Centiva Capital LP Buys 19,826 Shares of Ingersoll Rand Inc. (NYSE:IR)

Centiva Capital LP grew its position in Ingersoll Rand Inc. (NYSE:IR) by 593.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,164 shares of the industrial products company’s stock after purchasing an additional 19,826 shares during the quarter. Centiva Capital LP’s holdings in Ingersoll Rand were worth $2,095,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Chicago Partners Investment Group LLC increased its stake in Ingersoll Rand by 4.7% in the 4th quarter. Chicago Partners Investment Group LLC now owns 2,438 shares of the industrial products company’s stock worth $218,000 after buying an additional 109 shares in the last quarter. UMB Bank n.a. grew its position in shares of Ingersoll Rand by 27.0% during 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 in the last quarter. RDA Financial Network lifted its holdings in Ingersoll Rand by 3.1% in the 4th quarter. RDA Financial Network now owns 4,324 shares of the industrial products company’s stock worth $391,000 after purchasing an additional 128 shares in the last quarter. FSM Wealth Advisors LLC boosted its stake in Ingersoll Rand by 5.8% in the 4th quarter. FSM Wealth Advisors LLC now owns 2,442 shares of the industrial products company’s stock worth $222,000 after purchasing an additional 134 shares during the period. Finally, Park Avenue Securities LLC grew its holdings in Ingersoll Rand by 3.3% during the 4th quarter. Park Avenue Securities LLC now owns 4,288 shares of the industrial products company’s stock valued at $388,000 after buying an additional 136 shares in the last quarter. 95.27% of the stock is owned by hedge funds and other institutional investors.

Ingersoll Rand Stock Performance

Shares of NYSE:IR opened at $76.01 on Wednesday. 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 $30.64 billion, a price-to-earnings ratio of 36.90, a PEG ratio of 3.50 and a beta of 1.42. The firm’s 50-day moving average is $77.30 and its 200 day moving average is $88.94.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings results on Thursday, May 1st. The industrial products company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.02). Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. The business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the previous year, the company posted $0.78 earnings per share. 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 0.11%. The ex-dividend date of this dividend is Thursday, May 15th. Ingersoll Rand’s payout ratio is presently 3.96%.

Ingersoll Rand declared that its board has approved a stock repurchase program on Thursday, May 1st that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the industrial products company to purchase up to 3.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts recently weighed in on IR shares. Wells Fargo & Company raised their target price on shares of Ingersoll Rand from $80.00 to $86.00 and gave the company an “overweight” rating in a research note on Monday. Evercore ISI reduced their target price on Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Stifel Nicolaus dropped their price target on Ingersoll Rand from $94.00 to $77.00 and set a “hold” rating for the company in a research note on Monday, April 14th. Citigroup upped their price objective on Ingersoll Rand from $88.00 to $91.00 and gave the stock a “buy” rating in a report on Monday. Finally, Robert W. Baird raised their target price on shares of Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Ingersoll Rand presently has a consensus rating of “Moderate Buy” and an average price target of $98.91.

About Ingersoll Rand

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.