Ingersoll Rand Inc. (NYSE:IR) Stake Boosted by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. lifted its holdings in Ingersoll Rand Inc. (NYSE:IR) by 40.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,562 shares of the industrial products company’s stock after purchasing 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 reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Apollon Wealth Management LLC increased its stake in Ingersoll Rand by 13.7% in the first quarter. Apollon Wealth Management LLC now owns 7,522 shares of the industrial products company’s stock valued at $602,000 after acquiring an additional 906 shares during the period. Edgestream Partners L.P. increased its holdings in shares of Ingersoll Rand by 201.1% in the first quarter. Edgestream Partners L.P. now owns 73,757 shares of the industrial products company’s stock valued at $5,903,000 after purchasing an additional 49,265 shares in the last quarter. Marks Group Wealth Management Inc grew its holdings in Ingersoll Rand by 10.2% during the 1st quarter. Marks Group Wealth Management Inc now owns 98,135 shares of the industrial products company’s stock worth $7,854,000 after acquiring an additional 9,067 shares during the period. CWM LLC raised its position in shares of Ingersoll Rand by 1.5% during the 1st quarter. CWM LLC now owns 10,655 shares of the industrial products company’s stock valued at $853,000 after acquiring an additional 161 shares during the last quarter. Finally, TruNorth Capital Management LLC grew its holdings in shares of Ingersoll Rand by 6,302.4% in the 1st quarter. TruNorth Capital Management LLC now owns 2,689 shares of the industrial products company’s stock valued at $215,000 after buying an additional 2,647 shares during the period. Institutional investors and hedge funds own 95.27% of the company’s stock.

Ingersoll Rand Price Performance

Shares of NYSE IR opened at $87.73 on Friday. The stock 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. 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 stock has a 50 day moving average of $83.59 and a two-hundred day moving average of $83.22. Ingersoll Rand Inc. has a twelve month low of $65.61 and a twelve month high of $106.03.

Ingersoll Rand (NYSE:IR) last posted its earnings results on Thursday, May 1st. The industrial products company reported $0.72 earnings per share (EPS) 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%. Ingersoll Rand’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.78 EPS. On average, research analysts forecast that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Thursday, May 15th were given a $0.02 dividend. The ex-dividend date was Thursday, May 15th. 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 announced that its Board of Directors has approved a share repurchase plan on Thursday, May 1st that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the industrial products company to repurchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on IR shares. Citigroup reissued a “buy” rating and issued a $104.00 price target (up from $91.00) on shares of Ingersoll Rand in a report on Monday. Melius lowered shares of Ingersoll Rand from a “buy” rating to a “hold” rating and set a $93.00 price target on the stock. in a research report on Monday. Wells Fargo & Company raised their target price on shares of Ingersoll Rand from $86.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, July 1st. Stifel Nicolaus dropped their price target on shares of Ingersoll Rand from $94.00 to $77.00 and set a “hold” rating for the company in a research note on Monday, April 14th. Finally, Barclays lifted their target price on shares of Ingersoll Rand from $85.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 9th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $99.42.

Insider Activity

In related news, insider Vicente Reynal sold 38,657 shares of the firm’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 directly owned 193,186 shares of the company’s stock, valued at $16,040,233.58. This trade represents a 16.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Elizabeth Meloy Hepding sold 3,500 shares of Ingersoll Rand stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $83.78, for a total value of $293,230.00. Following the sale, the insider directly owned 10,986 shares of the company’s stock, valued at approximately $920,407.08. This trade represents a 24.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.59% of the stock is currently owned by insiders.

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.