Investment Management Corp of Ontario Has $1.01 Million Stock Position in Ingersoll Rand Inc. (NYSE:IR)

Investment Management Corp of Ontario decreased its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 16.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,198 shares of the industrial products company’s stock after selling 2,200 shares during the quarter. Investment Management Corp of Ontario’s holdings in Ingersoll Rand were worth $1,013,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Murphy & Mullick Capital Management Corp acquired a new position in shares of Ingersoll Rand during the 4th quarter worth approximately $36,000. OFI Invest Asset Management acquired a new position in shares of Ingersoll Rand during the 4th quarter worth approximately $38,000. Lee Danner & Bass Inc. acquired a new position in shares of Ingersoll Rand during the 4th quarter worth approximately $42,000. Ancora Advisors LLC increased its holdings in shares of Ingersoll Rand by 144.8% during the 4th quarter. Ancora Advisors LLC now owns 497 shares of the industrial products company’s stock worth $45,000 after acquiring an additional 294 shares during the last quarter. Finally, Millstone Evans Group LLC acquired a new position in shares of Ingersoll Rand during the 4th quarter worth approximately $50,000. Institutional investors and hedge funds own 95.27% of the company’s stock.

Ingersoll Rand Stock Performance

IR opened at $84.21 on Tuesday. The business has a fifty day simple moving average of $77.05 and a 200 day simple moving average of $88.40. The company has a market capitalization of $33.97 billion, a PE ratio of 40.88, a price-to-earnings-growth ratio of 3.50 and a beta of 1.42. Ingersoll Rand Inc. has a 1 year low of $65.61 and a 1 year high of $106.03. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.29 and a quick ratio of 1.71.

Ingersoll Rand (NYSE:IR) last released its earnings results on Thursday, May 1st. The industrial products company reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.02). The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.73 billion. Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. The business’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 earnings per share. Research analysts expect that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand announced that its Board of Directors has authorized a stock repurchase program on Thursday, May 1st that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the industrial products company to purchase up to 3.3% of its stock through open market purchases. Stock buyback programs are often 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 5th. Stockholders of record on Thursday, May 15th will be given a dividend of $0.02 per share. The ex-dividend date is Thursday, May 15th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. Ingersoll Rand’s payout ratio is 3.96%.

Analysts Set New Price Targets

A number of research firms recently weighed in on IR. Stifel Nicolaus decreased their target price on Ingersoll Rand from $94.00 to $77.00 and set a “hold” rating on the stock in a report on Monday, April 14th. Barclays decreased their target price on Ingersoll Rand from $93.00 to $85.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. Citigroup boosted their target price on Ingersoll Rand from $88.00 to $91.00 and gave the stock a “buy” rating in a report on Monday, May 5th. Evercore ISI decreased their target price on Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Finally, Wells Fargo & Company boosted their target price on Ingersoll Rand from $80.00 to $86.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Ingersoll Rand has a consensus rating of “Moderate Buy” and a consensus price target of $98.91.

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.