GDS Wealth Management Raises Stock Position in Ingersoll Rand Inc. (NYSE:IR)

GDS Wealth Management raised its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 13.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 135,340 shares of the industrial products company’s stock after purchasing an additional 16,452 shares during the period. Ingersoll Rand accounts for approximately 1.4% of GDS Wealth Management’s holdings, making the stock its 28th biggest position. GDS Wealth Management’s holdings in Ingersoll Rand were worth $10,467,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. lifted its position in Ingersoll Rand by 101.0% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,700,061 shares of the industrial products company’s stock worth $108,328,000 after buying an additional 854,314 shares during the last quarter. FMR LLC lifted its stake in Ingersoll Rand by 3.4% in the third quarter. FMR LLC now owns 19,190,038 shares of the industrial products company’s stock worth $1,222,789,000 after purchasing an additional 627,146 shares during the last quarter. Barclays PLC boosted its position in shares of Ingersoll Rand by 59.8% during the third quarter. Barclays PLC now owns 876,284 shares of the industrial products company’s stock valued at $55,836,000 after buying an additional 327,931 shares during the period. International Assets Investment Management LLC grew its stake in shares of Ingersoll Rand by 7,475.8% during the fourth quarter. International Assets Investment Management LLC now owns 281,518 shares of the industrial products company’s stock valued at $21,773,000 after buying an additional 277,802 shares during the last quarter. Finally, Qube Research & Technologies Ltd lifted its stake in shares of Ingersoll Rand by 45.4% during the 3rd quarter. Qube Research & Technologies Ltd now owns 796,696 shares of the industrial products company’s stock worth $50,765,000 after acquiring an additional 248,634 shares during the last quarter. 95.27% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on IR shares. Barclays cut their price objective on shares of Ingersoll Rand from $105.00 to $104.00 and set an “overweight” rating on the stock in a report on Monday. The Goldman Sachs Group upped their price target on shares of Ingersoll Rand from $87.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Citigroup upped their price target on shares of Ingersoll Rand from $105.00 to $112.00 and gave the company a “buy” rating in a research note on Monday, April 8th. StockNews.com lowered shares of Ingersoll Rand from a “buy” rating to a “hold” rating in a research note on Saturday, May 4th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $102.00 price objective on shares of Ingersoll Rand in a research note on Tuesday, March 26th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $95.82.

Ingersoll Rand Trading Up 0.3 %

NYSE:IR traded up $0.25 during trading hours on Thursday, hitting $91.00. The company had a trading volume of 2,390,312 shares, compared to its average volume of 2,592,602. Ingersoll Rand Inc. has a 1 year low of $56.49 and a 1 year high of $96.17. The company has a market cap of $36.71 billion, a P/E ratio of 45.27, a P/E/G ratio of 3.02 and a beta of 1.40. The company has a 50-day moving average of $91.92 and a 200 day moving average of $81.28. The company has a current ratio of 2.32, a quick ratio of 1.71 and a debt-to-equity ratio of 0.27.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings data on Thursday, February 15th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.09. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Ingersoll Rand had a net margin of 11.85% and a return on equity of 12.57%. Sell-side analysts expect that Ingersoll Rand Inc. will post 3.1 earnings per share for the current year.

Ingersoll Rand Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 16th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. The ex-dividend date of this dividend is Wednesday, May 15th. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.98%.

Ingersoll Rand announced that its Board of Directors has initiated a stock repurchase plan on Thursday, April 25th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to repurchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other news, CAO Michael J. Scheske sold 7,590 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $88.00, for a total value of $667,920.00. Following the sale, the chief accounting officer now directly owns 9,715 shares of the company’s stock, valued at approximately $854,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Ingersoll Rand news, CAO Michael J. Scheske sold 7,590 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $88.00, for a total transaction of $667,920.00. Following the transaction, the chief accounting officer now directly owns 9,715 shares in the company, valued at $854,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Vicente Reynal sold 240,000 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $90.16, for a total value of $21,638,400.00. Following the transaction, the insider now owns 91,957 shares in the company, valued at $8,290,843.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 293,011 shares of company stock valued at $26,374,789. 0.83% of the stock is currently owned by insiders.

About Ingersoll Rand

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.