Ethic Inc. Has $7.33 Million Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

Ethic Inc. increased its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 13.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 81,016 shares of the industrial products company’s stock after purchasing an additional 9,800 shares during the quarter. Ethic Inc.’s holdings in Ingersoll Rand were worth $7,329,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Ingersoll Rand by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 45,684,016 shares of the industrial products company’s stock valued at $4,132,576,000 after buying an additional 446,591 shares in the last quarter. Capital International Investors grew its holdings in Ingersoll Rand by 4.6% during the 4th quarter. Capital International Investors now owns 36,673,865 shares of the industrial products company’s stock worth $3,317,537,000 after acquiring an additional 1,606,363 shares during the last quarter. Capital World Investors increased its position in Ingersoll Rand by 1.0% in the 4th quarter. Capital World Investors now owns 20,088,857 shares of the industrial products company’s stock valued at $1,817,238,000 after acquiring an additional 197,711 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Ingersoll Rand by 3.6% in the fourth quarter. JPMorgan Chase & Co. now owns 18,878,280 shares of the industrial products company’s stock worth $1,707,729,000 after acquiring an additional 649,102 shares during the last quarter. Finally, FMR LLC raised its stake in shares of Ingersoll Rand by 8.2% in the fourth quarter. FMR LLC now owns 17,472,317 shares of the industrial products company’s stock worth $1,580,546,000 after acquiring an additional 1,320,223 shares during the last quarter. 95.27% of the stock is owned by institutional investors.

Ingersoll Rand Stock Up 0.1 %

Shares of NYSE IR opened at $79.29 on Friday. Ingersoll Rand Inc. has a 52-week low of $65.61 and a 52-week high of $106.03. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.29. The stock has a market cap of $31.96 billion, a P/E ratio of 38.49, a P/E/G ratio of 3.50 and a beta of 1.42. The firm has a 50 day moving average price of $77.05 and a 200 day moving average price of $88.59.

Ingersoll Rand (NYSE:IR) last announced its quarterly 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). The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.73 billion. Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. Ingersoll Rand’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period last year, the firm earned $0.78 EPS. Analysts expect that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand declared that its Board of Directors has initiated a stock buyback plan on Thursday, May 1st that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the industrial products company to repurchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Ingersoll Rand Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 15th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. The ex-dividend date is Thursday, May 15th. Ingersoll Rand’s dividend payout ratio is currently 3.96%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Stifel Nicolaus dropped their price objective on shares of Ingersoll Rand from $94.00 to $77.00 and set a “hold” rating for the company in a research report on Monday, April 14th. Evercore ISI dropped their target price on Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating for the company in a research report on Wednesday, February 19th. Wells Fargo & Company raised their price target on Ingersoll Rand from $80.00 to $86.00 and gave the company an “overweight” rating in a report on Monday, May 5th. Robert W. Baird raised their target price on shares of Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Finally, Citigroup boosted their price target on shares of Ingersoll Rand from $88.00 to $91.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Ingersoll Rand has a consensus rating of “Moderate Buy” and an average target price of $98.91.

Ingersoll Rand Company 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.