Ingersoll Rand Inc. (NYSE:IR) Position Boosted by Fisher Asset Management LLC

Fisher Asset Management LLC lifted its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 2.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,361,549 shares of the industrial products company’s stock after purchasing an additional 157,665 shares during the period. Fisher Asset Management LLC owned about 1.58% of Ingersoll Rand worth $492,002,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Massmutual Trust Co. FSB ADV raised its stake in Ingersoll Rand by 17.9% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,137 shares of the industrial products company’s stock worth $88,000 after acquiring an additional 173 shares during the period. Pinnacle Associates Ltd. raised its stake in Ingersoll Rand by 4.7% during the fourth quarter. Pinnacle Associates Ltd. now owns 4,333 shares of the industrial products company’s stock worth $335,000 after acquiring an additional 193 shares during the period. Parsons Capital Management Inc. RI raised its stake in Ingersoll Rand by 3.2% during the fourth quarter. Parsons Capital Management Inc. RI now owns 6,399 shares of the industrial products company’s stock worth $495,000 after acquiring an additional 200 shares during the period. Parallel Advisors LLC raised its stake in Ingersoll Rand by 8.6% during the fourth quarter. Parallel Advisors LLC now owns 2,552 shares of the industrial products company’s stock worth $197,000 after acquiring an additional 203 shares during the period. Finally, Fulton Bank N.A. raised its stake in Ingersoll Rand by 6.3% during the fourth quarter. Fulton Bank N.A. now owns 3,944 shares of the industrial products company’s stock worth $305,000 after acquiring an additional 235 shares during the period. Institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Price Performance

NYSE:IR traded down $2.99 during trading hours on Friday, reaching $91.46. 2,804,078 shares of the company’s stock were exchanged, compared to its average volume of 3,118,830. The company has a market capitalization of $36.90 billion, a P/E ratio of 45.50, a price-to-earnings-growth ratio of 2.96 and a beta of 1.43. Ingersoll Rand Inc. has a 12 month low of $59.20 and a 12 month high of $96.67. The company has a quick ratio of 1.71, a current ratio of 2.32 and a debt-to-equity ratio of 0.27. The business’s 50-day simple moving average is $91.83 and its two-hundred day simple moving average is $86.32.

Ingersoll Rand (NYSE:IR) last issued its earnings results on Thursday, May 2nd. The industrial products company reported $0.76 earnings per share for the quarter, topping 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%. Sell-side analysts expect that Ingersoll Rand Inc. will post 3.18 EPS for the current fiscal year.

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

Ingersoll Rand Announces Dividend

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

Insider Buying and Selling

In related news, insider Vicente Reynal sold 198,486 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $88.11, for a total value of $17,488,601.46. Following the completion of the transaction, the insider now owns 100,367 shares of the company’s stock, valued at approximately $8,843,336.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Ingersoll Rand news, insider Vicente Reynal sold 198,486 shares of the stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $88.11, for a total value of $17,488,601.46. Following the completion of the sale, the insider now owns 100,367 shares in the company, valued at approximately $8,843,336.37. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Andrew R. Schiesl sold 22,369 shares of the stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $92.17, for a total transaction of $2,061,750.73. Following the completion of the sale, the insider now owns 30,846 shares of the company’s stock, valued at approximately $2,843,075.82. The disclosure for this sale can be found here. Company insiders own 0.68% of the company’s stock.

Analyst Ratings Changes

IR has been the topic of several analyst reports. The Goldman Sachs Group raised their price target on shares of Ingersoll Rand from $87.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Wells Fargo & Company dropped 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. BNP Paribas initiated coverage on shares of Ingersoll Rand in a research note on Tuesday, March 12th. They issued a “neutral” rating and a $92.00 price target on the stock. Stifel Nicolaus restated a “buy” rating and issued a $102.00 price target on shares of Ingersoll Rand in a research note on Tuesday, March 26th. Finally, Robert W. Baird raised their price objective on shares of Ingersoll Rand from $107.00 to $109.00 and gave the company an “outperform” rating in a research note on Monday, May 6th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $95.82.

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.