Ramirez Asset Management Inc. Has $136,000 Stock Position in Ingersoll Rand Inc. (NYSE:IR)

Ramirez Asset Management Inc. trimmed its position in Ingersoll Rand Inc. (NYSE:IR) by 10.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,700 shares of the industrial products company’s stock after selling 200 shares during the quarter. Ramirez Asset Management Inc.’s holdings in Ingersoll Rand were worth $136,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Compass Wealth Management LLC boosted its holdings in shares of Ingersoll Rand by 62.8% in the first quarter. Compass Wealth Management LLC now owns 355 shares of the industrial products company’s stock worth $28,000 after buying an additional 137 shares during the period. Global Wealth Strategies & Associates boosted its holdings 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 worth $30,000 after buying an additional 286 shares during the period. Golden State Wealth Management LLC boosted its holdings 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 worth $38,000 after buying an additional 313 shares during the period. Farmers & Merchants Investments Inc. boosted its holdings in shares of Ingersoll Rand by 54.4% in the first quarter. Farmers & Merchants Investments Inc. now owns 488 shares of the industrial products company’s stock worth $39,000 after buying an additional 172 shares during the period. Finally, Larson Financial Group LLC boosted its holdings in shares of Ingersoll Rand by 136.4% in the first quarter. Larson Financial Group LLC now owns 494 shares of the industrial products company’s stock worth $39,000 after buying an additional 285 shares during the period. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other 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 completion of the sale, the insider directly owned 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 owned 193,186 shares of the company’s stock, valued at $16,040,233.58. The trade was 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 insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Barclays raised their price target on shares of Ingersoll Rand from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, July 9th. Melius cut shares of Ingersoll Rand from a “buy” rating to a “hold” rating and set a $93.00 price target for the company. in a report on Monday, July 14th. Melius Research set a $93.00 price target on shares of Ingersoll Rand in a report on Monday, July 14th. Stifel Nicolaus raised their price target on shares of Ingersoll Rand from $78.00 to $95.00 and gave the stock a “hold” rating in a report on Monday, July 21st. Finally, Wells Fargo & Company raised their price target on shares of Ingersoll Rand from $86.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, July 1st. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $100.92.

Ingersoll Rand Price Performance

NYSE IR opened at $87.96 on Tuesday. 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 stock has a market capitalization of $35.49 billion, a PE ratio of 43.54, a price-to-earnings-growth ratio of 3.71 and a beta of 1.43. The company has a 50 day moving average price of $84.05 and a two-hundred day moving average price of $82.95. Ingersoll Rand Inc. has a 12-month low of $65.61 and a 12-month high of $106.03.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings results on Thursday, May 1st. The industrial products company reported $0.72 EPS 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 the consensus estimate of $1.73 billion. During the same period in the prior year, the business earned $0.78 EPS. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. As a group, equities analysts predict that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand declared that its Board of Directors has initiated a share 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 buy up to 3.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.

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 $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date of this dividend is Thursday, August 14th. Ingersoll Rand’s payout ratio is 3.96%.

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.