Colonial River Investments LLC Takes Position in Ingersoll Rand Inc. (NYSE:IR)

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

A number of other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Ingersoll Rand during the 4th quarter valued at approximately $429,591,000. Capital International Investors boosted its stake in Ingersoll Rand by 4.6% during 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 acquiring an additional 1,606,363 shares during the last quarter. FMR LLC grew its holdings in Ingersoll Rand by 8.2% during the 4th 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 in the last quarter. GAMMA Investing LLC increased its position in shares of 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 worth $1,046,290,000 after purchasing an additional 1,289,305 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Ingersoll Rand by 5.9% in the 4th quarter. Franklin Resources Inc. now owns 12,277,177 shares of the industrial products company's stock worth $1,110,593,000 after purchasing an additional 679,856 shares during the last quarter. Institutional investors and hedge funds own 95.27% of the company's stock.

Ingersoll Rand Trading Down 0.8%

Shares of NYSE IR opened at $84.30 on Friday. Ingersoll Rand Inc. has a 12-month low of $65.61 and a 12-month high of $106.03. The company has a market cap of $34.01 billion, a price-to-earnings ratio of 41.73, a price-to-earnings-growth ratio of 3.35 and a beta of 1.44. 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's 50 day simple moving average is $80.34 and its 200 day simple moving average is $83.87.

Ingersoll Rand (NYSE:IR - Get Free Report) last posted its earnings results on Thursday, May 1st. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.74 by ($0.02). Ingersoll Rand had a net margin of 11.30% and a return on equity of 12.33%. The company 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. The business's quarterly revenue was up 2.8% compared to the same quarter last year. Equities research analysts expect that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand declared that its board has initiated a share repurchase program on Thursday, May 1st that permits the company to buyback $1.00 billion in outstanding 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 usually an indication that the company's leadership believes its shares are undervalued.

Ingersoll Rand Dividend Announcement

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

Insider Activity at Ingersoll Rand

In other Ingersoll Rand news, insider Vicente Reynal sold 38,657 shares of the 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 now directly 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Elizabeth Meloy Hepding sold 3,500 shares of Ingersoll Rand stock in a transaction 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 transaction, the insider now owns 10,986 shares in the company, valued at approximately $920,407.08. This trade represents a 24.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.59% of the company's stock.

Analyst Upgrades and Downgrades

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

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.

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