Advisors Preferred LLC Invests $1.15 Million in Ingersoll Rand Inc. (NYSE:IR)

Advisors Preferred LLC purchased a new position in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 14,300 shares of the industrial products company's stock, valued at approximately $1,153,000.

Other large investors have also made changes to their positions in the company. Sowell Financial Services LLC acquired a new position in Ingersoll Rand in the 1st quarter valued at approximately $262,000. Concurrent Investment Advisors LLC raised its holdings in shares of Ingersoll Rand by 14.4% in the 1st quarter. Concurrent Investment Advisors LLC now owns 3,066 shares of the industrial products company's stock worth $245,000 after buying an additional 385 shares in the last quarter. QRG Capital Management Inc. raised its holdings in shares of Ingersoll Rand by 9.4% in the 1st quarter. QRG Capital Management Inc. now owns 7,669 shares of the industrial products company's stock worth $614,000 after buying an additional 660 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Ingersoll Rand by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 45,684,016 shares of the industrial products company's stock worth $4,132,576,000 after buying an additional 446,591 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC raised its holdings in shares of Ingersoll Rand by 19.7% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 11,823 shares of the industrial products company's stock worth $946,000 after buying an additional 1,948 shares in the last quarter. Institutional investors and hedge funds own 95.27% of the company's stock.

Insider Buying and Selling at Ingersoll Rand

In other news, insider Elizabeth Meloy Hepding sold 3,500 shares of the firm's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $83.78, for a total value of $293,230.00. Following the completion of the transaction, the insider owned 10,986 shares in the company, valued at $920,407.08. This trade represents a 24.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 completion of 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 disclosure for this sale can be found here. Company insiders own 0.59% of the company's stock.

Ingersoll Rand Trading Up 1.6%

Ingersoll Rand stock traded up $1.38 during mid-day trading on Friday, hitting $88.27. 2,081,241 shares of the company's stock were exchanged, compared to its average volume of 2,603,943. The firm has a market capitalization of $35.61 billion, a P/E ratio of 43.70, a PEG ratio of 3.65 and a beta of 1.43. Ingersoll Rand Inc. has a fifty-two week low of $65.61 and a fifty-two week high of $106.03. 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 company's 50 day simple moving average is $83.96 and its 200-day simple moving average is $83.03.

Ingersoll Rand (NYSE:IR - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The industrial products company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.02). The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.73 billion. Ingersoll Rand had a return on equity of 12.33% and a net margin of 11.30%. The business's quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.78 EPS. On average, equities analysts anticipate that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand declared that its board has approved a share repurchase program on Thursday, May 1st that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the industrial products company to reacquire up to 3.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its stock is undervalued.

Ingersoll Rand Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Stifel Nicolaus increased their price target on Ingersoll Rand from $78.00 to $95.00 and gave the stock a "hold" rating in a research report on Monday, July 21st. Wells Fargo & Company increased their price target on Ingersoll Rand from $86.00 to $95.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Melius Research set a $93.00 price target on Ingersoll Rand in a research report on Monday, July 14th. Barclays increased their price objective on Ingersoll Rand from $85.00 to $92.00 and gave the company an "overweight" rating in a research report on Wednesday, July 9th. Finally, Citigroup reiterated a "buy" rating and issued a $104.00 price objective (up from $91.00) on shares of Ingersoll Rand in a research report on Monday, July 14th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Ingersoll Rand presently has an average rating of "Hold" and an average target price of $100.92.

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.