IFM Investors Pty Ltd Purchases 7,242 Shares of Ingersoll Rand Inc. (NYSE:IR)

IFM Investors Pty Ltd raised its position in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 9.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 83,601 shares of the industrial products company's stock after purchasing an additional 7,242 shares during the quarter. IFM Investors Pty Ltd's holdings in Ingersoll Rand were worth $6,691,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Global Wealth Strategies & Associates boosted its holdings 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 worth $30,000 after buying an additional 286 shares during the period. Murphy & Mullick Capital Management Corp purchased a new position in shares of Ingersoll Rand in the fourth quarter valued at about $36,000. OFI Invest Asset Management bought a new position in shares of Ingersoll Rand in the fourth quarter worth about $38,000. Golden State Wealth Management LLC grew its position in shares of Ingersoll Rand by 190.9% during the first quarter. Golden State Wealth Management LLC now owns 477 shares of the industrial products company's stock worth $38,000 after purchasing an additional 313 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. raised its stake in Ingersoll Rand by 54.4% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 488 shares of the industrial products company's stock valued at $39,000 after purchasing an additional 172 shares during the period. 95.27% of the stock is currently owned by institutional investors.

Insider Transactions at Ingersoll Rand

In other news, insider Elizabeth Meloy Hepding sold 3,500 shares of the 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 sale, the insider directly owned 10,986 shares in the company, valued at approximately $920,407.08. This represents a 24.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Vicente Reynal sold 38,657 shares of the business's stock in a transaction on 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 transaction, the insider owned 193,186 shares of the company's stock, 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. Corporate insiders own 0.68% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on IR. Stifel Nicolaus dropped their price target 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. Barclays lowered their target price on shares of Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Citigroup raised their target price on shares of Ingersoll Rand from $88.00 to $91.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Finally, Wells Fargo & Company boosted their price target on shares of Ingersoll Rand from $86.00 to $95.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Ingersoll Rand presently has a consensus rating of "Moderate Buy" and an average target price of $98.70.

Ingersoll Rand Trading Down 0.3%

NYSE IR traded down $0.30 during trading hours on Monday, hitting $86.68. 5,127,204 shares of the company were exchanged, compared to its average volume of 2,575,980. Ingersoll Rand Inc. has a 52 week low of $65.61 and a 52 week high of $106.03. The company has a quick ratio of 1.76, a current ratio of 2.38 and a debt-to-equity ratio of 0.45. The stock has a 50-day moving average price of $81.60 and a 200 day moving average price of $83.38. The stock has a market cap of $34.97 billion, a PE ratio of 42.91, a price-to-earnings-growth ratio of 3.67 and a beta of 1.43.

Ingersoll Rand (NYSE:IR - Get Free Report) last released its 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 company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.73 billion. Ingersoll Rand had a net margin of 11.30% and a return on equity of 12.33%. The business's revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.78 EPS. Analysts forecast that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand declared 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 shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

Ingersoll Rand Dividend Announcement

The company also recently declared 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 of this dividend was Thursday, May 15th. This represents a $0.08 annualized dividend and a yield of 0.09%. Ingersoll Rand's payout ratio is 3.96%.

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.