Victory Capital Management Inc. Increases Stake in Ingersoll Rand Inc. (NYSE:IR)

Victory Capital Management Inc. raised its stake in Ingersoll Rand Inc. (NYSE:IR – Get Rating) by 0.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 179,338 shares of the industrial products company’s stock after acquiring an additional 675 shares during the period. Victory Capital Management Inc.’s holdings in Ingersoll Rand were worth $10,043,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Oppenheimer Asset Management Inc. boosted its stake in Ingersoll Rand by 0.8% during the third quarter. Oppenheimer Asset Management Inc. now owns 23,061 shares of the industrial products company’s stock valued at $998,000 after buying an additional 183 shares during the last quarter. Keybank National Association OH raised its position in shares of Ingersoll Rand by 2.6% during the 4th quarter. Keybank National Association OH now owns 7,805 shares of the industrial products company’s stock valued at $408,000 after buying an additional 195 shares in the last quarter. Sentry Investment Management LLC grew its position in Ingersoll Rand by 8.0% in the fourth quarter. Sentry Investment Management LLC now owns 2,671 shares of the industrial products company’s stock worth $140,000 after acquiring an additional 197 shares in the last quarter. South Dakota Investment Council increased its stake in Ingersoll Rand by 2.9% during the third quarter. South Dakota Investment Council now owns 7,000 shares of the industrial products company’s stock worth $303,000 after acquiring an additional 200 shares during the last quarter. Finally, IFP Advisors Inc raised its position in Ingersoll Rand by 11.3% during the third quarter. IFP Advisors Inc now owns 1,976 shares of the industrial products company’s stock valued at $68,000 after purchasing an additional 200 shares during the period. Hedge funds and other institutional investors own 99.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on IR. Wells Fargo & Company cut their target price on Ingersoll Rand from $62.00 to $61.00 and set an “overweight” rating on the stock in a research report on Thursday, April 13th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Ingersoll Rand from $55.00 to $56.00 and gave the company a “hold” rating in a research note on Wednesday, April 12th. Stifel Nicolaus lifted their price target on shares of Ingersoll Rand from $60.00 to $61.00 and gave the stock a “hold” rating in a research note on Monday, April 17th. Morgan Stanley increased their price objective on shares of Ingersoll Rand from $57.00 to $62.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 22nd. Finally, Robert W. Baird boosted their target price on Ingersoll Rand from $62.00 to $66.00 in a research report on Friday, May 5th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $60.36.

Insider Activity at Ingersoll Rand

In other Ingersoll Rand news, insider Vicente Reynal sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $60.00, for a total transaction of $1,500,000.00. Following the completion of the transaction, the insider now directly owns 102,856 shares of the company’s stock, valued at approximately $6,171,360. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.75% of the stock is owned by insiders.

Ingersoll Rand Stock Down 1.9 %

Shares of Ingersoll Rand stock opened at $56.91 on Thursday. The company has a market cap of $23.02 billion, a P/E ratio of 35.13 and a beta of 1.42. Ingersoll Rand Inc. has a 52-week low of $39.28 and a 52-week high of $61.06. The company has a quick ratio of 1.50, a current ratio of 2.16 and a debt-to-equity ratio of 0.29. The firm’s 50 day moving average price is $56.55 and its 200-day moving average price is $55.65.

Ingersoll Rand (NYSE:IR – Get Rating) last released its quarterly earnings results on Tuesday, February 21st. The industrial products company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.13. The company had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Ingersoll Rand had a return on equity of 10.69% and a net margin of 10.66%. The firm’s revenue was up 14.4% compared to the same quarter last year. During the same period last year, the business posted $0.64 earnings per share. On average, sell-side analysts predict that Ingersoll Rand Inc. will post 2.52 EPS for the current fiscal year.

Ingersoll Rand Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 22nd. Shareholders of record on Wednesday, May 24th will be issued a $0.02 dividend. The ex-dividend date is Tuesday, May 23rd. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.14%. Ingersoll Rand’s dividend payout ratio is currently 4.94%.

Ingersoll Rand Company Profile

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Ingersoll Rand, Inc provides a broad range of mission critical air, fluid, energy, specialty vehicle and medical technologies, providing services and solutions to increase industrial productivity and efficiency. It operates through the following segments: Industrial Technologies and Services, Precision and Science Technologies, High Pressure Solutions, and Specialty Vehicle Technologies.