Ingersoll Rand Inc. (NYSE:IR) Holdings Increased by GAMMA Investing LLC

GAMMA Investing LLC lifted its stake in Ingersoll Rand Inc. (NYSE:IR) by 7,137.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,307,370 shares of the industrial products company’s stock after acquiring an additional 1,289,305 shares during the period. GAMMA Investing LLC owned 0.32% of Ingersoll Rand worth $1,046,290,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in IR. JPMorgan Chase & Co. boosted its stake in Ingersoll Rand by 8.7% during the third quarter. JPMorgan Chase & Co. now owns 18,229,178 shares of the industrial products company’s stock valued at $1,789,376,000 after buying an additional 1,462,538 shares in the last quarter. Blue Trust Inc. lifted its holdings in Ingersoll Rand by 69.0% in the 4th quarter. Blue Trust Inc. now owns 4,611 shares of the industrial products company’s stock valued at $453,000 after acquiring an additional 1,882 shares during the last quarter. KBC Group NV boosted its position in shares of Ingersoll Rand by 2.3% during the 4th quarter. KBC Group NV now owns 75,374 shares of the industrial products company’s stock valued at $6,818,000 after purchasing an additional 1,682 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of Ingersoll Rand by 5.9% in the 4th quarter. Pacer Advisors Inc. now owns 39,622 shares of the industrial products company’s stock worth $3,584,000 after purchasing an additional 2,202 shares during the last quarter. Finally, OLD National Bancorp IN raised its holdings in shares of Ingersoll Rand by 23.3% in the 4th quarter. OLD National Bancorp IN now owns 3,844 shares of the industrial products company’s stock worth $348,000 after purchasing an additional 726 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors.

Ingersoll Rand Stock Up 0.3%

NYSE:IR opened at $82.06 on Friday. The business’s fifty day moving average price is $77.05 and its 200 day moving average price is $87.07. The firm has a market capitalization of $33.11 billion, a price-to-earnings ratio of 39.84, a PEG ratio of 3.50 and a beta of 1.42. 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 1-year low of $65.61 and a 1-year high of $106.03.

Ingersoll Rand (NYSE:IR) last issued its earnings results on Thursday, May 1st. The industrial products company reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.02). The business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.73 billion. Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. Ingersoll Rand’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.78 EPS. On average, sell-side analysts forecast that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand declared that its board has authorized a share repurchase plan on Thursday, May 1st that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the industrial products company to reacquire up to 3.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are 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 paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. The ex-dividend date of this dividend is Thursday, May 15th. Ingersoll Rand’s dividend payout ratio (DPR) is currently 3.96%.

Insider Activity

In related news, insider Elizabeth Meloy Hepding sold 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $83.78, for a total transaction of $293,230.00. Following the transaction, the insider now owns 10,986 shares of the company’s stock, valued at approximately $920,407.08. This trade represents a 24.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Vicente Reynal sold 38,657 shares of Ingersoll Rand stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $83.03, for a total transaction of $3,209,690.71. Following the completion of the sale, the insider now owns 193,186 shares of the company’s stock, valued at $16,040,233.58. This trade represents 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 corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on IR. Barclays reduced their target price on shares of Ingersoll Rand from $93.00 to $85.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Citigroup raised their price objective on 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 cut their target price on Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 19th. Wells Fargo & Company upped their target price on Ingersoll Rand from $80.00 to $86.00 and gave the company an “overweight” rating in a report on Monday, May 5th. Finally, Stifel Nicolaus dropped their price target on Ingersoll Rand from $94.00 to $77.00 and set a “hold” rating on the stock in a research note on Monday, April 14th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.