16,457 Shares in Ingersoll Rand Inc. (NYSE:IR) Acquired by Entropy Technologies LP

Key Points

• Entropy Technologies LP has acquired 16,457 shares of Ingersoll Rand Inc. for approximately $1.32 million, indicating growing interest in the company among hedge funds.
• Several brokerages have recently increased their price targets for Ingersoll Rand, with Wells Fargo raising it to $95.00 and Robert W. Baird to $103.00, while maintaining a broadly positive outlook with a mix of ratings.
• Ingersoll Rand announced a quarterly dividend of $0.02 per share and has authorized a $1.00 billion stock repurchase plan, which suggests confidence in the company's valuation.

Entropy Technologies LP bought a new stake in Ingersoll Rand Inc. (NYSE:IR - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 16,457 shares of the industrial products company's stock, valued at approximately $1,317,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sowell Financial Services LLC bought a new position in Ingersoll Rand in the first quarter valued at about $262,000. Concurrent Investment Advisors LLC boosted its holdings 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 acquiring an additional 385 shares during the last quarter. QRG Capital Management Inc. boosted its holdings 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. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Ingersoll Rand by 14.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 726,564 shares of the industrial products company's stock valued at $58,147,000 after acquiring an additional 91,777 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC boosted its holdings in Ingersoll Rand by 19.7% in the first quarter. Dynamic Advisor Solutions LLC now owns 11,823 shares of the industrial products company's stock valued at $946,000 after acquiring an additional 1,948 shares during the last quarter. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on IR. Robert W. Baird raised their target price on Ingersoll Rand from $97.00 to $103.00 and gave the stock an "outperform" rating in a report on Monday, August 4th. Melius cut Ingersoll Rand from a "buy" rating to a "hold" rating and set a $93.00 target price on the stock. in a report on Monday, July 14th. Citigroup restated a "buy" rating and set a $104.00 target price (up previously from $91.00) on shares of Ingersoll Rand in a report on Monday, July 14th. Morgan Stanley reduced their target price on Ingersoll Rand from $88.00 to $85.00 and set an "equal weight" rating on the stock in a report on Wednesday. Finally, Barclays reduced their target price on Ingersoll Rand from $92.00 to $91.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, Ingersoll Rand presently has an average rating of "Hold" and a consensus target price of $97.75.

Insider Buying and Selling at Ingersoll Rand

In other Ingersoll Rand news, insider Vicente Reynal sold 38,657 shares of the business's stock in a transaction that occurred 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 transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.59% of the stock is owned by company insiders.

Ingersoll Rand Stock Down 2.4%

Ingersoll Rand stock traded down $1.89 during midday trading on Friday, reaching $78.31. The stock had a trading volume of 2,917,999 shares, compared to its average volume of 3,608,425. The firm's fifty day simple moving average is $83.40 and its 200-day simple moving average is $81.89. Ingersoll Rand Inc. has a 1-year low of $65.61 and a 1-year high of $106.03. The stock has a market capitalization of $31.12 billion, a P/E ratio of 61.18, a price-to-earnings-growth ratio of 4.53 and a beta of 1.41. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.63 and a current ratio of 2.29.

Ingersoll Rand (NYSE:IR - Get Free Report) last announced its earnings results on Thursday, July 31st. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.80. Ingersoll Rand had a return on equity of 12.12% and a net margin of 7.10%. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same quarter last year, the firm earned $0.83 EPS. Ingersoll Rand's revenue for the quarter was up 4.6% compared to the same quarter last year. As a group, analysts expect that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. Ingersoll Rand's payout ratio is 6.25%.

Ingersoll Rand declared that its board has authorized a stock 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 reacquire up to 3.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's leadership believes its shares are undervalued.

Ingersoll Rand 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.