First Horizon Advisors Inc. Has $196,000 Stake in Ingersoll Rand Inc. (NYSE:IR)

First Horizon Advisors Inc. increased its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 280.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,532 shares of the industrial products company’s stock after acquiring an additional 1,867 shares during the quarter. First Horizon Advisors Inc.’s holdings in Ingersoll Rand were worth $196,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Fisher Asset Management LLC lifted its position in Ingersoll Rand by 2.7% during the fourth quarter. Fisher Asset Management LLC now owns 6,370,883 shares of the industrial products company’s stock worth $492,724,000 after acquiring an additional 166,999 shares during the last quarter. First Trust Direct Indexing L.P. lifted its holdings in Ingersoll Rand by 22.2% during the 4th quarter. First Trust Direct Indexing L.P. now owns 5,243 shares of the industrial products company’s stock worth $406,000 after purchasing an additional 951 shares during the last quarter. New York Life Investment Management LLC boosted its stake in Ingersoll Rand by 3.5% in the 4th quarter. New York Life Investment Management LLC now owns 64,944 shares of the industrial products company’s stock valued at $5,023,000 after purchasing an additional 2,174 shares during the period. Savant Capital LLC acquired a new position in Ingersoll Rand in the 4th quarter valued at $366,000. Finally, Ledyard National Bank bought a new position in Ingersoll Rand during the 4th quarter worth $212,000. Institutional investors own 95.27% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Michael J. Scheske sold 7,590 shares of Ingersoll Rand stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $88.00, for a total transaction of $667,920.00. Following 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Ingersoll Rand news, CAO Michael J. Scheske sold 7,590 shares of the company’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 completion of the transaction, the chief accounting officer now directly owns 9,715 shares in the company, valued at approximately $854,920. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Andrew R. Schiesl sold 35,000 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $89.46, for a total transaction of $3,131,100.00. Following the transaction, the insider now directly owns 16,525 shares of the company’s stock, valued at approximately $1,478,326.50. The disclosure for this sale can be found here. Insiders sold a total of 293,011 shares of company stock valued at $26,374,789 in the last 90 days. Corporate insiders own 0.83% of the company’s stock.

Ingersoll Rand Stock Down 6.6 %

Shares of NYSE IR opened at $86.72 on Monday. The stock has a 50-day moving average price of $91.96 and a two-hundred day moving average price of $80.81. Ingersoll Rand Inc. has a 12 month low of $56.49 and a 12 month high of $96.17. 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 company has a market cap of $34.99 billion, a price-to-earnings ratio of 43.14, a PEG ratio of 3.02 and a beta of 1.40.

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

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

Ingersoll Rand Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms recently commented on IR. BNP Paribas began coverage on shares of Ingersoll Rand in a research note on Tuesday, March 12th. They issued a “neutral” rating and a $92.00 price target on the stock. Barclays lifted their price target on shares of Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. UBS Group increased their price target on Ingersoll Rand from $78.00 to $93.00 and gave the stock a “buy” rating in a research report on Monday, January 29th. The Goldman Sachs Group lifted their price objective on Ingersoll Rand from $87.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Finally, Stifel Nicolaus reissued a “buy” rating and set a $102.00 target price on shares of Ingersoll Rand in a report on Tuesday, March 26th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Ingersoll Rand presently has a consensus rating of “Moderate Buy” and an average target price of $92.73.

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.