Avantax Planning Partners Inc. Invests $204,000 in Ingersoll Rand Inc. (NYSE:IR)

Avantax Planning Partners Inc. acquired a new position in Ingersoll Rand Inc. (NYSE:IR) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,636 shares of the industrial products company’s stock, valued at approximately $204,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. FMR LLC boosted its holdings in Ingersoll Rand by 3.4% during the third quarter. FMR LLC now owns 19,190,038 shares of the industrial products company’s stock worth $1,222,789,000 after buying an additional 627,146 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Ingersoll Rand by 1.9% during the third quarter. JPMorgan Chase & Co. now owns 11,547,716 shares of the industrial products company’s stock valued at $735,821,000 after purchasing an additional 213,441 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in 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 purchasing an additional 166,999 shares in the last quarter. Northern Trust Corp lifted its holdings in 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 purchasing an additional 95,559 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Ingersoll Rand in the fourth quarter worth about $301,890,000. Institutional investors and hedge funds own 95.27% of the company’s stock.

Ingersoll Rand Trading Up 0.4 %

Shares of IR traded up $0.40 during trading on Friday, reaching $95.50. 3,632,984 shares of the company traded hands, compared to its average volume of 3,376,920. Ingersoll Rand Inc. has a twelve month low of $56.49 and a twelve month high of $96.67. The stock has a market cap of $38.53 billion, a PE ratio of 47.51, a price-to-earnings-growth ratio of 3.13 and a beta of 1.40. The stock has a 50-day simple moving average of $92.50 and a 200-day simple moving average of $83.90. The company has a quick ratio of 1.71, a current ratio of 2.32 and a debt-to-equity ratio of 0.27.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.09. The firm had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Ingersoll Rand had a net margin of 11.85% and a return on equity of 12.57%. On average, analysts anticipate that Ingersoll Rand Inc. will post 3.14 earnings per share for the current year.

Ingersoll Rand Dividend Announcement

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

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on IR. Barclays decreased their price target on shares of Ingersoll Rand from $105.00 to $104.00 and set an “overweight” rating on the stock in a research note on Monday, May 6th. The Goldman Sachs Group raised their price target on shares of Ingersoll Rand from $87.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Wells Fargo & Company decreased their price target on shares of Ingersoll Rand from $105.00 to $98.00 and set an “overweight” rating on the stock in a research note on Monday, May 6th. Robert W. Baird raised their price target on shares of Ingersoll Rand from $107.00 to $109.00 and gave the stock an “outperform” rating in a research note on Monday, May 6th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $102.00 price target on shares of Ingersoll Rand in a research note on Tuesday, March 26th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $95.82.

Insider Buying and Selling

In other news, insider Vicente Reynal sold 240,000 shares of the business’s 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 sale, the insider now owns 91,957 shares in the company, valued at approximately $8,290,843.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Ingersoll Rand news, insider Andrew R. Schiesl sold 22,369 shares of the business’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $92.17, for a total value of $2,061,750.73. Following the transaction, the insider now directly owns 30,846 shares of the company’s stock, valued at approximately $2,843,075.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Vicente Reynal sold 240,000 shares of the business’s stock in a transaction 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 directly owns 91,957 shares in the company, valued at $8,290,843.12. The disclosure for this sale can be found here. Insiders sold 297,369 shares of company stock worth $26,831,251 over the last 90 days. 0.68% of the stock is owned by insiders.

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.