Arcadia Investment Management Corp MI Sells 5,986 Shares of Ingersoll Rand Inc. (NYSE:IR)

Arcadia Investment Management Corp MI lessened its holdings in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 13.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 38,755 shares of the industrial products company's stock after selling 5,986 shares during the quarter. Arcadia Investment Management Corp MI's holdings in Ingersoll Rand were worth $3,102,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of IR. Compass Wealth Management LLC lifted its holdings in shares of Ingersoll Rand by 62.8% in the first quarter. Compass Wealth Management LLC now owns 355 shares of the industrial products company's stock valued at $28,000 after buying an additional 137 shares during the period. Global Wealth Strategies & Associates lifted its holdings in shares of Ingersoll Rand by 325.0% in the first quarter. Global Wealth Strategies & Associates now owns 374 shares of the industrial products company's stock valued at $30,000 after buying an additional 286 shares during the period. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Ingersoll Rand in the fourth quarter valued at $36,000. OFI Invest Asset Management acquired a new stake in shares of Ingersoll Rand in the fourth quarter valued at $38,000. Finally, Golden State Wealth Management LLC lifted its holdings in shares of Ingersoll Rand by 190.9% in the first quarter. Golden State Wealth Management LLC now owns 477 shares of the industrial products company's stock valued at $38,000 after buying an additional 313 shares during the period. Institutional investors and hedge funds own 95.27% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on IR shares. Citigroup upped their price objective on Ingersoll Rand from $88.00 to $91.00 and gave the company a "buy" rating in a report on Monday, May 5th. Wells Fargo & Company boosted their target price on Ingersoll Rand from $86.00 to $95.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Barclays boosted their target price on Ingersoll Rand from $85.00 to $92.00 and gave the stock an "overweight" rating in a research report on Wednesday. Finally, Stifel Nicolaus cut their target price on Ingersoll Rand from $94.00 to $77.00 and set a "hold" rating on the stock in a research report on Monday, April 14th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $99.40.

Insider Activity

In other Ingersoll Rand news, insider Vicente Reynal sold 38,657 shares of the company's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $83.03, for a total value of $3,209,690.71. Following the transaction, the insider directly owned 193,186 shares of the company's stock, valued at $16,040,233.58. This represents a 16.67% decrease in their position. The sale 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 the company'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 sale, the insider owned 10,986 shares of the company's stock, valued at approximately $920,407.08. This trade represents a 24.16% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.59% of the company's stock.

Ingersoll Rand Stock Up 0.4%

NYSE:IR traded up $0.32 during trading hours on Friday, hitting $89.01. 2,286,802 shares of the company's stock traded hands, compared to its average volume of 2,589,235. The firm has a market cap of $35.91 billion, a P/E ratio of 44.06, a P/E/G ratio of 3.74 and a beta of 1.43. Ingersoll Rand Inc. has a twelve month low of $65.61 and a twelve month high of $106.03. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.76 and a current ratio of 2.38. The stock's fifty day moving average price is $82.83 and its two-hundred day moving average price is $83.35.

Ingersoll Rand (NYSE:IR - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The industrial products company reported $0.72 earnings per share 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 net margin of 11.30% and a return on equity of 12.33%. The firm's quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.78 earnings per share. On average, research analysts expect that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Thursday, May 15th were given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.09%. The ex-dividend date of this dividend was Thursday, May 15th. Ingersoll Rand's payout ratio is currently 3.96%.

Ingersoll Rand announced that its board has initiated a stock repurchase program on Thursday, May 1st that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the industrial products company to buy up to 3.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board believes its stock is undervalued.

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.