Ingersoll Rand Inc. (NYSE:IR) Shares Acquired by Global Wealth Strategies & Associates

Global Wealth Strategies & Associates raised its holdings in Ingersoll Rand Inc. (NYSE:IR) by 325.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 374 shares of the industrial products company’s stock after buying an additional 286 shares during the period. Global Wealth Strategies & Associates’ holdings in Ingersoll Rand were worth $30,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Ingersoll Rand by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 45,684,016 shares of the industrial products company’s stock worth $4,132,576,000 after purchasing an additional 446,591 shares during the last quarter. Capital International Investors grew its holdings in shares of Ingersoll Rand by 4.6% during the fourth quarter. Capital International Investors now owns 36,673,865 shares of the industrial products company’s stock worth $3,317,537,000 after purchasing an additional 1,606,363 shares during the last quarter. Capital World Investors grew its holdings in shares of Ingersoll Rand by 1.0% during the fourth quarter. Capital World Investors now owns 20,088,857 shares of the industrial products company’s stock worth $1,817,238,000 after purchasing an additional 197,711 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Ingersoll Rand by 3.6% during the fourth quarter. JPMorgan Chase & Co. now owns 18,878,280 shares of the industrial products company’s stock worth $1,707,729,000 after purchasing an additional 649,102 shares during the last quarter. Finally, FMR LLC grew its holdings in shares of Ingersoll Rand by 8.2% during the fourth quarter. FMR LLC now owns 17,472,317 shares of the industrial products company’s stock worth $1,580,546,000 after buying an additional 1,320,223 shares during the last quarter. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IR has been the topic of a number of research reports. Barclays lowered their price target on Ingersoll Rand from $93.00 to $85.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. Wells Fargo & Company raised their price target on Ingersoll Rand from $80.00 to $86.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. Robert W. Baird raised their price target on Ingersoll Rand from $105.00 to $111.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Evercore ISI lowered their price target 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. Finally, Stifel Nicolaus lowered their price objective on Ingersoll Rand from $94.00 to $77.00 and set a “hold” rating on the stock in a report on Monday, April 14th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Ingersoll Rand has a consensus rating of “Moderate Buy” and an average price target of $98.91.

Ingersoll Rand Trading Down 0.9%

Shares of Ingersoll Rand stock opened at $81.85 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.29 and a quick ratio of 1.71. Ingersoll Rand Inc. has a 1 year low of $65.61 and a 1 year high of $106.03. The company has a market capitalization of $33.02 billion, a P/E ratio of 39.73, a P/E/G ratio of 3.50 and a beta of 1.42. The business has a 50 day moving average price of $77.05 and a 200 day moving average price of $87.22.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings data 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 company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the prior year, the firm earned $0.78 earnings per share. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. Sell-side analysts anticipate that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 15th will be issued a $0.02 dividend. The ex-dividend date is Thursday, May 15th. This represents a $0.08 annualized dividend and a yield of 0.10%. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.96%.

Ingersoll Rand announced that its board has approved a share repurchase program on Thursday, May 1st that permits the company to buyback $1.00 billion in 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 an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Ingersoll Rand

In other news, insider Elizabeth Meloy Hepding sold 3,500 shares of the company’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $83.78, for a total transaction of $293,230.00. Following the completion of the sale, the insider now directly owns 10,986 shares in the company, valued at $920,407.08. This represents a 24.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Vicente Reynal sold 38,657 shares of the company’s stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $83.03, for a total value of $3,209,690.71. Following the sale, the insider now owns 193,186 shares of the company’s stock, valued at approximately $16,040,233.58. The trade was a 16.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by insiders.

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.