Whittier Trust Co. of Nevada Inc. Purchases 737 Shares of Ingersoll Rand Inc. (NYSE:IR)

Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 40.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,562 shares of the industrial products company’s stock after buying an additional 737 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Ingersoll Rand were worth $205,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Sowell Financial Services LLC bought a new position in Ingersoll Rand during the first quarter worth $262,000. Concurrent Investment Advisors LLC raised its stake in Ingersoll Rand by 14.4% in the first quarter. Concurrent Investment Advisors LLC now owns 3,066 shares of the industrial products company’s stock valued at $245,000 after purchasing an additional 385 shares in the last quarter. QRG Capital Management Inc. grew its position in Ingersoll Rand by 9.4% in the first quarter. QRG Capital Management Inc. now owns 7,669 shares of the industrial products company’s stock valued at $614,000 after acquiring an additional 660 shares during the last quarter. Vanguard Group Inc. grew its position in Ingersoll Rand by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 45,684,016 shares of the industrial products company’s stock valued at $4,132,576,000 after acquiring an additional 446,591 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC grew its holdings in shares of Ingersoll Rand by 19.7% during the first quarter. Dynamic Advisor Solutions LLC now owns 11,823 shares of the industrial products company’s stock worth $946,000 after purchasing an additional 1,948 shares during the last quarter. 95.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Melius cut Ingersoll Rand from a “buy” rating to a “hold” rating and set a $93.00 price target on the stock. in a report on Monday. Barclays upped their price target on Ingersoll Rand from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, July 9th. Melius Research set a $93.00 price objective on Ingersoll Rand in a research note on Monday. Citigroup reaffirmed a “buy” rating and set a $104.00 price target (up previously from $91.00) on shares of Ingersoll Rand in a research report on Monday. Finally, Stifel Nicolaus dropped 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. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $99.42.

Insiders Place Their Bets

In other news, insider Vicente Reynal sold 38,657 shares of the company’s stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $83.03, for a total value of $3,209,690.71. Following the sale, the insider owned 193,186 shares in the company, valued at approximately $16,040,233.58. This represents a 16.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Elizabeth Meloy Hepding sold 3,500 shares of the firm’s stock in a transaction dated 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 transaction, the insider directly owned 10,986 shares in the company, valued at $920,407.08. This represents a 24.16% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.59% of the company’s stock.

Ingersoll Rand Stock Performance

NYSE IR opened at $87.73 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. Ingersoll Rand Inc. has a 52-week low of $65.61 and a 52-week high of $106.03. The business’s 50-day moving average price is $83.59 and its 200 day moving average price is $83.22. The firm has a market cap of $35.40 billion, a P/E ratio of 43.43, a P/E/G ratio of 3.63 and a beta of 1.43.

Ingersoll Rand (NYSE:IR) last announced 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). 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 analysts’ expectations of $1.73 billion. During the same quarter in the prior year, the business earned $0.78 EPS. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, equities research analysts expect that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand Announces Dividend

The firm also recently declared 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 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 3.96%.

Ingersoll Rand announced that its Board of Directors has initiated a share repurchase 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 buy up to 3.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

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.