Yousif Capital Management LLC Reduces Position in Ingersoll Rand Inc. (NYSE:IR)

Yousif Capital Management LLC trimmed its stake in Ingersoll Rand Inc. (NYSE:IR) by 0.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,392 shares of the industrial products company’s stock after selling 384 shares during the period. Yousif Capital Management LLC’s holdings in Ingersoll Rand were worth $4,193,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Global Wealth Strategies & Associates boosted its stake in Ingersoll Rand by 325.0% during the 1st quarter. Global Wealth Strategies & Associates now owns 374 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 286 shares during the period. Murphy & Mullick Capital Management Corp acquired a new position in Ingersoll Rand during the fourth quarter worth about $36,000. OFI Invest Asset Management acquired a new position in Ingersoll Rand during the fourth quarter worth about $38,000. Lee Danner & Bass Inc. acquired a new position in Ingersoll Rand during the fourth quarter worth about $42,000. Finally, Ancora Advisors LLC raised its position in Ingersoll Rand by 144.8% during the fourth quarter. Ancora Advisors LLC now owns 497 shares of the industrial products company’s stock worth $45,000 after acquiring an additional 294 shares during the last quarter. 95.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Ingersoll Rand

In other news, insider Elizabeth Meloy Hepding sold 3,500 shares of the firm’s stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $83.78, for a total value of $293,230.00. Following the sale, the insider now owns 10,986 shares in the company, valued at approximately $920,407.08. This trade represents a 24.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Vicente Reynal sold 38,657 shares of the firm’s stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $83.03, for a total transaction of $3,209,690.71. Following the completion of the sale, the insider now owns 193,186 shares in the company, valued at approximately $16,040,233.58. The trade was a 16.67% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.59% of the company’s stock.

Ingersoll Rand Stock Performance

NYSE:IR opened at $82.44 on Friday. Ingersoll Rand Inc. has a twelve month low of $65.61 and a twelve month high of $106.03. The company has a current ratio of 2.29, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The company has a 50-day moving average of $78.00 and a 200-day moving average of $85.63. The firm has a market cap of $33.26 billion, a price-to-earnings ratio of 40.02, a price-to-earnings-growth ratio of 3.50 and a beta of 1.44.

Ingersoll Rand (NYSE:IR) last announced its earnings results on Thursday, May 1st. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.02). Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period last year, the firm earned $0.78 earnings per share. Ingersoll Rand’s revenue for the quarter was up 2.8% compared to the same quarter last year. Analysts forecast that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand announced that its Board of Directors has initiated a stock repurchase program on Thursday, May 1st that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to buy up to 3.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Ingersoll Rand Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Thursday, May 15th were given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. The ex-dividend date was Thursday, May 15th. Ingersoll Rand’s dividend payout ratio (DPR) is 3.96%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on IR. Wells Fargo & Company boosted their price objective on shares of Ingersoll Rand from $80.00 to $86.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. Stifel Nicolaus reduced their target price on shares of Ingersoll Rand from $94.00 to $77.00 and set a “hold” rating on the stock in a research report on Monday, April 14th. Robert W. Baird upped their price target on shares of Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Barclays cut their price target on shares of Ingersoll Rand from $93.00 to $85.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. Finally, Evercore ISI dropped their target price on shares of Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Ingersoll Rand presently has an average rating of “Moderate Buy” and an average target price of $98.91.

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.