Fisher Asset Management LLC Buys 166,999 Shares of Ingersoll Rand Inc. (NYSE:IR)

Fisher Asset Management LLC grew its holdings in Ingersoll Rand Inc. (NYSE:IR) by 2.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,370,883 shares of the industrial products company’s stock after buying an additional 166,999 shares during the period. Fisher Asset Management LLC owned approximately 1.57% of Ingersoll Rand worth $492,724,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in IR. 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 purchasing an additional 854,314 shares during the last quarter. FMR LLC increased its holdings 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 valued at $1,222,789,000 after acquiring an additional 627,146 shares during the period. Barclays PLC boosted its position in shares of Ingersoll Rand by 59.8% during the 3rd quarter. Barclays PLC now owns 876,284 shares of the industrial products company’s stock worth $55,836,000 after purchasing an additional 327,931 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of Ingersoll Rand by 7,475.8% in the 4th quarter. International Assets Investment Management LLC now owns 281,518 shares of the industrial products company’s stock worth $21,773,000 after buying an additional 277,802 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its stake in Ingersoll Rand by 45.4% in the 3rd quarter. Qube Research & Technologies Ltd now owns 796,696 shares of the industrial products company’s stock valued at $50,765,000 after purchasing an additional 248,634 shares during the last quarter. 95.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Ingersoll Rand news, CAO Michael J. Scheske sold 7,590 shares of Ingersoll Rand stock in a transaction 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 of the company’s stock, valued at $854,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Michael J. Scheske sold 7,590 shares of the company’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 directly owns 9,715 shares in the company, valued at approximately $854,920. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Andrew R. Schiesl sold 10,421 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $89.95, for a total transaction of $937,368.95. Following the sale, the insider now directly owns 48,904 shares in the company, valued at $4,398,914.80. The disclosure for this sale can be found here. Insiders sold a total of 293,011 shares of company stock valued at $26,374,789 over the last 90 days. Insiders own 0.83% of the company’s stock.

Ingersoll Rand Stock Performance

Shares of NYSE:IR traded down $6.13 during midday trading on Friday, hitting $86.72. The company had a trading volume of 6,847,149 shares, compared to its average volume of 2,555,363. The company has a market cap of $34.99 billion, a price-to-earnings ratio of 45.64, a PEG ratio of 3.24 and a beta of 1.40. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.22 and a quick ratio of 1.67. The company has a fifty day moving average of $92.03 and a two-hundred day moving average of $80.43. Ingersoll Rand Inc. has a 12-month low of $56.49 and a 12-month high of $96.17.

Ingersoll Rand (NYSE:IR) last issued its 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 business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.76 billion. Ingersoll Rand had a net margin of 11.32% and a return on equity of 12.24%. On average, equities research analysts expect that Ingersoll Rand Inc. will post 3.1 EPS for the current fiscal year.

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

Ingersoll Rand Dividend Announcement

The firm 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 dividend of $0.02 per share. The ex-dividend date is Wednesday, May 15th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Ingersoll Rand’s dividend payout ratio (DPR) is presently 4.21%.

Wall Street Analyst Weigh In

IR has been the subject of a number of recent analyst reports. Stifel Nicolaus reissued a “buy” rating and set a $102.00 price target on shares of Ingersoll Rand in a research report on Tuesday, March 26th. Barclays lifted their target price on Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Wells Fargo & Company boosted their target price on Ingersoll Rand from $83.00 to $100.00 and gave the stock an “overweight” rating in a report on Tuesday, February 20th. Cfra lifted their price target on Ingersoll Rand from $68.00 to $85.00 and gave the stock a “hold” rating in a research report on Friday, February 16th. Finally, Evercore ISI lowered Ingersoll Rand from an “outperform” rating to an “in-line” rating and upped their price target for the company from $81.00 to $89.00 in a research note on Tuesday, February 20th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average 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.