Illinois Municipal Retirement Fund Has $5.83 Million Stake in Ingersoll Rand Inc. (NYSE:IR)

Illinois Municipal Retirement Fund increased its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 297.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 75,353 shares of the industrial products company’s stock after purchasing an additional 56,394 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Ingersoll Rand were worth $5,828,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. ANTIPODES PARTNERS Ltd purchased a new position in Ingersoll Rand in the fourth quarter valued at about $27,000. OFI Invest Asset Management acquired a new position in Ingersoll Rand in the third quarter worth approximately $25,000. Quintet Private Bank Europe S.A. bought a new position in Ingersoll Rand during the third quarter valued at approximately $28,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Ingersoll Rand in the third quarter valued at approximately $32,000. Finally, Clearstead Advisors LLC grew its position in Ingersoll Rand by 348.2% in the third quarter. Clearstead Advisors LLC now owns 493 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 383 shares in the last quarter. 95.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Ingersoll Rand news, CAO Michael J. Scheske sold 7,590 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $88.00, for a total value of $667,920.00. Following the completion of the sale, the chief accounting officer now owns 9,715 shares in the company, valued at approximately $854,920. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Michael J. Scheske sold 7,590 shares of the firm’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 transaction, the chief accounting officer now directly owns 9,715 shares of the company’s stock, valued at approximately $854,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Andrew R. Schiesl sold 35,000 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were 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 90 days, insiders sold 293,011 shares of company stock valued at $26,374,789. Insiders own 0.83% of the company’s stock.

Ingersoll Rand Stock Performance

Shares of NYSE IR opened at $90.56 on Wednesday. Ingersoll Rand Inc. has a 12 month low of $53.24 and a 12 month high of $96.17. The company has a market cap of $36.54 billion, a P/E ratio of 47.66, a P/E/G ratio of 3.09 and a beta of 1.44. The business’s 50 day moving average is $91.42 and its two-hundred day moving average is $79.27. The company has a quick ratio of 1.67, a current ratio of 2.22 and a debt-to-equity ratio of 0.27.

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

Ingersoll Rand Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 7th were issued a dividend of $0.02 per share. The ex-dividend date was Wednesday, March 6th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Ingersoll Rand’s payout ratio is 4.21%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on IR. Stifel Nicolaus restated a “buy” rating and set a $102.00 price target on shares of Ingersoll Rand in a report on Tuesday, March 26th. Cfra boosted their price target on Ingersoll Rand from $68.00 to $85.00 and gave the stock a “hold” rating in a research report on Friday, February 16th. The Goldman Sachs Group increased their price objective on Ingersoll Rand from $87.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. StockNews.com raised Ingersoll Rand from a “hold” rating to a “buy” rating in a research note on Sunday, April 7th. Finally, Wells Fargo & Company upped their target price on Ingersoll Rand from $83.00 to $100.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 20th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $92.73.

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.