Everence Capital Management Inc. Raises Stock Position in Ingersoll Rand Inc. (NYSE:IR)

Everence Capital Management Inc. grew its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 32.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,520 shares of the industrial products company’s stock after buying an additional 6,020 shares during the quarter. 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 institutional investors have also recently made changes to their positions in the business. Horizon Investments LLC boosted its stake in Ingersoll Rand by 2.7% during the second quarter. Horizon Investments LLC now owns 5,837 shares of the industrial products company’s stock worth $382,000 after buying an additional 152 shares during the period. Massmutual Trust Co. FSB ADV lifted its stake in Ingersoll Rand by 17.9% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,137 shares of the industrial products company’s stock worth $88,000 after purchasing an additional 173 shares during the last quarter. Global Retirement Partners LLC raised its holdings in shares of Ingersoll Rand by 11.9% in the third quarter. Global Retirement Partners LLC now owns 1,800 shares of the industrial products company’s stock worth $114,000 after buying an additional 191 shares during the period. Pinnacle Associates Ltd. boosted its holdings in Ingersoll Rand by 4.7% during the 4th quarter. Pinnacle Associates Ltd. now owns 4,333 shares of the industrial products company’s stock valued at $335,000 after acquiring an additional 193 shares during the period. Finally, Catalyst Financial Partners LLC increased its stake in Ingersoll Rand by 3.3% in the third quarter. Catalyst Financial Partners LLC now owns 6,021 shares of the industrial products company’s stock worth $384,000 after purchasing an additional 194 shares during the period. Institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Price Performance

Shares of IR stock opened at $90.87 on Wednesday. The stock’s 50-day moving average is $91.02 and its 200 day moving average is $78.35. Ingersoll Rand Inc. has a 1-year low of $53.24 and a 1-year high of $96.17. 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 company has a market cap of $36.66 billion, a P/E ratio of 47.83, a PEG ratio of 3.18 and a beta of 1.44.

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

Ingersoll Rand Announces Dividend

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

Insider Transactions at Ingersoll Rand

In other Ingersoll Rand news, CAO Michael J. Scheske sold 7,590 shares of the stock in a transaction dated 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 directly owns 9,715 shares in the company, valued at $854,920. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Vicente Reynal sold 240,000 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 91,957 shares of the company’s stock, valued at $8,290,843.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Michael J. Scheske sold 7,590 shares of the firm’s stock in a transaction 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 transaction, the chief accounting officer now owns 9,715 shares of the company’s stock, valued at approximately $854,920. The disclosure for this sale can be found here. Over the last three months, insiders have sold 293,011 shares of company stock valued at $26,374,789. Corporate insiders own 0.83% of the company’s stock.

Analyst Upgrades and Downgrades

IR has been the subject of a number of research analyst reports. UBS Group lifted their price objective on shares of Ingersoll Rand from $78.00 to $93.00 and gave the company a “buy” rating in a report on Monday, January 29th. Cfra boosted their price target on Ingersoll Rand from $68.00 to $85.00 and gave the company a “hold” rating in a report on Friday, February 16th. StockNews.com upgraded Ingersoll Rand from a “hold” rating to a “buy” rating in a report on Sunday, April 7th. Evercore ISI cut Ingersoll Rand from an “outperform” rating to an “in-line” rating and upped their target price for the stock from $81.00 to $89.00 in a report on Tuesday, February 20th. Finally, Wells Fargo & Company raised their price target on Ingersoll Rand from $83.00 to $100.00 and gave the company an “overweight” rating in a research note on Tuesday, February 20th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $92.73.

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.