GAMMA Investing LLC Makes New $299,000 Investment in Ingersoll Rand Inc. (NYSE:IR)

GAMMA Investing LLC purchased a new stake in shares of Ingersoll Rand Inc. (NYSE:IR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,745 shares of the industrial products company’s stock, valued at approximately $299,000.

A number of other hedge funds also recently added to or reduced their stakes in the company. OFI Invest Asset Management bought a new stake in shares of Ingersoll Rand in the 3rd quarter worth $25,000. ANTIPODES PARTNERS Ltd bought a new position in Ingersoll Rand during the 4th quarter valued at about $27,000. Quintet Private Bank Europe S.A. purchased a new stake in shares of Ingersoll Rand during the 3rd quarter valued at about $28,000. Clearstead Advisors LLC grew its stake in shares of Ingersoll Rand by 348.2% in the third 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 period. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Ingersoll Rand during the third quarter valued at approximately $32,000. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Ingersoll Rand Price Performance

NYSE:IR opened at $92.50 on Thursday. The business’s 50-day simple moving average is $91.54 and its two-hundred day simple moving average is $79.36. Ingersoll Rand Inc. has a 52 week low of $53.24 and a 52 week high of $96.17. The stock has a market cap of $37.32 billion, a PE ratio of 48.68, a P/E/G ratio of 3.16 and a beta of 1.44. The company has a quick ratio of 1.67, a current ratio of 2.22 and a debt-to-equity ratio of 0.27.

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, beating the consensus estimate of $0.74 by $0.09. Ingersoll Rand had a return on equity of 12.24% and a net margin of 11.32%. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.76 billion. As a group, analysts forecast that Ingersoll Rand Inc. will post 3.1 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

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

Insider Activity at Ingersoll Rand

In other Ingersoll Rand 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Michael J. Scheske sold 7,590 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $88.00, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Vicente Reynal sold 240,000 shares of the 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 transaction, the insider now owns 91,957 shares of the company’s stock, valued at approximately $8,290,843.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 293,011 shares of company stock valued at $26,374,789. Corporate insiders own 0.83% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on IR shares. Citigroup raised their target price 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. StockNews.com raised Ingersoll Rand from a “hold” rating to a “buy” rating in a research report on Sunday, April 7th. Stifel Nicolaus reaffirmed a “buy” rating and set a $102.00 price target on shares of Ingersoll Rand in a research report on Tuesday, March 26th. Evercore ISI cut shares of Ingersoll Rand from an “outperform” rating to an “in-line” rating and increased their price objective for the stock from $81.00 to $89.00 in a research note on Tuesday, February 20th. Finally, The Goldman Sachs Group boosted their target price on shares of Ingersoll Rand from $87.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.73.

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.