Regents Gate Capital LLP Sells 101,568 Shares of Ingersoll Rand Inc. (NYSE:IR)

Regents Gate Capital LLP cut its holdings in Ingersoll Rand Inc. (NYSE:IR) by 90.3% during the 1st quarter, HoldingsChannel.com reports. The fund owned 10,865 shares of the industrial products company’s stock after selling 101,568 shares during the period. Regents Gate Capital LLP’s holdings in Ingersoll Rand were worth $870,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Compass Wealth Management LLC grew its stake in Ingersoll Rand by 62.8% in the 1st quarter. Compass Wealth Management LLC now owns 355 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 137 shares in the last quarter. Global Wealth Strategies & Associates grew its position in shares of Ingersoll Rand by 325.0% in the first quarter. Global Wealth Strategies & Associates now owns 374 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 286 shares during the period. Murphy & Mullick Capital Management Corp acquired a new position in Ingersoll Rand during the fourth quarter worth about $36,000. OFI Invest Asset Management purchased a new position in Ingersoll Rand during the fourth quarter worth about $38,000. Finally, Golden State Wealth Management LLC raised its stake in shares of Ingersoll Rand by 190.9% in the 1st quarter. Golden State Wealth Management LLC now owns 477 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 313 shares during the period. 95.27% of the stock is owned by institutional investors.

Ingersoll Rand Trading Up 0.3%

NYSE IR opened at $87.11 on Wednesday. The company has a current ratio of 2.38, a quick ratio of 1.76 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $35.15 billion, a PE ratio of 43.12, a price-to-earnings-growth ratio of 3.67 and a beta of 1.43. The firm’s fifty day simple moving average is $82.08 and its 200-day simple moving average is $83.36. Ingersoll Rand Inc. has a 1-year low of $65.61 and a 1-year high of $106.03.

Ingersoll Rand (NYSE:IR) last released its earnings results on Thursday, May 1st. The industrial products company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.02). Ingersoll Rand had a net margin of 11.30% and a return on equity of 12.33%. The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period last year, the business posted $0.78 earnings per share. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. As a group, sell-side analysts anticipate 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 buyback plan on Thursday, May 1st that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the industrial products company to reacquire up to 3.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Ingersoll Rand Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Thursday, May 15th were paid a dividend of $0.02 per share. The ex-dividend date of this dividend 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 (DPR) is presently 3.96%.

Insider Buying and Selling at Ingersoll Rand

In other Ingersoll Rand news, insider Vicente Reynal sold 38,657 shares of the firm’s 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 transaction, the insider owned 193,186 shares in the company, valued at approximately $16,040,233.58. This trade represents a 16.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Elizabeth Meloy Hepding sold 3,500 shares of the business’s 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 sale, the insider owned 10,986 shares of the company’s stock, valued at $920,407.08. This trade represents a 24.16% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.68% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Stifel Nicolaus cut their target price on Ingersoll Rand from $94.00 to $77.00 and set a “hold” rating on the stock in a research report 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 note on Thursday, April 10th. Wells Fargo & Company upped their target price on Ingersoll Rand from $86.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, July 1st. Finally, Citigroup increased their price target on Ingersoll Rand from $88.00 to $91.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.70.

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.