Axxcess Wealth Management LLC Acquires New Holdings in Ingersoll Rand Inc. (NYSE:IR)

Axxcess Wealth Management LLC purchased a new position in Ingersoll Rand Inc. (NYSE:IR - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,424 shares of the industrial products company's stock, valued at approximately $274,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sowell Financial Services LLC acquired a new stake in shares of Ingersoll Rand during the 1st quarter worth about $262,000. Concurrent Investment Advisors LLC boosted its stake in Ingersoll Rand by 14.4% during the 1st quarter. Concurrent Investment Advisors LLC now owns 3,066 shares of the industrial products company's stock worth $245,000 after purchasing an additional 385 shares during the period. QRG Capital Management Inc. increased its position in 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 valued at $614,000 after acquiring an additional 660 shares during the period. Vanguard Group Inc. grew its stake 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 valued at $4,132,576,000 after purchasing an additional 446,591 shares during the last quarter. Finally, Magnetar Financial LLC acquired a new position in Ingersoll Rand in the 4th quarter valued at $4,788,000. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Citigroup boosted their target price on Ingersoll Rand from $91.00 to $104.00 and gave the stock a "buy" rating in a research report on Monday. Wells Fargo & Company boosted 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. Barclays increased their target price on shares of Ingersoll Rand from $85.00 to $92.00 and gave the company an "overweight" rating in a report on Wednesday, July 9th. Stifel Nicolaus decreased their price target on Ingersoll Rand from $94.00 to $77.00 and set a "hold" rating on the stock in a research note on Monday, April 14th. Finally, Melius Research set a $93.00 price objective on Ingersoll Rand in a research note on Monday. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Ingersoll Rand currently has an average rating of "Moderate Buy" and an average price target of $99.42.

Ingersoll Rand Price Performance

Shares of NYSE:IR traded down $1.33 during trading on Monday, reaching $87.69. The company had a trading volume of 2,635,483 shares, compared to its average volume of 2,894,636. The firm's fifty day moving average is $82.83 and its 200 day moving average is $83.22. 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 firm has a market capitalization of $35.38 billion, a PE ratio of 43.41, a price-to-earnings-growth ratio of 3.76 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.

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

Ingersoll Rand Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 15th were given a $0.02 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. Ingersoll Rand's dividend payout ratio (DPR) is 3.96%.

Ingersoll Rand announced that its board has authorized a share buyback program on Thursday, May 1st that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the industrial products company to repurchase up to 3.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

Insider Activity

In other Ingersoll Rand news, insider Elizabeth Meloy Hepding sold 3,500 shares of the business's stock in a transaction 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 sale, the insider directly owned 10,986 shares of the company's stock, valued at $920,407.08. The trade was a 24.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Vicente Reynal sold 38,657 shares of the 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 completion of 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 currently owned by insiders.

Ingersoll Rand 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.