Franklin Resources Inc. Boosts Position in Ingersoll Rand Inc. (NYSE:IR)

Franklin Resources Inc. increased its holdings in Ingersoll Rand Inc. (NYSE:IR) by 0.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,929,794 shares of the industrial products company’s stock after acquiring an additional 3,708 shares during the quarter. Franklin Resources Inc. owned about 0.48% of Ingersoll Rand worth $149,250,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IR. CreativeOne Wealth LLC lifted 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 purchasing an additional 1,055 shares during the period. D.A. Davidson & CO. purchased a new stake in Ingersoll Rand in the fourth quarter worth about $301,000. Coldstream Capital Management Inc. boosted its position in Ingersoll Rand by 25.3% during the 4th quarter. Coldstream Capital Management Inc. now owns 6,741 shares of the industrial products company’s stock valued at $521,000 after acquiring an additional 1,363 shares in the last quarter. UBS Group AG grew its holdings in shares of Ingersoll Rand by 105.3% during the 4th quarter. UBS Group AG now owns 2,077,028 shares of the industrial products company’s stock worth $160,637,000 after acquiring an additional 1,065,413 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Ingersoll Rand by 6.6% in 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 acquiring an additional 2,258 shares in the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Price Performance

Shares of NYSE IR opened at $96.30 on Thursday. The company has a 50 day moving average of $92.32 and a 200 day moving average of $83.49. The company has a quick ratio of 1.71, a current ratio of 2.32 and a debt-to-equity ratio of 0.27. Ingersoll Rand Inc. has a twelve month low of $56.49 and a twelve month high of $96.36. The firm has a market cap of $38.85 billion, a P/E ratio of 47.91, a PEG ratio of 3.12 and a beta of 1.40.

Ingersoll Rand declared that its Board of Directors has authorized a stock repurchase plan on Thursday, April 25th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the industrial products company to reacquire up to 2.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Ingersoll Rand Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders 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 dividend yield of 0.08%. The ex-dividend date is Wednesday, May 15th. Ingersoll Rand’s payout ratio is currently 3.98%.

Insider Activity at Ingersoll Rand

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on IR shares. Wells Fargo & Company reduced their price target on Ingersoll Rand from $105.00 to $98.00 and set an “overweight” rating on the stock in a research note on Monday, May 6th. Robert W. Baird upped their target price on shares of Ingersoll Rand from $107.00 to $109.00 and gave the stock an “outperform” rating in a research report on Monday, May 6th. The Goldman Sachs Group lifted their price target on shares of Ingersoll Rand from $87.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. UBS Group upped their price objective on shares of Ingersoll Rand from $78.00 to $93.00 and gave the stock a “buy” rating in a report on Monday, January 29th. Finally, Barclays lowered their target price on shares of Ingersoll Rand from $105.00 to $104.00 and set an “overweight” rating for the company in a report on Monday, May 6th. 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 currently has a consensus rating of “Moderate Buy” and an average price target of $95.82.

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.