Alpine Bank Wealth Management Purchases Shares of 518 Ingersoll Rand Inc. (NYSE:IR)

Alpine Bank Wealth Management acquired a new position in shares of Ingersoll Rand Inc. (NYSE:IR) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 518 shares of the industrial products company’s stock, valued at approximately $41,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Global Wealth Strategies & Associates increased its position in Ingersoll Rand by 325.0% during the first quarter. Global Wealth Strategies & Associates now owns 374 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 286 shares during the period. Murphy & Mullick Capital Management Corp bought a new position in shares of Ingersoll Rand during the fourth quarter worth approximately $36,000. OFI Invest Asset Management bought a new position in shares of Ingersoll Rand during the fourth quarter worth approximately $38,000. Lee Danner & Bass Inc. acquired a new stake in shares of Ingersoll Rand in the fourth quarter valued at approximately $42,000. Finally, Golden State Wealth Management LLC boosted its stake in shares of Ingersoll Rand by 190.9% in the first quarter. Golden State Wealth Management LLC now owns 477 shares of the industrial products company’s stock valued at $38,000 after buying an additional 313 shares during the period. Institutional investors and hedge funds own 95.27% of the company’s stock.

Insiders Place Their Bets

In other news, insider Elizabeth Meloy Hepding sold 3,500 shares of Ingersoll Rand stock in a transaction 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 in the company, valued at approximately $920,407.08. The trade was a 24.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Vicente Reynal sold 38,657 shares of the business’s stock in a transaction on Tuesday, May 20th. The stock was 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 directly owns 193,186 shares in the company, valued at approximately $16,040,233.58. This represents a 16.67% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. 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 research note on Monday, April 14th. Barclays decreased their price target on Ingersoll Rand from $93.00 to $85.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Citigroup upped their price objective on shares of Ingersoll Rand from $88.00 to $91.00 and gave the stock a “buy” rating in a research report on Monday, May 5th. Finally, Wells Fargo & Company increased their price objective on shares of Ingersoll Rand from $80.00 to $86.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $97.80.

Ingersoll Rand Stock Performance

NYSE:IR opened at $85.09 on Friday. The company has a quick ratio of 1.76, a current ratio of 2.38 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $34.33 billion, a PE ratio of 42.12, a price-to-earnings-growth ratio of 3.31 and a beta of 1.44. Ingersoll Rand Inc. has a twelve month low of $65.61 and a twelve month high of $106.03. The stock’s 50-day simple moving average is $80.10 and its 200 day simple moving average is $84.12.

Ingersoll Rand (NYSE:IR) last posted its quarterly 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 company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.73 billion. Ingersoll Rand had a net margin of 11.30% and a return on equity of 12.33%. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.78 earnings per share. On average, analysts anticipate that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

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

Ingersoll Rand Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 15th were given a dividend of $0.02 per share. The ex-dividend date was Thursday, May 15th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. Ingersoll Rand’s dividend payout ratio is currently 3.96%.

Ingersoll Rand 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.