3,495 Shares in Ingersoll Rand Inc. (NYSE:IR) Acquired by Nwam LLC

Nwam LLC purchased a new position in Ingersoll Rand Inc. (NYSE:IR - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,495 shares of the industrial products company's stock, valued at approximately $280,000.

A number of other hedge funds also recently modified their holdings of IR. Compass Wealth Management LLC boosted its holdings in Ingersoll Rand by 62.8% in the 1st 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. Whittier Trust Co. of Nevada Inc. boosted its holdings in Ingersoll Rand by 8.6% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,825 shares of the industrial products company's stock worth $165,000 after buying an additional 145 shares during the period. Arrow Financial Corp boosted its holdings in Ingersoll Rand by 0.5% in the 4th quarter. Arrow Financial Corp now owns 32,343 shares of the industrial products company's stock worth $2,926,000 after buying an additional 149 shares during the period. GeoWealth Management LLC boosted its holdings in Ingersoll Rand by 10.2% in the 4th quarter. GeoWealth Management LLC now owns 1,726 shares of the industrial products company's stock worth $156,000 after buying an additional 160 shares during the period. Finally, CWM LLC boosted its holdings in Ingersoll Rand by 1.5% in the 1st quarter. CWM LLC now owns 10,655 shares of the industrial products company's stock worth $853,000 after buying an additional 161 shares during the period. Institutional investors own 95.27% of the company's stock.

Ingersoll Rand Trading Down 2.5%

NYSE:IR opened at $85.55 on Friday. Ingersoll Rand Inc. has a one year low of $65.61 and a one year high of $106.03. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.38 and a quick ratio of 1.76. The company's 50-day simple moving average is $83.71 and its 200 day simple moving average is $83.14. The firm has a market capitalization of $34.52 billion, a P/E ratio of 42.35, a PEG ratio of 3.61 and a beta of 1.43.

Ingersoll Rand (NYSE:IR - Get Free Report) last issued its earnings results on Thursday, May 1st. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.02). The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.73 billion. Ingersoll Rand had a return on equity of 12.33% and a net margin of 11.30%. The company's quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.78 EPS. As a group, analysts forecast that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Thursday, May 15th were issued a dividend of $0.02 per share. The ex-dividend date was Thursday, May 15th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Ingersoll Rand's payout ratio is 3.96%.

Ingersoll Rand announced that its Board of Directors has initiated a share buyback program 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 programs are typically an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Melius downgraded 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. Citigroup reaffirmed a "buy" rating and set a $104.00 price objective (up from $91.00) on shares of Ingersoll Rand in a report on Monday, July 14th. Melius Research set a $93.00 price objective on shares of Ingersoll Rand in a report on Monday, July 14th. Wells Fargo & Company lifted their price objective 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. Finally, Barclays lifted their price objective 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. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Ingersoll Rand currently has a consensus rating of "Hold" and an average price target of $99.42.

Insider Activity at Ingersoll Rand

In other Ingersoll Rand news, insider Elizabeth Meloy Hepding sold 3,500 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $83.78, for a total transaction of $293,230.00. Following the completion of the sale, the insider directly owned 10,986 shares of the company's stock, valued at approximately $920,407.08. This represents a 24.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Vicente Reynal sold 38,657 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $83.03, for a total transaction of $3,209,690.71. Following the sale, the insider directly owned 193,186 shares of the company's stock, valued at approximately $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. 0.59% of the stock is 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.

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