Twinbeech Capital LP Takes Position in Ingersoll Rand Inc. (NYSE:IR)

Twinbeech Capital LP acquired a new stake in Ingersoll Rand Inc. (NYSE:IR) in the fourth quarter, HoldingsChannel reports. The fund acquired 229,451 shares of the industrial products company’s stock, valued at approximately $20,756,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Savant Capital LLC grew its position in shares of Ingersoll Rand by 2.3% in the 4th quarter. Savant Capital LLC now owns 6,938 shares of the industrial products company’s stock valued at $628,000 after acquiring an additional 158 shares during the period. abrdn plc grew its position in shares of Ingersoll Rand by 70.5% in the 4th quarter. abrdn plc now owns 262,863 shares of the industrial products company’s stock valued at $23,851,000 after acquiring an additional 108,700 shares during the period. tru Independence LLC bought a new position in shares of Ingersoll Rand in the 4th quarter valued at about $291,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Ingersoll Rand by 8.0% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 70,506 shares of the industrial products company’s stock valued at $6,378,000 after acquiring an additional 5,197 shares during the period. Finally, Paradigm Asset Management Co. LLC bought a new position in shares of Ingersoll Rand in the 4th quarter valued at about $1,520,000. Institutional investors own 95.27% of the company’s stock.

Analyst Ratings Changes

IR has been the subject of several research analyst reports. Barclays reduced their target price on shares of Ingersoll Rand from $93.00 to $85.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Evercore ISI reduced their target price on shares of Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Stifel Nicolaus reduced their target price 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. Robert W. Baird lifted their target price on shares of Ingersoll Rand from $105.00 to $111.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Finally, Wells Fargo & Company lifted their target price on shares of 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, Ingersoll Rand has an average rating of “Moderate Buy” and a consensus target price of $98.91.

Ingersoll Rand Price Performance

Shares of Ingersoll Rand stock opened at $84.03 on Monday. Ingersoll Rand Inc. has a twelve month low of $65.61 and a twelve month high of $106.03. The company has a quick ratio of 1.71, a current ratio of 2.29 and a debt-to-equity ratio of 0.46. The company has a 50-day simple moving average of $77.02 and a two-hundred day simple moving average of $88.03. The stock has a market capitalization of $33.90 billion, a price-to-earnings ratio of 40.79, a price-to-earnings-growth ratio of 3.50 and a beta of 1.42.

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

Ingersoll Rand Dividend Announcement

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 paid 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 dividend payout ratio (DPR) is 3.96%.

Ingersoll Rand declared that its Board of Directors has approved a stock repurchase plan on Thursday, May 1st that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the industrial products company to purchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider Elizabeth Meloy Hepding sold 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $83.78, for a total value of $293,230.00. Following the completion of the transaction, the insider now directly owns 10,986 shares in the company, valued at approximately $920,407.08. The trade was a 24.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate 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.