Kovitz Investment Group Partners LLC Purchases Shares of 3,697 Ingersoll Rand Inc. (NYSE:IR)

Kovitz Investment Group Partners LLC acquired a new position in Ingersoll Rand Inc. (NYSE:IR) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,697 shares of the industrial products company’s stock, valued at approximately $334,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Murphy & Mullick Capital Management Corp bought a new stake in shares of Ingersoll Rand during the fourth quarter valued at approximately $36,000. OFI Invest Asset Management purchased a new stake in Ingersoll Rand in the 4th quarter worth $38,000. Lee Danner & Bass Inc. bought a new position in shares of Ingersoll Rand during the 4th quarter valued at about $42,000. Millstone Evans Group LLC purchased a new position in shares of Ingersoll Rand during the fourth quarter valued at about $50,000. Finally, UMB Bank n.a. increased its holdings in shares of Ingersoll Rand by 27.0% in the fourth quarter. UMB Bank n.a. now owns 598 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 127 shares during the last quarter. 95.27% of the stock is currently owned by institutional investors.

Ingersoll Rand Stock Performance

Shares of NYSE:IR opened at $76.72 on Friday. The company has a current ratio of 2.29, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. Ingersoll Rand Inc. has a 12 month low of $65.61 and a 12 month high of $106.03. The company has a market capitalization of $30.92 billion, a price-to-earnings ratio of 37.24, a PEG ratio of 3.50 and a beta of 1.40. The firm’s 50-day moving average is $77.57 and its 200 day moving average is $89.36.

Ingersoll Rand (NYSE:IR) last released its earnings results on Thursday, May 1st. The industrial products company reported $0.72 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.02). Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the prior year, the company posted $0.78 EPS. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. Research analysts predict that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 15th will be issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. The ex-dividend date is Thursday, May 15th. Ingersoll Rand’s payout ratio is presently 3.88%.

Ingersoll Rand announced that its board has initiated a stock repurchase plan on Thursday, May 1st that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the industrial products company to repurchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts have weighed in on IR shares. Barclays cut their price target on Ingersoll Rand from $93.00 to $85.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Stifel Nicolaus cut their target price on shares of Ingersoll Rand from $94.00 to $77.00 and set a “hold” rating for the company in a report on Monday, April 14th. Wells Fargo & Company decreased their price target on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Evercore ISI dropped their price objective on shares of Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. Finally, Citigroup reduced their target price on shares of Ingersoll Rand from $109.00 to $88.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $100.36.

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.