Asset Management One Co. Ltd. Buys 10,335 Shares of Ingersoll Rand Inc. (NYSE:IR)

Asset Management One Co. Ltd. grew its stake in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 5.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 207,925 shares of the industrial products company's stock after purchasing an additional 10,335 shares during the quarter. Asset Management One Co. Ltd. owned approximately 0.05% of Ingersoll Rand worth $16,640,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Ingersoll Rand by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 45,684,016 shares of the industrial products company's stock worth $4,132,576,000 after acquiring an additional 446,591 shares during the period. Capital International Investors lifted its stake in Ingersoll Rand by 4.6% in the fourth quarter. Capital International Investors now owns 36,673,865 shares of the industrial products company's stock worth $3,317,537,000 after acquiring an additional 1,606,363 shares during the period. Capital World Investors lifted its stake in Ingersoll Rand by 1.0% in the fourth quarter. Capital World Investors now owns 20,088,857 shares of the industrial products company's stock worth $1,817,238,000 after acquiring an additional 197,711 shares during the period. JPMorgan Chase & Co. lifted its stake in Ingersoll Rand by 3.6% in the fourth quarter. JPMorgan Chase & Co. now owns 18,878,280 shares of the industrial products company's stock worth $1,707,729,000 after acquiring an additional 649,102 shares during the period. Finally, FMR LLC lifted its stake in Ingersoll Rand by 8.2% in the fourth quarter. FMR LLC now owns 17,472,317 shares of the industrial products company's stock worth $1,580,546,000 after acquiring an additional 1,320,223 shares during the period. Hedge funds and other institutional investors own 95.27% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on IR shares. Stifel Nicolaus dropped their price target on Ingersoll Rand from $94.00 to $77.00 and set a "hold" rating for the company in a research note on Monday, April 14th. Citigroup raised their price objective on Ingersoll Rand from $88.00 to $91.00 and gave the company a "buy" rating in a research report on Monday, May 5th. Wells Fargo & Company raised their price objective on Ingersoll Rand from $80.00 to $86.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Finally, Barclays lowered their price objective on Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $97.80.

Ingersoll Rand Stock Down 0.8%

Shares of IR traded down $0.64 during trading hours on Friday, hitting $84.30. The company had a trading volume of 2,878,106 shares, compared to its average volume of 2,547,886. The firm has a fifty day moving average price of $80.10 and a 200-day moving average price of $84.12. 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 has a market capitalization of $34.01 billion, a price-to-earnings ratio of 41.73, a P/E/G ratio of 3.38 and a beta of 1.44. Ingersoll Rand Inc. has a 52-week low of $65.61 and a 52-week high of $106.03.

Ingersoll Rand (NYSE:IR - Get Free Report) last released 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). Ingersoll Rand had a return on equity of 12.33% and a net margin of 11.30%. The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the business posted $0.78 earnings per share. Ingersoll Rand's quarterly revenue was up 2.8% compared to the same quarter last year. On average, equities research analysts forecast that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

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

Ingersoll Rand declared that its Board of Directors has initiated a share buyback plan on Thursday, May 1st that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the industrial products company to purchase up to 3.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling

In other Ingersoll Rand news, insider Elizabeth Meloy Hepding sold 3,500 shares of the business's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $83.78, for a total transaction of $293,230.00. Following the completion of the sale, the insider now directly owns 10,986 shares in the company, valued at $920,407.08. The trade was a 24.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Vicente Reynal sold 38,657 shares of the business'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 value of $3,209,690.71. Following the transaction, the insider now owns 193,186 shares of the company's stock, valued at approximately $16,040,233.58. This trade 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 corporate 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.