Charles Schwab Investment Management Inc. Grows Position in Ingersoll Rand Inc. (NYSE:IR)

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Ingersoll Rand Inc. by 2.5% during the first quarter, now owning approximately 2.33 million shares valued at $186.5 million.
• Ingersoll Rand announced a quarterly dividend of $0.02 per share, with a yield of 0.1%, set to be paid on September 4th.
• Analyst target prices for Ingersoll Rand vary, with Barclays reducing theirs to $91 while Robert W. Baird increased it to $103, reflecting mixed sentiment among analysts.

Charles Schwab Investment Management Inc. increased its holdings in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 2.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,330,413 shares of the industrial products company's stock after acquiring an additional 56,643 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.58% of Ingersoll Rand worth $186,503,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of IR. Capital International Investors lifted its position in 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 worth $3,317,537,000 after buying an additional 1,606,363 shares in the last quarter. GAMMA Investing LLC grew its stake in Ingersoll Rand by 7,137.0% in the 1st 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 grew its stake in Ingersoll Rand by 18.2% in the 4th 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. Vanguard Group Inc. grew its stake in Ingersoll Rand by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 46,269,471 shares of the industrial products company's stock valued at $3,702,946,000 after buying an additional 585,455 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Ingersoll Rand in the 4th quarter worth $45,004,000. Institutional investors own 95.27% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Melius cut shares of Ingersoll Rand from a "buy" rating to a "hold" rating and set a $93.00 price target for the company. in a research note on Monday, July 14th. Wells Fargo & Company raised their price target 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. Robert W. Baird raised their price target on shares of Ingersoll Rand from $97.00 to $103.00 and gave the stock an "outperform" rating in a report on Monday, August 4th. Citigroup reiterated a "buy" rating and issued a $104.00 price objective (up previously from $91.00) on shares of Ingersoll Rand in a research note on Monday, July 14th. Finally, Melius Research set a $93.00 price target on shares of Ingersoll Rand in a research note on Monday, July 14th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Ingersoll Rand presently has an average rating of "Hold" and an average target price of $98.75.

Ingersoll Rand Price Performance

Shares of NYSE IR traded up $1.95 during mid-day trading on Tuesday, reaching $78.40. The company had a trading volume of 2,759,874 shares, compared to its average volume of 3,514,269. The stock has a market cap of $31.16 billion, a PE ratio of 61.25, a P/E/G ratio of 4.35 and a beta of 1.41. Ingersoll Rand Inc. has a 1-year low of $65.61 and a 1-year high of $106.03. The company has a current ratio of 2.29, a quick ratio of 1.63 and a debt-to-equity ratio of 0.47. The company has a 50-day moving average price of $83.63 and a two-hundred day moving average price of $82.09.

Ingersoll Rand (NYSE:IR - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.80. The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.85 billion. Ingersoll Rand had a return on equity of 12.12% and a net margin of 7.10%. The business's revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.83 EPS. On average, equities analysts anticipate that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

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 paid a $0.02 dividend. The ex-dividend date of this dividend 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 6.25%.

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

Insider Buying and Selling at Ingersoll Rand

In related news, insider Elizabeth Meloy Hepding sold 3,500 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The shares were 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 of the company's stock, valued at approximately $920,407.08. This trade represents a 24.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Vicente Reynal sold 38,657 shares of Ingersoll Rand stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $83.03, for a total transaction of $3,209,690.71. Following the completion of the transaction, the insider owned 193,186 shares in the company, valued at approximately $16,040,233.58. The trade was a 16.67% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.68% of the company's stock.

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.