Nuveen Asset Management LLC Trims Stock Position in Ingersoll Rand Inc. (NYSE:IR)

Nuveen Asset Management LLC lessened its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 14.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,132,754 shares of the industrial products company’s stock after selling 533,889 shares during the quarter. Nuveen Asset Management LLC’s holdings in Ingersoll Rand were worth $283,389,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC raised its position in Ingersoll Rand by 4.7% in the fourth quarter. Chicago Partners Investment Group LLC now owns 2,438 shares of the industrial products company’s stock valued at $218,000 after purchasing an additional 109 shares during the period. UMB Bank n.a. grew its stake 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 acquiring an additional 127 shares in the last quarter. RDA Financial Network grew its stake in shares of Ingersoll Rand by 3.1% in the fourth quarter. RDA Financial Network now owns 4,324 shares of the industrial products company’s stock worth $391,000 after acquiring an additional 128 shares in the last quarter. FSM Wealth Advisors LLC grew its stake in shares of Ingersoll Rand by 5.8% in the fourth quarter. FSM Wealth Advisors LLC now owns 2,442 shares of the industrial products company’s stock worth $222,000 after acquiring an additional 134 shares in the last quarter. Finally, Park Avenue Securities LLC grew its stake in shares of Ingersoll Rand by 3.3% in the fourth quarter. Park Avenue Securities LLC now owns 4,288 shares of the industrial products company’s stock worth $388,000 after acquiring an additional 136 shares in the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Trading Down 1.3%

NYSE IR opened at $83.37 on Thursday. The stock has a market capitalization of $33.64 billion, a P/E ratio of 40.47, a P/E/G ratio of 3.50 and a beta of 1.42. Ingersoll Rand Inc. has a 52-week low of $65.61 and a 52-week high of $106.03. The firm has a 50-day moving average price of $77.01 and a 200 day moving average price of $88.34. The company has a quick ratio of 1.71, a current ratio of 2.29 and a debt-to-equity ratio of 0.46.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings results on Thursday, May 1st. The industrial products company reported $0.72 earnings per share (EPS) 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 firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the prior year, the company earned $0.78 earnings per share. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. Equities research analysts expect that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand declared that its Board of Directors has authorized a share buyback program on Thursday, May 1st that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the industrial products company to purchase up to 3.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Ingersoll Rand Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 15th will be given a dividend of $0.02 per share. The ex-dividend date is Thursday, May 15th. This represents a $0.08 annualized dividend and a yield of 0.10%. Ingersoll Rand’s payout ratio is currently 3.96%.

Analyst Upgrades and Downgrades

IR has been the subject of several research reports. Citigroup boosted their price target on shares of Ingersoll Rand from $88.00 to $91.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. Evercore ISI lowered their target price 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. Barclays lowered their target price on shares of Ingersoll Rand from $93.00 to $85.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. Robert W. Baird upped their price objective on shares of Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Finally, Wells Fargo & Company upped their price objective on shares of Ingersoll Rand from $80.00 to $86.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $98.91.

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.