363,475 Shares in Ingersoll Rand Inc. (NYSE:IR) Acquired by Kodai Capital Management LP

Kodai Capital Management LP bought a new position in Ingersoll Rand Inc. (NYSE:IR) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 363,475 shares of the industrial products company’s stock, valued at approximately $28,111,000. Kodai Capital Management LP owned about 0.09% of Ingersoll Rand at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of IR. ANTIPODES PARTNERS Ltd acquired a new stake in Ingersoll Rand in the 4th quarter valued at $27,000. Quintet Private Bank Europe S.A. purchased a new position in shares of Ingersoll Rand in the 3rd quarter worth approximately $28,000. Clearstead Advisors LLC grew its stake in Ingersoll Rand by 348.2% in the 3rd quarter. Clearstead Advisors LLC now owns 493 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 383 shares during the period. Wetzel Investment Advisors Inc. purchased a new stake in Ingersoll Rand during the fourth quarter worth about $42,000. Finally, CVA Family Office LLC purchased a new position in Ingersoll Rand in the fourth quarter valued at approximately $71,000. 95.27% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Ingersoll Rand news, insider Andrew R. Schiesl sold 22,369 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $92.17, for a total transaction of $2,061,750.73. Following the transaction, the insider now directly owns 30,846 shares in the company, valued at approximately $2,843,075.82. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, 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 transaction of $3,131,100.00. Following the completion of 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 SEC, which is accessible through this link. Also, insider Andrew R. Schiesl sold 22,369 shares of the firm’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $92.17, for a total value of $2,061,750.73. Following the completion of the transaction, the insider now owns 30,846 shares in the company, valued at approximately $2,843,075.82. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on IR. Stifel Nicolaus reissued a “buy” rating and issued a $102.00 price target on shares of Ingersoll Rand in a report on Tuesday, March 26th. Evercore ISI cut shares of Ingersoll Rand from an “outperform” rating to an “in-line” rating and lifted their target price for the stock from $81.00 to $89.00 in a report on Tuesday, February 20th. Barclays dropped their price objective on Ingersoll Rand from $105.00 to $104.00 and set an “overweight” rating on the stock in a research report on Monday, May 6th. Robert W. Baird increased their price target on Ingersoll Rand from $107.00 to $109.00 and gave the company an “outperform” rating in a report on Monday, May 6th. Finally, Wells Fargo & Company cut their price objective on shares of Ingersoll Rand from $105.00 to $98.00 and set an “overweight” rating for the company in a research report on Monday, May 6th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $95.82.

Ingersoll Rand Stock Performance

Shares of NYSE IR traded down $2.08 during midday trading on Tuesday, reaching $87.96. 4,096,324 shares of the company traded hands, compared to its average volume of 2,700,443. Ingersoll Rand Inc. has a 52 week low of $59.20 and a 52 week high of $96.67. The company has a market cap of $35.49 billion, a price-to-earnings ratio of 44.80, a PEG ratio of 3.01 and a beta of 1.43. The stock has a 50-day moving average price of $92.39 and a 200 day moving average price of $85.02. 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 (NYSE:IR) last issued its earnings results on Thursday, May 2nd. The industrial products company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.09. Ingersoll Rand had a net margin of 11.85% and a return on equity of 12.57%. The company had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.70 billion. Sell-side analysts anticipate that Ingersoll Rand Inc. will post 3.18 earnings per share for the current fiscal year.

Ingersoll Rand declared that its Board of Directors has initiated a stock buyback program 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 purchase 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders 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 dividend yield of 0.09%. Ingersoll Rand’s dividend payout ratio is presently 3.98%.

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.