First Trust Direct Indexing L.P. Raises Holdings in Ingersoll Rand Inc. (NYSE:IR)

First Trust Direct Indexing L.P. grew its holdings in Ingersoll Rand Inc. (NYSE:IR) by 22.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,243 shares of the industrial products company’s stock after purchasing an additional 951 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Ingersoll Rand were worth $406,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of IR. New York Life Investment Management LLC lifted its position in shares of Ingersoll Rand by 3.5% during the fourth 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 buying an additional 2,174 shares during the last quarter. Savant Capital LLC purchased a new stake in Ingersoll Rand during the fourth quarter valued at approximately $366,000. Ledyard National Bank acquired a new stake in Ingersoll Rand in the fourth quarter valued at approximately $212,000. Mitchell Mcleod Pugh & Williams Inc. purchased a new position in Ingersoll Rand in the fourth quarter worth $212,000. Finally, Argyle Capital Management Inc. acquired a new position in shares of Ingersoll Rand during the fourth quarter worth $205,000. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Analyst Upgrades and Downgrades

IR has been the subject of a number of recent research reports. Citigroup lifted their price objective on Ingersoll Rand from $105.00 to $112.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Robert W. Baird boosted their price target on Ingersoll Rand from $107.00 to $109.00 and gave the company an “outperform” rating in a report on Monday. Cfra raised their price objective on shares of Ingersoll Rand from $68.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, February 16th. Stifel Nicolaus reiterated a “buy” rating and issued a $102.00 target price on shares of Ingersoll Rand in a research note on Tuesday, March 26th. Finally, Wells Fargo & Company cut their price objective on shares of Ingersoll Rand from $105.00 to $98.00 and set an “overweight” rating for the company in a report on Monday. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Ingersoll Rand currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.82.

Ingersoll Rand Stock Up 2.0 %

Shares of NYSE IR opened at $88.45 on Tuesday. Ingersoll Rand Inc. has a 52-week low of $56.49 and a 52-week high of $96.17. The company has a quick ratio of 1.71, a current ratio of 2.32 and a debt-to-equity ratio of 0.27. The company’s 50-day simple moving average is $91.91 and its 200-day simple moving average is $81.01. The firm has a market cap of $35.69 billion, a price-to-earnings ratio of 44.01, a price-to-earnings-growth ratio of 3.02 and a beta of 1.40.

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

Ingersoll Rand Announces Dividend

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

Ingersoll Rand announced that its Board of Directors has initiated a share buyback program on Thursday, April 25th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the industrial products company to reacquire up to 2.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In related news, CAO Michael J. Scheske sold 7,590 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $88.00, for a total transaction of $667,920.00. Following the completion of the sale, the chief accounting officer now owns 9,715 shares of the company’s stock, valued at approximately $854,920. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Andrew R. Schiesl sold 10,421 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $89.95, for a total transaction of $937,368.95. Following the transaction, the insider now owns 48,904 shares of the company’s stock, valued at approximately $4,398,914.80. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Michael J. Scheske sold 7,590 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $88.00, for a total transaction 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 approximately $854,920. The disclosure for this sale can be found here. Insiders have sold a total of 293,011 shares of company stock valued at $26,374,789 in the last 90 days. 0.83% of the stock is owned by insiders.

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.