Private Advisor Group LLC Has $750,000 Position in Ingersoll Rand Inc. (NYSE:IR)

Private Advisor Group LLC raised its position in Ingersoll Rand Inc. (NYSE:IR) by 36.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 9,701 shares of the industrial products company’s stock after purchasing an additional 2,573 shares during the period. Private Advisor Group LLC’s holdings in Ingersoll Rand were worth $750,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV grew its stake in shares of Ingersoll Rand by 17.9% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,137 shares of the industrial products company’s stock valued at $88,000 after acquiring an additional 173 shares in the last quarter. Pinnacle Associates Ltd. grew its position in shares of Ingersoll Rand by 4.7% during the 4th quarter. Pinnacle Associates Ltd. now owns 4,333 shares of the industrial products company’s stock worth $335,000 after purchasing an additional 193 shares in the last quarter. Parsons Capital Management Inc. RI raised its position in shares of Ingersoll Rand by 3.2% in the fourth quarter. Parsons Capital Management Inc. RI now owns 6,399 shares of the industrial products company’s stock valued at $495,000 after buying an additional 200 shares in the last quarter. Huntington National Bank raised its position in shares of Ingersoll Rand by 7.1% in the third quarter. Huntington National Bank now owns 3,269 shares of the industrial products company’s stock valued at $208,000 after buying an additional 218 shares in the last quarter. Finally, Fulton Bank N.A. boosted its stake in shares of Ingersoll Rand by 6.3% in the fourth quarter. Fulton Bank N.A. now owns 3,944 shares of the industrial products company’s stock valued at $305,000 after buying an additional 235 shares during the period. Institutional investors own 95.27% of the company’s stock.

Wall Street Analyst Weigh In

IR has been the subject of several analyst reports. Barclays dropped their price objective on Ingersoll Rand from $105.00 to $104.00 and set an “overweight” rating for the company in a report on Monday, May 6th. Cfra boosted their price target on Ingersoll Rand from $68.00 to $85.00 and gave the company a “hold” rating in a research note on Friday, February 16th. The Goldman Sachs Group increased their price objective 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. Robert W. Baird boosted their target price on shares of Ingersoll Rand from $107.00 to $109.00 and gave the company an “outperform” rating in a research report on Monday, May 6th. Finally, Citigroup increased their price target on shares of Ingersoll Rand from $105.00 to $112.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.82.

Ingersoll Rand Stock Performance

Shares of Ingersoll Rand stock opened at $92.65 on Friday. The company’s 50 day moving average price is $92.03 and its two-hundred day moving average price is $82.68. The firm has a market capitalization of $37.38 billion, a P/E ratio of 46.09, a P/E/G ratio of 3.04 and a beta of 1.40. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.32 and a quick ratio of 1.71. Ingersoll Rand Inc. has a fifty-two week low of $56.49 and a fifty-two week high of $96.17.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings data on Thursday, February 15th. The industrial products company reported $0.83 earnings per share for the quarter, topping 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 business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.76 billion. On average, equities analysts forecast that Ingersoll Rand Inc. will post 3.14 earnings per share 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. Investors of record on Thursday, May 16th will be issued 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 0.09%. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.98%.

Ingersoll Rand declared that its Board of Directors has authorized a stock repurchase plan on Thursday, April 25th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to reacquire up to 2.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

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

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.