Capital Research Global Investors Grows Holdings in Ingersoll Rand Inc. (NYSE:IR)

Capital Research Global Investors increased its position in Ingersoll Rand Inc. (NYSE:IR) by 46.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,811,827 shares of the industrial products company’s stock after acquiring an additional 3,119,793 shares during the quarter. Capital Research Global Investors owned about 2.42% of Ingersoll Rand worth $758,847,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital International Sarl increased its holdings in Ingersoll Rand by 42.9% in the 4th quarter. Capital International Sarl now owns 96,435 shares of the industrial products company’s stock worth $7,458,000 after acquiring an additional 28,964 shares in the last quarter. Capital International Ltd. CA raised its position in shares of Ingersoll Rand by 31.3% during the fourth quarter. Capital International Ltd. CA now owns 62,801 shares of the industrial products company’s stock valued at $4,857,000 after buying an additional 14,954 shares during the last quarter. Capital International Investors raised its position in shares of Ingersoll Rand by 35.4% during the fourth quarter. Capital International Investors now owns 12,246,481 shares of the industrial products company’s stock valued at $947,143,000 after buying an additional 3,202,973 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Ingersoll Rand by 17.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,779,883 shares of the industrial products company’s stock valued at $137,656,000 after buying an additional 265,041 shares during the last quarter. Finally, CIBC Private Wealth Group LLC raised its position in shares of Ingersoll Rand by 1.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 484,303 shares of the industrial products company’s stock valued at $37,456,000 after buying an additional 6,132 shares during the last quarter. 95.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on IR shares. The Goldman Sachs Group lifted their price objective on shares of Ingersoll Rand from $87.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. BNP Paribas started coverage on shares of Ingersoll Rand in a research report on Tuesday, March 12th. They set a “neutral” rating and a $92.00 price objective on the stock. Barclays reduced their price objective on shares of Ingersoll Rand from $105.00 to $104.00 and set an “overweight” rating on the stock in a research report on Monday, May 6th. Citigroup boosted 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. Finally, Cfra boosted their price target on shares of Ingersoll Rand from $68.00 to $85.00 and gave the stock a “hold” rating in a research report on Friday, February 16th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $95.82.

Ingersoll Rand Trading Up 2.0 %

NYSE IR traded up $1.77 on Wednesday, hitting $89.73. 2,219,253 shares of the stock were exchanged, compared to its average volume of 2,691,632. 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 stock has a fifty day moving average price of $92.26 and a two-hundred day moving average price of $85.15. The firm has a market capitalization of $36.20 billion, a P/E ratio of 43.76, a P/E/G ratio of 2.91 and a beta of 1.43. Ingersoll Rand Inc. has a 52-week low of $59.20 and a 52-week high of $96.67.

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. The firm had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.70 billion. Ingersoll Rand had a net margin of 11.85% and a return on equity of 12.57%. Research analysts forecast that Ingersoll Rand Inc. will post 3.18 EPS for the current fiscal year.

Ingersoll Rand Announces Dividend

The business 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 dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date of this dividend is Wednesday, May 15th. Ingersoll Rand’s dividend payout ratio is currently 3.98%.

Ingersoll Rand declared that its Board of Directors has approved a share buyback program on Thursday, April 25th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the industrial products company to purchase up to 2.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Activity

In related news, insider Andrew R. Schiesl sold 35,000 shares of Ingersoll Rand 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 completion of the sale, the insider now directly owns 16,525 shares in the company, valued at $1,478,326.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Andrew R. Schiesl sold 35,000 shares of Ingersoll Rand 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 completion of the sale, the insider now directly owns 16,525 shares in the company, valued at $1,478,326.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Andrew R. Schiesl sold 22,369 shares of Ingersoll Rand stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $92.17, for a total value of $2,061,750.73. Following the completion of the sale, the insider now owns 30,846 shares of the company’s stock, valued at $2,843,075.82. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.

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.