Ingersoll Rand Inc. (NYSE:IR) Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. boosted its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 0.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,929,794 shares of the industrial products company’s stock after acquiring an additional 3,708 shares during the period. Franklin Resources Inc.’s holdings in Ingersoll Rand were worth $149,250,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. CreativeOne Wealth LLC raised its position in shares of Ingersoll Rand by 21.8% in the 4th quarter. CreativeOne Wealth LLC now owns 5,888 shares of the industrial products company’s stock worth $455,000 after buying an additional 1,055 shares during the period. D.A. Davidson & CO. acquired a new stake in Ingersoll Rand during the fourth quarter worth about $301,000. Coldstream Capital Management Inc. raised its holdings in shares of Ingersoll Rand by 25.3% in the 4th quarter. Coldstream Capital Management Inc. now owns 6,741 shares of the industrial products company’s stock worth $521,000 after purchasing an additional 1,363 shares during the period. UBS Group AG lifted its stake in shares of Ingersoll Rand by 105.3% in the 4th quarter. UBS Group AG now owns 2,077,028 shares of the industrial products company’s stock valued at $160,637,000 after purchasing an additional 1,065,413 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S increased its position in Ingersoll Rand by 6.6% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 36,498 shares of the industrial products company’s stock worth $2,823,000 after purchasing an additional 2,258 shares in the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.

Insider Transactions at Ingersoll Rand

In other news, insider Andrew R. Schiesl sold 35,000 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $89.46, for a total transaction of $3,131,100.00. Following the sale, the insider now directly owns 16,525 shares in the company, valued at approximately $1,478,326.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Ingersoll Rand news, insider Andrew R. Schiesl sold 35,000 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $89.46, for a total transaction of $3,131,100.00. Following the completion of the transaction, the insider now owns 16,525 shares in the company, valued at approximately $1,478,326.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Vicente Reynal sold 240,000 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $90.16, for a total transaction of $21,638,400.00. Following the completion of the transaction, the insider now owns 91,957 shares of the company’s stock, valued at approximately $8,290,843.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 297,369 shares of company stock worth $26,831,251. 0.68% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on IR shares. Robert W. Baird boosted their price objective on shares of Ingersoll Rand from $107.00 to $109.00 and gave the stock an “outperform” rating in a research note on Monday, May 6th. StockNews.com downgraded Ingersoll Rand from a “buy” rating to a “hold” rating in a report on Saturday, May 4th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $102.00 target price on shares of Ingersoll Rand in a research report on Tuesday, March 26th. The Goldman Sachs Group raised their target price on Ingersoll Rand from $87.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Finally, Wells Fargo & Company lowered their price objective on shares of Ingersoll Rand from $105.00 to $98.00 and set an “overweight” rating for the company in a research report on Monday, May 6th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Ingersoll Rand currently has an average rating of “Moderate Buy” and an average price target of $95.82.

Ingersoll Rand Trading Up 1.2 %

NYSE IR opened at $96.30 on Thursday. The company has a market capitalization of $38.85 billion, a price-to-earnings ratio of 47.91, a price-to-earnings-growth ratio of 3.12 and a beta of 1.40. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.32 and a quick ratio of 1.71. Ingersoll Rand Inc. has a 12 month low of $56.49 and a 12 month high of $96.36. The company’s fifty day moving average price is $92.32 and its two-hundred day moving average price is $83.49.

Ingersoll Rand announced that its Board of Directors has initiated a share repurchase program on Thursday, April 25th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to repurchase up to 2.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Ingersoll Rand Announces Dividend

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

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.