Ingersoll Rand Inc. (NYSE:IR) Shares Purchased by TD Asset Management Inc

TD Asset Management Inc boosted its stake in Ingersoll Rand Inc. (NYSE:IR) by 5.1% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 959,036 shares of the industrial products company’s stock after buying an additional 46,249 shares during the quarter. TD Asset Management Inc owned approximately 0.24% of Ingersoll Rand worth $76,752,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Capital International Investors lifted its stake 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 valued at $3,317,537,000 after buying an additional 1,606,363 shares during the period. FMR LLC raised its holdings in Ingersoll Rand by 8.2% in the 4th quarter. FMR LLC now owns 17,472,317 shares of the industrial products company’s stock valued at $1,580,546,000 after acquiring an additional 1,320,223 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Ingersoll Rand by 7,137.0% during the 1st quarter. GAMMA Investing LLC now owns 1,307,370 shares of the industrial products company’s stock worth $1,046,290,000 after purchasing an additional 1,289,305 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Ingersoll Rand by 5.9% during the fourth quarter. Franklin Resources Inc. now owns 12,277,177 shares of the industrial products company’s stock worth $1,110,593,000 after purchasing an additional 679,856 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of Ingersoll Rand by 18.2% in the fourth quarter. Northern Trust Corp now owns 4,042,854 shares of the industrial products company’s stock valued at $365,717,000 after purchasing an additional 622,246 shares during the period. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on IR shares. Citigroup reiterated a “buy” rating and set a $104.00 target price (up from $91.00) on shares of Ingersoll Rand in a research report on Monday, July 14th. Melius cut shares of Ingersoll Rand from a “buy” rating to a “hold” rating and set a $93.00 target price on the stock. in a research report on Monday, July 14th. Barclays upped their price target on shares of Ingersoll Rand from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 9th. Wells Fargo & Company lifted their price target on shares of Ingersoll Rand from $86.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, July 1st. Finally, Stifel Nicolaus boosted their price objective on shares of Ingersoll Rand from $78.00 to $95.00 and gave the company a “hold” rating in a research note on Monday, July 21st. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $100.92.

Insiders Place Their Bets

In other Ingersoll Rand news, 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 value of $293,230.00. Following the transaction, the insider owned 10,986 shares in the company, valued at $920,407.08. The trade was a 24.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Vicente Reynal sold 38,657 shares of the firm’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 of the company’s stock, valued at $16,040,233.58. This represents a 16.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.

Ingersoll Rand Stock Up 1.6%

Shares of Ingersoll Rand stock opened at $88.27 on Monday. Ingersoll Rand Inc. has a twelve month low of $65.61 and a twelve month high of $106.03. The stock has a market cap of $35.61 billion, a price-to-earnings ratio of 43.70, a price-to-earnings-growth ratio of 3.71 and a beta of 1.43. 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 fifty day moving average price of $83.96 and a 200 day moving average price of $82.95.

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 the consensus estimate of $0.74 by ($0.02). The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Ingersoll Rand had a return on equity of 12.33% and a net margin of 11.30%. Ingersoll Rand’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.78 EPS. Equities research analysts forecast that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th will be paid a dividend of $0.02 per share. The ex-dividend date is Thursday, August 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. Ingersoll Rand’s dividend payout ratio is currently 3.96%.

Ingersoll Rand declared that its Board of Directors has approved a share repurchase plan on Thursday, May 1st that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the industrial products company to reacquire up to 3.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

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.