Charles Schwab Investment Management Inc. Raises Holdings in Ingersoll Rand Inc. (NYSE:IR)

Charles Schwab Investment Management Inc. lifted its holdings in Ingersoll Rand Inc. (NYSE:IR) by 1.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,096,205 shares of the industrial products company’s stock after buying an additional 36,858 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.52% of Ingersoll Rand worth $162,120,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Adage Capital Partners GP L.L.C. increased its holdings in shares of Ingersoll Rand by 101.0% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,700,061 shares of the industrial products company’s stock valued at $108,328,000 after purchasing an additional 854,314 shares in the last quarter. FMR LLC lifted its position in shares of Ingersoll Rand by 3.4% during the 3rd quarter. FMR LLC now owns 19,190,038 shares of the industrial products company’s stock valued at $1,222,789,000 after acquiring an additional 627,146 shares during the period. Barclays PLC boosted its stake in shares of Ingersoll Rand by 59.8% during the 3rd quarter. Barclays PLC now owns 876,284 shares of the industrial products company’s stock worth $55,836,000 after acquiring an additional 327,931 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of Ingersoll Rand by 7,475.8% in the 4th quarter. International Assets Investment Management LLC now owns 281,518 shares of the industrial products company’s stock worth $21,773,000 after acquiring an additional 277,802 shares during the period. Finally, Qube Research & Technologies Ltd increased its stake in Ingersoll Rand by 45.4% in the 3rd quarter. Qube Research & Technologies Ltd now owns 796,696 shares of the industrial products company’s stock valued at $50,765,000 after purchasing an additional 248,634 shares in the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.

Ingersoll Rand Price Performance

Shares of Ingersoll Rand stock opened at $91.00 on Friday. Ingersoll Rand Inc. has a twelve month low of $56.49 and a twelve month high of $96.17. The business’s fifty day moving average price is $91.92 and its 200 day moving average price is $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. The stock has a market capitalization of $36.71 billion, a P/E ratio of 45.27, a PEG ratio of 3.02 and a beta of 1.40.

Ingersoll Rand (NYSE:IR) last posted its earnings results on Thursday, February 15th. The industrial products company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.09. The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.76 billion. Ingersoll Rand had a net margin of 11.85% and a return on equity of 12.57%. As a group, research analysts anticipate that Ingersoll Rand Inc. will post 3.1 earnings per share for the current year.

Ingersoll Rand declared that its board has initiated a share buyback program on Thursday, April 25th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to repurchase up to 2.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Ingersoll Rand Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 16th will be given a dividend of $0.02 per share. The ex-dividend date is Wednesday, May 15th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. Ingersoll Rand’s payout ratio is currently 3.98%.

Insider Buying and Selling

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on IR. Stifel Nicolaus restated a “buy” rating and issued a $102.00 price target on shares of Ingersoll Rand in a research report on Tuesday, March 26th. 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 report on Wednesday, February 21st. Wells Fargo & Company lowered their target price on Ingersoll Rand from $105.00 to $98.00 and set an “overweight” rating on the stock in a report on Monday. Evercore ISI lowered Ingersoll Rand from an “outperform” rating to an “in-line” rating and increased their price objective for the company from $81.00 to $89.00 in a research note on Tuesday, February 20th. Finally, StockNews.com cut shares of Ingersoll Rand from a “buy” rating to a “hold” rating in a research note on Saturday, May 4th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $95.82.

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.