Raiffeisen Bank International AG Takes Position in Ingersoll Rand Inc. (NYSE:IR)
Raiffeisen Bank International AG acquired a new stake in Ingersoll Rand Inc. (NYSE:IR) during the 4th quarter, purchasing 30,541 shares valued at approximately $2.77 million. Other institutional investors also increased their positions. Ingersoll Rand's stock recently opened at $82.95, with a market cap of $33.47 billion. The company reported a quarterly EPS of $0.72, missing estimates, and announced a $1 billion share buyback program. A quarterly dividend of $0.02 per share is set for June 5th, with a payout ratio of 3.96%.
Raiffeisen Bank International AG purchased a new stake in Ingersoll Rand Inc. (NYSE:IR - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 30,541 shares of the industrial products company's stock, valued at approximately $2,765,000.
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Several other institutional investors and hedge funds also recently made changes to their positions in the company. ProShare Advisors LLC grew its holdings in shares of Ingersoll Rand by 9.3% in the 4th quarter. ProShare Advisors LLC now owns 72,774 shares of the industrial products company's stock valued at $6,583,000 after buying an additional 6,166 shares during the period. Quantinno Capital Management LP lifted its position in Ingersoll Rand by 30.1% in the 4th quarter. Quantinno Capital Management LP now owns 21,327 shares of the industrial products company's stock valued at $1,929,000 after acquiring an additional 4,936 shares in the last quarter. Mufg Securities Americas Inc. bought a new stake in Ingersoll Rand in the 4th quarter valued at $538,000. Nomura Holdings Inc. bought a new stake in Ingersoll Rand during the 4th quarter worth about $1,201,000. Finally, NorthRock Partners LLC bought a new stake in Ingersoll Rand during the 4th quarter worth about $483,000. Institutional investors and hedge funds own 95.27% of the company's stock.
Insiders Place Their Bets
In other Ingersoll Rand news, insider Elizabeth Meloy Hepding sold 3,500 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $83.78, for a total transaction of $293,230.00. Following the transaction, the insider now owns 10,986 shares in the company, valued at $920,407.08. This represents a 24.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.59% of the company's stock.
Ingersoll Rand Stock Down 0.3%
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Shares of IR opened at $82.95 on Friday. Ingersoll Rand Inc. has a 52 week low of $65.61 and a 52 week high of $106.03. The firm has a market cap of $33.47 billion, a P/E ratio of 40.27, a price-to-earnings-growth ratio of 3.50 and a beta of 1.42. The firm's 50-day simple moving average is $76.99 and its 200 day simple moving average is $88.24. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.29.
Ingersoll Rand (NYSE:IR - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The industrial products company reported $0.72 EPS for the quarter, missing analysts' consensus estimates of $0.74 by ($0.02). Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter last year, the company posted $0.78 EPS. The firm's quarterly revenue was up 2.8% on a year-over-year basis. On average, analysts forecast that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.
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Ingersoll Rand announced that its Board of Directors has authorized a share buyback program on Thursday, May 1st that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the industrial products company to reacquire up to 3.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's management believes its stock is undervalued.
Ingersoll Rand Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders 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 presently 3.96%.
Analysts Set New Price Targets
Several equities research analysts have commented on the stock. Evercore ISI cut their price target on shares of Ingersoll Rand from $100.00 to $91.00 and set an "in-line" rating on the stock in a research report on Wednesday, February 19th. Stifel Nicolaus dropped their target price on shares of Ingersoll Rand from $94.00 to $77.00 and set a "hold" rating on the stock in a report on Monday, April 14th. Wells Fargo & Company upped their target price on shares of Ingersoll Rand from $80.00 to $86.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Barclays dropped their target price on shares of Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Finally, Citigroup upped their target price 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. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Ingersoll Rand presently has a consensus rating of "Moderate Buy" and a consensus target price of $98.91.
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Ingersoll Rand Profile
(Free Report)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.
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