Illinois Municipal Retirement Fund Boosts Holdings in Ingersoll Rand Inc. (NYSE:IR)

Illinois Municipal Retirement Fund boosted its stake in Ingersoll Rand Inc. (NYSE:IR) by 297.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 75,353 shares of the industrial products company’s stock after acquiring an additional 56,394 shares during the period. Illinois Municipal Retirement Fund’s holdings in Ingersoll Rand were worth $5,828,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of IR. FMR LLC grew its position in shares of Ingersoll Rand by 3.4% during the third quarter. FMR LLC now owns 19,190,038 shares of the industrial products company’s stock worth $1,222,789,000 after acquiring an additional 627,146 shares during the last quarter. JPMorgan Chase & Co. grew its position in Ingersoll Rand by 1.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,547,716 shares of the industrial products company’s stock worth $735,821,000 after purchasing an additional 213,441 shares during the last quarter. Northern Trust Corp increased its stake in Ingersoll Rand by 2.4% in the third quarter. Northern Trust Corp now owns 4,005,504 shares of the industrial products company’s stock valued at $255,231,000 after purchasing an additional 95,559 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Ingersoll Rand by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,059,347 shares of the industrial products company’s stock valued at $131,222,000 after purchasing an additional 28,030 shares during the period. Finally, Royal Bank of Canada raised its holdings in shares of Ingersoll Rand by 0.4% in the third quarter. Royal Bank of Canada now owns 2,020,934 shares of the industrial products company’s stock valued at $128,773,000 after buying an additional 7,524 shares during the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.

Insider Activity at Ingersoll Rand

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

Analysts Set New Price Targets

IR has been the subject of several analyst reports. Barclays upped their price target on Ingersoll Rand from $101.00 to $105.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Evercore ISI cut shares of Ingersoll Rand from an “outperform” rating to an “in-line” rating and raised their target price for the stock from $81.00 to $89.00 in a research note on Tuesday, February 20th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $102.00 target price on shares of Ingersoll Rand in a report on Tuesday, March 26th. Citigroup increased their price target on shares of Ingersoll Rand from $105.00 to $112.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Finally, UBS Group raised their price objective on shares of Ingersoll Rand from $78.00 to $93.00 and gave the company a “buy” rating in a research report on Monday, January 29th. Three equities research 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.com, Ingersoll Rand presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.73.

Ingersoll Rand Price Performance

IR stock opened at $90.56 on Wednesday. The stock’s 50 day moving average price is $91.42 and its 200 day moving average price is $79.27. The firm has a market cap of $36.54 billion, a P/E ratio of 47.66, a PEG ratio of 3.09 and a beta of 1.44. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.67 and a current ratio of 2.22. Ingersoll Rand Inc. has a 1 year low of $53.24 and a 1 year high of $96.17.

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

Ingersoll Rand Announces Dividend

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

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.