Everpar Advisors LLC Invests $322,000 in Ingersoll Rand Inc. (NYSE:IR)

Everpar Advisors LLC bought a new position in shares of Ingersoll Rand Inc. (NYSE:IR) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 4,168 shares of the industrial products company’s stock, valued at approximately $322,000.

A number of other hedge funds also recently made changes to their positions in the business. ANTIPODES PARTNERS Ltd purchased a new stake in Ingersoll Rand in the 4th quarter worth about $27,000. OFI Invest Asset Management purchased a new stake in Ingersoll Rand in the 3rd quarter worth about $25,000. Quintet Private Bank Europe S.A. purchased a new stake in Ingersoll Rand in the 3rd quarter worth about $28,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Ingersoll Rand in the 3rd quarter worth about $32,000. Finally, Clearstead Advisors LLC increased its holdings in Ingersoll Rand by 348.2% in the 3rd quarter. Clearstead Advisors LLC now owns 493 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 383 shares during the last quarter. 95.27% of the stock is currently owned by institutional investors.

Ingersoll Rand Price Performance

IR traded up $0.90 during midday trading on Wednesday, hitting $90.75. The stock had a trading volume of 3,642,468 shares, compared to its average volume of 2,594,872. The company has a market cap of $36.61 billion, a P/E ratio of 45.15, a price-to-earnings-growth ratio of 3.02 and a beta of 1.40. The business has a fifty day moving average of $91.90 and a 200 day moving average of $81.21. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.71 and a current ratio of 2.32. Ingersoll Rand Inc. has a 1 year low of $56.49 and a 1 year high of $96.17.

Ingersoll Rand (NYSE:IR) last issued its earnings results 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 during the quarter, compared to analyst estimates of $1.76 billion. Ingersoll Rand had a return on equity of 12.57% and a net margin of 11.85%. As a group, equities analysts forecast that Ingersoll Rand Inc. will post 3.1 earnings per share for the current fiscal year.

Ingersoll Rand declared that its board has approved a share buyback plan on Thursday, April 25th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the industrial products company to buy up to 2.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Ingersoll Rand Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Thursday, May 16th will be issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date is Wednesday, May 15th. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.98%.

Insider Buying and Selling at Ingersoll Rand

In other Ingersoll Rand news, insider Andrew R. Schiesl sold 10,421 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $89.95, for a total value of $937,368.95. Following the completion of the sale, the insider now owns 48,904 shares in the company, valued at approximately $4,398,914.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Vicente Reynal sold 240,000 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $90.16, for a total value of $21,638,400.00. Following the completion of the transaction, the insider now directly owns 91,957 shares of the company’s stock, valued at $8,290,843.12. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Andrew R. Schiesl sold 10,421 shares of Ingersoll Rand stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $89.95, for a total value of $937,368.95. Following the sale, the insider now directly owns 48,904 shares in the company, valued at $4,398,914.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 293,011 shares of company stock worth $26,374,789. 0.83% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on IR shares. Citigroup lifted their price objective on Ingersoll Rand from $105.00 to $112.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Cfra lifted their target price on Ingersoll Rand from $68.00 to $85.00 and gave the company a “hold” rating in a report on Friday, February 16th. The Goldman Sachs Group lifted their target price 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 lowered Ingersoll Rand from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Wells Fargo & Company reduced their target price on Ingersoll Rand from $105.00 to $98.00 and set an “overweight” rating for the company in a report on Monday. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Ingersoll Rand currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.82.

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.