Ballentine Partners LLC Grows Position in Ingersoll Rand Inc. (NYSE:IR)

Ballentine Partners LLC grew its position in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 35.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,783 shares of the industrial products company's stock after acquiring an additional 4,609 shares during the quarter. Ballentine Partners LLC's holdings in Ingersoll Rand were worth $1,423,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of IR. Compass Wealth Management LLC raised its position in Ingersoll Rand by 62.8% in the 1st 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 last quarter. Global Wealth Strategies & Associates raised its position in Ingersoll Rand by 325.0% in the 1st 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 last quarter. Murphy & Mullick Capital Management Corp purchased a new stake in Ingersoll Rand in the 4th quarter valued at $36,000. Golden State Wealth Management LLC raised its position in Ingersoll Rand by 190.9% in the 1st 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 last quarter. Finally, Farmers & Merchants Investments Inc. raised its position in Ingersoll Rand by 54.4% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 488 shares of the industrial products company's stock valued at $39,000 after buying an additional 172 shares during the last quarter. Institutional investors own 95.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Barclays increased their price target on Ingersoll Rand from $85.00 to $92.00 and gave the company an "overweight" rating in a research report on Wednesday. Citigroup upped their price objective on Ingersoll Rand from $88.00 to $91.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Stifel Nicolaus reduced their price objective 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. Finally, Wells Fargo & Company upped their price objective on Ingersoll Rand from $86.00 to $95.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Ingersoll Rand presently has a consensus rating of "Moderate Buy" and a consensus price target of $99.40.

Ingersoll Rand Stock Performance

Shares of IR stock traded up $0.32 on Friday, hitting $89.01. 2,286,802 shares of the stock were exchanged, compared to its average volume of 2,588,358. The company has a current ratio of 2.38, a quick ratio of 1.76 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $35.91 billion, a PE ratio of 44.06, a P/E/G ratio of 3.76 and a beta of 1.43. Ingersoll Rand Inc. has a one year low of $65.61 and a one year high of $106.03. The firm's 50 day moving average is $82.83 and its two-hundred day moving average is $83.29.

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 firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.73 billion. Ingersoll Rand had a return on equity of 12.33% and a net margin of 11.30%. The firm's revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 EPS. Sell-side analysts expect that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

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

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

Insider Transactions at Ingersoll Rand

In related news, insider Elizabeth Meloy Hepding sold 3,500 shares of the 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 sale, the insider owned 10,986 shares of the company's stock, valued at approximately $920,407.08. This represents a 24.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible 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 sale, the insider directly owned 193,186 shares in the company, valued at $16,040,233.58. This trade represents a 16.67% 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 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.