a new position in Ingersoll Rand Inc. (NYSE:IR) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 4,737 shares of the industrial products company’s stock, valued at approximately $366,000.

Several other hedge funds also recently made changes to their positions in IR. FMR LLC boosted its position in shares of Ingersoll Rand by 3.4% in the 3rd quarter. FMR LLC now owns 19,190,038 shares of the industrial products company’s stock worth $1,222,789,000 after purchasing an additional 627,146 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Ingersoll Rand by 1.9% in the third quarter. JPMorgan Chase & Co. now owns 11,547,716 shares of the industrial products company’s stock worth $735,821,000 after acquiring an additional 213,441 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Ingersoll Rand by 2.4% during the third quarter. Northern Trust Corp now owns 4,005,504 shares of the industrial products company’s stock valued at $255,231,000 after acquiring an additional 95,559 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Ingersoll Rand by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,059,347 shares of the industrial products company’s stock worth $131,222,000 after purchasing an additional 28,030 shares in the last quarter. Finally, Royal Bank of Canada grew its position in Ingersoll Rand by 0.4% during the 3rd quarter. Royal Bank of Canada now owns 2,020,934 shares of the industrial products company’s stock valued at $128,773,000 after purchasing an additional 7,524 shares during the last quarter. 95.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Wells Fargo & Company upped their target price on shares of Ingersoll Rand from $83.00 to $100.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 20th. Stifel Nicolaus reiterated a “buy” rating and set a $102.00 target price on shares of Ingersoll Rand in a research note on Tuesday, March 26th. Evercore ISI cut Ingersoll Rand from an “outperform” rating to an “in-line” rating and boosted their price target for the stock from $81.00 to $89.00 in a research note on Tuesday, February 20th. Cfra increased their price objective on Ingersoll Rand from $68.00 to $85.00 and gave the company a “hold” rating in a research report on Friday, February 16th. Finally, StockNews.com lowered Ingersoll Rand from a “buy” rating to a “hold” rating in a research report on Saturday. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $92.73.

Insiders Place Their Bets

In other Ingersoll Rand news, insider Andrew R. Schiesl sold 35,000 shares of the company’s stock in a transaction that occurred on 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 directly owns 16,525 shares in the company, valued at $1,478,326.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Vicente Reynal sold 240,000 shares of Ingersoll Rand stock in a transaction that occurred on 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 sale, the insider now owns 91,957 shares of the company’s stock, valued at approximately $8,290,843.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Andrew R. Schiesl sold 35,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was 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 of the company’s stock, valued at $1,478,326.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 293,011 shares of company stock worth $26,374,789. Company insiders own 0.83% of the company’s stock.

Ingersoll Rand Stock Down 6.6 %

Shares of IR stock opened at $86.72 on Monday. The company has a current ratio of 2.22, a quick ratio of 1.67 and a debt-to-equity ratio of 0.27. Ingersoll Rand Inc. has a 12 month low of $56.49 and a 12 month high of $96.17. The stock 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 company has a 50 day simple moving average of $91.96 and a two-hundred day simple moving average of $80.81.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings data on Thursday, February 15th. The industrial products company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.74 by $0.09. The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.76 billion. Ingersoll Rand had a return on equity of 12.66% and a net margin of 11.85%. On average, research analysts expect that Ingersoll Rand Inc. will post 3.1 earnings per share for the current year.

Ingersoll Rand Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 16th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.09%. The ex-dividend date of this dividend is Wednesday, May 15th. Ingersoll Rand’s dividend payout ratio is 3.98%.

Ingersoll Rand announced that its Board of Directors has initiated a share repurchase plan on Thursday, April 25th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to purchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

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.