Toronto Dominion Bank Increases Holdings in Ingersoll Rand Inc. (NYSE:IR)

Toronto Dominion Bank lifted its holdings in Ingersoll Rand Inc. (NYSE:IR) by 0.6% in the fourth quarter, Holdings Channel reports. The fund owned 136,862 shares of the industrial products company’s stock after purchasing an additional 866 shares during the quarter. Toronto Dominion Bank’s holdings in Ingersoll Rand were worth $12,380,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IR. Murphy & Mullick Capital Management Corp bought a new stake in shares of Ingersoll Rand in the 4th quarter worth about $36,000. OFI Invest Asset Management purchased a new stake in shares of Ingersoll Rand in the fourth quarter valued at approximately $38,000. Lee Danner & Bass Inc. purchased a new stake in shares of Ingersoll Rand in the 4th quarter worth $42,000. Ancora Advisors LLC grew its holdings in 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 in the last quarter. Finally, Millstone Evans Group LLC bought a new position in shares of Ingersoll Rand during the fourth quarter valued at approximately $50,000. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Citigroup raised their price target on shares of Ingersoll Rand from $88.00 to $91.00 and gave the company a “buy” rating in a report on Monday, May 5th. Robert W. Baird boosted their price target on Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Barclays cut their price objective on shares of Ingersoll Rand from $93.00 to $85.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Evercore ISI dropped 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, Stifel Nicolaus cut their price objective on shares of Ingersoll Rand from $94.00 to $77.00 and set a “hold” rating for the company in a report on Monday, April 14th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.91.

Ingersoll Rand Stock Performance

Shares of IR opened at $82.92 on Wednesday. The company’s 50 day simple moving average is $77.12 and its 200-day simple moving average is $87.92. The firm has a market cap of $33.46 billion, a PE ratio of 40.25, a price-to-earnings-growth ratio of 3.50 and a beta of 1.42. Ingersoll Rand Inc. has a 12-month low of $65.61 and a 12-month high of $106.03. The company has a current ratio of 2.29, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings data on Thursday, May 1st. The industrial products company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.02). The company had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. The firm’s revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.78 earnings per share. As a group, equities analysts predict that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 15th will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.10%. The ex-dividend date is Thursday, May 15th. Ingersoll Rand’s payout ratio is 3.96%.

Ingersoll Rand announced that its Board of Directors has initiated a stock buyback plan on Thursday, May 1st that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the industrial products company to purchase up to 3.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at Ingersoll Rand

In other Ingersoll Rand news, insider Elizabeth Meloy Hepding sold 3,500 shares of the company’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $83.78, for a total value of $293,230.00. Following the sale, the insider now owns 10,986 shares of the company’s stock, valued at $920,407.08. This represents a 24.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.59% 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.