Ingersoll Rand Inc. (NYSE:IR) Shares Purchased by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. raised its holdings in Ingersoll Rand Inc. (NYSE:IR) by 22.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,243 shares of the industrial products company’s stock after acquiring an additional 951 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Ingersoll Rand were worth $406,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. ANTIPODES PARTNERS Ltd acquired a new stake in shares of Ingersoll Rand during the fourth quarter worth approximately $27,000. OFI Invest Asset Management acquired a new position in Ingersoll Rand during the third quarter valued at approximately $25,000. Quintet Private Bank Europe S.A. bought a new position in Ingersoll Rand in the 3rd quarter worth $28,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Ingersoll Rand during the 3rd quarter worth about $32,000. Finally, Clearstead Advisors LLC lifted its holdings in shares of Ingersoll Rand by 348.2% during the third quarter. Clearstead Advisors LLC now owns 493 shares of the industrial products company’s stock worth $31,000 after buying an additional 383 shares during the last quarter. Institutional investors own 95.27% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on IR. BNP Paribas assumed coverage on shares of Ingersoll Rand in a research note on Tuesday, March 12th. They issued a “neutral” rating and a $92.00 target price for the company. Stifel Nicolaus reaffirmed a “buy” rating and set a $102.00 price objective on shares of Ingersoll Rand in a report on Tuesday, March 26th. Evercore ISI cut Ingersoll Rand from an “outperform” rating to an “in-line” rating and lifted their price target for the company from $81.00 to $89.00 in a report on Tuesday, February 20th. Barclays reduced their price objective on Ingersoll Rand from $105.00 to $104.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Cfra raised their target price on shares of Ingersoll Rand from $68.00 to $85.00 and gave the company a “hold” rating in a research note on Friday, February 16th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $95.82.

Ingersoll Rand Stock Performance

Shares of IR opened at $88.45 on Tuesday. Ingersoll Rand Inc. has a twelve month low of $56.49 and a twelve month high of $96.17. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.71 and a current ratio of 2.32. The firm’s 50 day moving average price is $91.91 and its two-hundred day moving average price is $81.01. The firm has a market cap of $35.69 billion, a P/E ratio of 44.01, a PEG ratio of 3.02 and a beta of 1.40.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings results on Thursday, February 15th. The industrial products company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. Ingersoll Rand had a return on equity of 12.57% and a net margin of 11.85%. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.76 billion. On average, analysts forecast that Ingersoll Rand Inc. will post 3.1 EPS for the current fiscal year.

Ingersoll Rand Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders 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 annualized dividend and a yield of 0.09%. Ingersoll Rand’s dividend payout ratio is 3.98%.

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

Insider Activity at Ingersoll Rand

In other Ingersoll Rand news, insider Vicente Reynal sold 240,000 shares of the firm’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 directly owns 91,957 shares in the company, valued at $8,290,843.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Andrew R. Schiesl sold 10,421 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $4,398,914.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Vicente Reynal sold 240,000 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $90.16, for a total transaction of $21,638,400.00. Following the sale, the insider now owns 91,957 shares in the company, valued at $8,290,843.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 293,011 shares of company stock worth $26,374,789. Company insiders own 0.83% of the company’s stock.

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.