Cwm LLC Boosts Stake in Ingersoll Rand Inc. (NYSE:IR)

Cwm LLC lifted its stake in Ingersoll Rand Inc. (NYSE:IR) by 4.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,675 shares of the industrial products company’s stock after buying an additional 487 shares during the period. Cwm LLC’s holdings in Ingersoll Rand were worth $826,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. FMR LLC boosted its position in shares of Ingersoll Rand by 3.4% in 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 during the period. JPMorgan Chase & Co. boosted its holdings in Ingersoll Rand by 1.9% in 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 during the last quarter. Northern Trust Corp boosted its holdings in Ingersoll Rand by 2.4% in 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 during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Ingersoll Rand by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,059,347 shares of the industrial products company’s stock valued at $131,222,000 after buying an additional 28,030 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in Ingersoll Rand by 0.4% during the third quarter. Royal Bank of Canada now owns 2,020,934 shares of the industrial products company’s stock valued at $128,773,000 after buying an additional 7,524 shares in the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Insider Activity

In other news, insider Andrew R. Schiesl sold 10,421 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $89.95, for a total value of $937,368.95. Following the sale, the insider now directly owns 48,904 shares of the company’s stock, valued at $4,398,914.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Andrew R. Schiesl sold 10,421 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $89.95, for a total value of $937,368.95. Following the sale, the insider now directly owns 48,904 shares of the company’s stock, valued at $4,398,914.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Andrew R. Schiesl sold 35,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $89.46, for a total value of $3,131,100.00. Following the completion of the sale, the insider now directly owns 16,525 shares in the company, valued at $1,478,326.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 293,011 shares of company stock valued at $26,374,789. 0.83% of the stock is owned by insiders.

Analyst Ratings Changes

IR has been the topic of several research reports. Citigroup upped their price objective on Ingersoll Rand from $105.00 to $112.00 and gave the company a “buy” rating in a research note on Monday, April 8th. BNP Paribas initiated coverage on Ingersoll Rand in a research note on Tuesday, March 12th. They set a “neutral” rating and a $92.00 price target for the company. Evercore ISI lowered Ingersoll Rand from an “outperform” rating to an “in-line” rating and increased their price target for the company from $81.00 to $89.00 in a research note on Tuesday, February 20th. StockNews.com lowered Ingersoll Rand from a “buy” rating to a “hold” rating in a research note on Thursday, April 25th. Finally, Barclays increased their target price on Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Ingersoll Rand currently has an average rating of “Moderate Buy” and an average target price of $92.73.

Ingersoll Rand Price Performance

Shares of NYSE:IR opened at $93.37 on Tuesday. Ingersoll Rand Inc. has a 1 year low of $55.86 and a 1 year high of $96.17. The business has a fifty day simple moving average of $91.78 and a 200 day simple moving average of $80.05. The company has a current ratio of 2.22, a quick ratio of 1.67 and a debt-to-equity ratio of 0.27. The firm has a market cap of $37.67 billion, a price-to-earnings ratio of 49.14, a P/E/G ratio of 3.26 and a beta of 1.44.

Ingersoll Rand (NYSE:IR) last posted its earnings results on Thursday, February 15th. The industrial products company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.09. Ingersoll Rand had a return on equity of 12.24% and a net margin of 11.32%. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.76 billion. As a group, sell-side analysts predict that Ingersoll Rand Inc. will post 3.1 earnings per share for the current fiscal year.

Ingersoll Rand announced that its board has authorized a share repurchase program on Thursday, April 25th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the industrial products company to repurchase up to 2.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Ingersoll Rand Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Thursday, May 16th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $0.08 annualized dividend and a yield of 0.09%. Ingersoll Rand’s dividend payout ratio (DPR) is currently 4.21%.

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.