Ethic Inc. Has $7.33 Million Stock Position in Ingersoll Rand Inc. (NYSE:IR)

Ethic Inc. boosted its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 13.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 81,016 shares of the industrial products company’s stock after acquiring an additional 9,800 shares during the quarter. Ethic Inc.’s holdings in Ingersoll Rand were worth $7,329,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of IR. Savant Capital LLC boosted its holdings in shares of Ingersoll Rand by 2.3% during the fourth quarter. Savant Capital LLC now owns 6,938 shares of the industrial products company’s stock worth $628,000 after purchasing an additional 158 shares during the period. abrdn plc boosted its stake in shares of Ingersoll Rand by 70.5% during the 4th quarter. abrdn plc now owns 262,863 shares of the industrial products company’s stock valued at $23,851,000 after buying an additional 108,700 shares during the period. AdvisorNet Financial Inc grew its holdings in shares of Ingersoll Rand by 441.4% during the 4th quarter. AdvisorNet Financial Inc now owns 18,652 shares of the industrial products company’s stock valued at $1,687,000 after acquiring an additional 15,207 shares in the last quarter. tru Independence LLC acquired a new position in shares of Ingersoll Rand in the fourth quarter worth $291,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Ingersoll Rand by 8.0% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 70,506 shares of the industrial products company’s stock worth $6,378,000 after acquiring an additional 5,197 shares during the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Price Performance

NYSE IR opened at $79.29 on Friday. The company has a market cap of $31.96 billion, a P/E ratio of 38.49, a P/E/G ratio of 3.50 and a beta of 1.42. Ingersoll Rand Inc. has a 1 year low of $65.61 and a 1 year high of $106.03. 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 company has a fifty day simple moving average of $77.05 and a 200 day simple moving average of $88.59.

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

Ingersoll Rand Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 15th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.10%. The ex-dividend date is Thursday, May 15th. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.96%.

Ingersoll Rand declared that its Board of Directors has approved a share repurchase program on Thursday, May 1st that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the industrial products company to buy up to 3.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research analysts have commented on IR shares. Stifel Nicolaus lowered their target price on Ingersoll Rand from $94.00 to $77.00 and set a “hold” rating on the stock in a research note on Monday, April 14th. Evercore ISI lowered their price target on Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. Wells Fargo & Company raised their price objective on shares of Ingersoll Rand from $80.00 to $86.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. Citigroup lifted their target price on shares of Ingersoll Rand from $88.00 to $91.00 and gave the company a “buy” rating in a research note on Monday, May 5th. Finally, Robert W. Baird increased their price target on shares of Ingersoll Rand from $105.00 to $111.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Ingersoll Rand has an average rating of “Moderate Buy” and a consensus price target of $98.91.

Ingersoll Rand Company 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.