Everence Capital Management Inc. Acquires 6,020 Shares of Ingersoll Rand Inc. (NYSE:IR)

Everence Capital Management Inc. lifted its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 32.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,520 shares of the industrial products company’s stock after purchasing an additional 6,020 shares during the period. Everence Capital Management Inc.’s holdings in Ingersoll Rand were worth $1,896,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in IR. Norges Bank purchased a new stake in Ingersoll Rand in the fourth quarter worth $187,291,000. Morgan Stanley raised its stake in Ingersoll Rand by 65.4% in the 4th quarter. Morgan Stanley now owns 4,701,832 shares of the industrial products company’s stock valued at $245,671,000 after acquiring an additional 1,858,698 shares during the period. Adage Capital Partners GP L.L.C. raised its stake in Ingersoll Rand by 101.0% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,700,061 shares of the industrial products company’s stock valued at $108,328,000 after acquiring an additional 854,314 shares during the period. Vanguard Group Inc. boosted its position in Ingersoll Rand by 1.9% during the first quarter. Vanguard Group Inc. now owns 44,054,298 shares of the industrial products company’s stock worth $2,218,134,000 after purchasing an additional 823,749 shares during the period. Finally, Prudential Financial Inc. boosted its position in Ingersoll Rand by 97.7% during the first quarter. Prudential Financial Inc. now owns 1,270,695 shares of the industrial products company’s stock worth $63,980,000 after purchasing an additional 628,086 shares during the period. 95.27% of the stock is currently owned by institutional investors.

Ingersoll Rand Price Performance

Shares of NYSE:IR opened at $90.87 on Wednesday. The company’s fifty day moving average price is $91.02 and its 200-day moving average price is $78.35. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.22 and a quick ratio of 1.67. The firm has a market capitalization of $36.66 billion, a price-to-earnings ratio of 47.83, a PEG ratio of 3.18 and a beta of 1.44. Ingersoll Rand Inc. has a one year low of $53.24 and a one year high of $96.17.

Ingersoll Rand (NYSE:IR) last released its earnings results on Thursday, February 15th. The industrial products company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. Ingersoll Rand had a return on equity of 12.24% and a net margin of 11.32%. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.76 billion. On average, equities research analysts anticipate that Ingersoll Rand Inc. will post 3.1 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 7th were paid a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.09%. The ex-dividend date of this dividend was Wednesday, March 6th. Ingersoll Rand’s dividend payout ratio is currently 4.21%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on IR. BNP Paribas assumed coverage on shares of Ingersoll Rand in a research note on Tuesday, March 12th. They set a “neutral” rating and a $92.00 price target on the stock. Wells Fargo & Company lifted their price target on Ingersoll Rand from $83.00 to $100.00 and gave the company an “overweight” rating in a research report on Tuesday, February 20th. Cfra increased their price objective on Ingersoll Rand from $68.00 to $85.00 and gave the stock a “hold” rating in a report on Friday, February 16th. Evercore ISI lowered Ingersoll Rand from an “outperform” rating to an “in-line” rating and lifted their target price for the company from $81.00 to $89.00 in a report on Tuesday, February 20th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $102.00 price objective on shares of Ingersoll Rand in a research report on Tuesday, March 26th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Ingersoll Rand currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.73.

Insiders Place Their Bets

In related news, insider Andrew R. Schiesl sold 35,000 shares of Ingersoll Rand stock in a transaction on 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 transaction, the insider now owns 16,525 shares in the company, valued at approximately $1,478,326.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CAO Michael J. Scheske sold 7,590 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $854,920. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Andrew R. Schiesl sold 35,000 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $89.46, for a total transaction of $3,131,100.00. Following the completion of the sale, the insider now directly owns 16,525 shares in the company, valued at approximately $1,478,326.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 293,011 shares of company stock valued at $26,374,789. 0.83% of the stock is currently owned by corporate insiders.

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.