Harbor Investment Advisory LLC Boosts Stock Position in Ingersoll Rand Inc. (NYSE:IR)

Harbor Investment Advisory LLC raised its stake in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 149,680.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,489 shares of the industrial products company's stock after purchasing an additional 7,484 shares during the quarter. Harbor Investment Advisory LLC's holdings in Ingersoll Rand were worth $599,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of IR. Global Wealth Strategies & Associates lifted 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 acquiring an additional 286 shares in the last quarter. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Ingersoll Rand in the 4th quarter worth $36,000. OFI Invest Asset Management purchased a new stake in Ingersoll Rand in the fourth quarter worth about $38,000. Lee Danner & Bass Inc. bought a new stake in Ingersoll Rand during the 4th quarter worth approximately $42,000. Finally, Ancora Advisors LLC boosted its position in shares of Ingersoll Rand by 144.8% in the fourth quarter. Ancora Advisors LLC now owns 497 shares of the industrial products company's stock worth $45,000 after purchasing an additional 294 shares during the period. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Ingersoll Rand Stock Up 1.6%

Shares of IR traded up $1.33 during mid-day trading on Friday, hitting $83.20. 575,598 shares of the company traded hands, compared to its average volume of 2,580,814. The business has a 50 day moving average of $77.12 and a 200 day moving average of $86.33. The company has a market capitalization of $33.57 billion, a PE ratio of 40.39, a price-to-earnings-growth ratio of 3.50 and a beta of 1.42. The company has a quick ratio of 1.71, a current ratio of 2.29 and a debt-to-equity ratio of 0.46. Ingersoll Rand Inc. has a 1-year low of $65.61 and a 1-year high of $106.03.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.74 by ($0.02). The company had revenue of $1.72 billion during the quarter, compared to analysts' expectations of $1.73 billion. Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. During the same period in the prior year, the business posted $0.78 EPS. The company's quarterly revenue was up 2.8% on a year-over-year basis. Equities research analysts anticipate that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand announced that its board has approved a stock buyback program on Thursday, May 1st that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to reacquire up to 3.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its stock is undervalued.

Ingersoll Rand Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Thursday, May 15th were issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. The ex-dividend date was Thursday, May 15th. Ingersoll Rand's dividend payout ratio is presently 3.96%.

Insider Activity

In other Ingersoll Rand 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 now directly owns 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Vicente Reynal sold 38,657 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $83.03, for a total value 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 disclosure for this sale can be found here. Corporate insiders own 0.59% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Barclays reduced their price objective on shares of Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Wells Fargo & Company lifted their target price on Ingersoll Rand from $80.00 to $86.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Stifel Nicolaus cut their price target on Ingersoll Rand from $94.00 to $77.00 and set a "hold" rating for the company in a report on Monday, April 14th. Citigroup increased their target price 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, Robert W. Baird increased their price objective on shares of Ingersoll Rand from $105.00 to $111.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $98.91.

Ingersoll Rand Company 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.