Banque Cantonale Vaudoise Makes New $1.48 Million Investment in Ingersoll Rand Inc. (NYSE:IR)

Key Points

• Banque Cantonale Vaudoise has invested approximately $1.48 million in Ingersoll Rand Inc., acquiring 18,477 shares during the first quarter.
• Ingersoll Rand's earnings report revealed a quarterly earnings of $0.72 per share, missing the consensus estimate of $0.74, while revenue reached $1.72 billion.
• The company's Board of Directors has authorized a $1 billion stock repurchase plan, indicating a belief that the company’s shares are undervalued.

Banque Cantonale Vaudoise bought a new stake in Ingersoll Rand Inc. (NYSE:IR - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 18,477 shares of the industrial products company's stock, valued at approximately $1,479,000.

Several other institutional investors and hedge funds also recently made changes to their positions in IR. Capital International Investors boosted its stake in shares of Ingersoll Rand by 4.6% in the 4th quarter. Capital International Investors now owns 36,673,865 shares of the industrial products company's stock valued at $3,317,537,000 after purchasing an additional 1,606,363 shares in the last quarter. FMR LLC raised its holdings in shares of Ingersoll Rand by 8.2% in the fourth quarter. FMR LLC now owns 17,472,317 shares of the industrial products company's stock valued at $1,580,546,000 after buying an additional 1,320,223 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Ingersoll Rand by 7,137.0% in the first quarter. GAMMA Investing LLC now owns 1,307,370 shares of the industrial products company's stock valued at $1,046,290,000 after buying an additional 1,289,305 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Ingersoll Rand by 18.2% in the fourth quarter. Northern Trust Corp now owns 4,042,854 shares of the industrial products company's stock valued at $365,717,000 after buying an additional 622,246 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Ingersoll Rand in the fourth quarter valued at about $45,004,000. Institutional investors and hedge funds own 95.27% of the company's stock.

Insider Activity at Ingersoll Rand

In related news, insider Elizabeth Meloy Hepding sold 3,500 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $83.78, for a total value of $293,230.00. Following the completion of the transaction, the insider directly owned 10,986 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Also, insider Vicente Reynal sold 38,657 shares of the company'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 value of $3,209,690.71. Following the transaction, the insider directly owned 193,186 shares of the company's stock, valued at approximately $16,040,233.58. This trade represents a 16.67% decrease in their position. The disclosure for this sale can be found here. 0.59% of the stock is currently owned by insiders.

Ingersoll Rand Trading Down 11.3%

Shares of IR stock traded down $9.54 on Friday, reaching $75.09. The company had a trading volume of 12,246,097 shares, compared to its average volume of 2,696,997. 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 stock has a market cap of $30.30 billion, a PE ratio of 58.66, a PEG ratio of 3.55 and a beta of 1.41. The company has a 50-day moving average of $84.29 and a 200-day moving average of $82.98. 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 issued its quarterly earnings data on Thursday, July 31st. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.80. Ingersoll Rand had a return on equity of 12.06% and a net margin of 7.10%. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same period in the previous year, the firm earned $0.83 EPS. Ingersoll Rand's quarterly revenue was up 4.6% compared to the same quarter last year. On average, equities analysts forecast that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand declared that its board has authorized a share repurchase 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 buy up to 3.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Ingersoll Rand Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 14th will be given a $0.02 dividend. The ex-dividend date is Thursday, August 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. Ingersoll Rand's payout ratio is currently 3.96%.

Wall Street Analyst Weigh In

IR has been the subject of a number of research analyst reports. Melius Research set a $93.00 price target on Ingersoll Rand in a report on Monday, July 14th. Citigroup reaffirmed a "buy" rating and issued a $104.00 price target (up from $91.00) on shares of Ingersoll Rand in a report on Monday, July 14th. Wells Fargo & Company lifted their price target on Ingersoll Rand from $86.00 to $95.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Melius cut Ingersoll Rand from a "buy" rating to a "hold" rating and set a $93.00 price target for the company. in a report on Monday, July 14th. Finally, Stifel Nicolaus lifted their price target on Ingersoll Rand from $78.00 to $95.00 and gave the company a "hold" rating in a report on Monday, July 21st. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $100.92.

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.