Ingersoll Rand Inc. (NYSE:IR) Shares Acquired by AIA Group Ltd

Key Points

• AIA Group Ltd increased its stake in Ingersoll Rand Inc. by 22.7% during the first quarter, holding 50,551 shares valued at around $4.04 million after purchasing an additional 9,352 shares.
• Ingersoll Rand's insider Vicente Reynal sold 38,657 shares of the company's stock for approximately $3.21 million, representing a 16.67% decrease in ownership.
• The company announced a $1 billion share repurchase program indicating confidence in its stock's valuation, alongside a recently disclosed $0.02 quarterly dividend to be paid in September.

AIA Group Ltd increased its stake in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 22.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,551 shares of the industrial products company's stock after purchasing an additional 9,352 shares during the quarter. AIA Group Ltd's holdings in Ingersoll Rand were worth $4,046,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Compass Wealth Management LLC boosted its position in shares of Ingersoll Rand by 62.8% during the 1st quarter. Compass Wealth Management LLC now owns 355 shares of the industrial products company's stock worth $28,000 after acquiring an additional 137 shares in the last quarter. Global Wealth Strategies & Associates boosted its position in shares of Ingersoll Rand by 325.0% during the 1st quarter. Global Wealth Strategies & Associates now owns 374 shares of the industrial products company's stock worth $30,000 after acquiring an additional 286 shares in the last quarter. Golden State Wealth Management LLC boosted its position in shares of Ingersoll Rand by 190.9% during the 1st quarter. Golden State Wealth Management LLC now owns 477 shares of the industrial products company's stock worth $38,000 after acquiring an additional 313 shares in the last quarter. Farmers & Merchants Investments Inc. boosted its position in shares of Ingersoll Rand by 54.4% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 488 shares of the industrial products company's stock worth $39,000 after acquiring an additional 172 shares in the last quarter. Finally, Larson Financial Group LLC boosted its position in shares of Ingersoll Rand by 136.4% during the 1st quarter. Larson Financial Group LLC now owns 494 shares of the industrial products company's stock worth $39,000 after acquiring an additional 285 shares in the last quarter. 95.27% of the stock is owned by institutional investors and hedge funds.

Ingersoll Rand Stock Performance

IR traded down $0.52 on Thursday, hitting $80.25. 3,142,164 shares of the company traded hands, compared to its average volume of 2,978,426. The company has a 50 day moving average of $83.53 and a 200-day moving average of $82.05. The company has a quick ratio of 1.63, a current ratio of 2.29 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $31.90 billion, a PE ratio of 62.70, a PEG ratio of 4.46 and a beta of 1.41. Ingersoll Rand Inc. has a 12-month low of $65.61 and a 12-month high of $106.03.

Ingersoll Rand (NYSE:IR - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The industrial products company reported $0.80 EPS for the quarter, meeting the consensus estimate of $0.80. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.85 billion. Ingersoll Rand had a return on equity of 12.12% and a net margin of 7.10%. The firm's revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.83 EPS. Sell-side analysts anticipate that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand declared that its board has initiated a stock buyback program on Thursday, May 1st that allows the company to buyback $1.00 billion in outstanding 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 generally a sign that the company's management believes its stock is undervalued.

Ingersoll Rand Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th will be paid 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 yield of 0.1%. Ingersoll Rand's dividend payout ratio is currently 6.25%.

Insider Buying and Selling

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 in the company, valued at approximately $16,040,233.58. The trade was a 16.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.59% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

IR has been the subject of several analyst reports. Stifel Nicolaus set a $78.00 price objective on Ingersoll Rand and gave the stock a "hold" rating in a research report on Monday, August 4th. Wells Fargo & Company upped their price objective 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 objective on Ingersoll Rand in a research report on Monday, July 14th. Robert W. Baird boosted their target price on Ingersoll Rand from $97.00 to $103.00 and gave the company an "outperform" rating in a report on Monday, August 4th. Finally, Citigroup reissued a "buy" rating and issued a $104.00 target price (up from $91.00) on shares of Ingersoll Rand in a report on Monday, July 14th. 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 MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $97.75.

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.