Ingersoll Rand Inc. (NYSE:IR) Shares Bought by IFM Investors Pty Ltd

IFM Investors Pty Ltd grew its position in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 9.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. 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 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. North Capital Inc. acquired a new position in Ingersoll Rand in the first quarter valued at $55,000. Mutual Advisors LLC lifted its holdings in shares of Ingersoll Rand by 61.3% in the first quarter. Mutual Advisors LLC now owns 6,447 shares of the industrial products company's stock valued at $483,000 after purchasing an additional 2,451 shares in the last quarter. Resonant Capital Advisors LLC lifted its holdings in shares of Ingersoll Rand by 12.4% in the first quarter. Resonant Capital Advisors LLC now owns 2,842 shares of the industrial products company's stock valued at $227,000 after purchasing an additional 313 shares in the last quarter. Teacher Retirement System of Texas raised its position in shares of Ingersoll Rand by 1,460.0% in the first quarter. Teacher Retirement System of Texas now owns 58,923 shares of the industrial products company's stock valued at $4,716,000 after buying an additional 55,146 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Ingersoll Rand by 0.6% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 70,954 shares of the industrial products company's stock valued at $5,678,000 after buying an additional 448 shares during the last quarter. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Ingersoll Rand Stock Performance

Shares of NYSE:IR traded up $0.53 on Tuesday, reaching $87.37. 601,788 shares of the company's stock were exchanged, compared to its average volume of 2,892,012. The firm has a market capitalization of $35.25 billion, a price-to-earnings ratio of 43.25, a PEG ratio of 3.67 and a beta of 1.43. Ingersoll Rand Inc. has a fifty-two week low of $65.61 and a fifty-two week high of $106.03. The business's 50-day moving average is $81.84 and its two-hundred day moving average is $83.34. The company has a quick ratio of 1.76, a current ratio of 2.38 and a debt-to-equity ratio of 0.45.

Ingersoll Rand (NYSE:IR - Get Free Report) last issued its earnings results on Thursday, May 1st. The industrial products company reported $0.72 earnings per share for the quarter, missing analysts' consensus estimates of $0.74 by ($0.02). The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.73 billion. Ingersoll Rand had a return on equity of 12.33% and a net margin of 11.30%. The firm's revenue for the quarter was up 2.8% on a year-over-year basis. During the same period last year, the company posted $0.78 earnings per share. As a group, equities research analysts forecast that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

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

Ingersoll Rand Announces Dividend

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

Insider Transactions at Ingersoll Rand

In related news, insider Vicente Reynal sold 38,657 shares of the 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 sale, the insider owned 193,186 shares of the company's stock, valued at $16,040,233.58. This trade represents a 16.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 completion of the sale, the insider directly owned 10,986 shares in the company, valued at approximately $920,407.08. This trade represents a 24.16% decrease in their position. The disclosure for this sale can be found here. 0.59% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Wells Fargo & Company upped their price target on shares of Ingersoll Rand from $86.00 to $95.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Stifel Nicolaus decreased their target price on shares of Ingersoll Rand from $94.00 to $77.00 and set a "hold" rating for the company in a research note on Monday, April 14th. Citigroup upped 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, Barclays decreased their target price on shares of Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $98.70.

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.