GAMMA Investing LLC Raises Stock Position in Ingersoll Rand Inc. (NYSE:IR)

GAMMA Investing LLC lifted its position in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 7,137.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,307,370 shares of the industrial products company's stock after buying an additional 1,289,305 shares during the period. GAMMA Investing LLC owned about 0.32% of Ingersoll Rand worth $1,046,290,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. grew its stake in Ingersoll Rand by 8.7% in the third quarter. JPMorgan Chase & Co. now owns 18,229,178 shares of the industrial products company's stock valued at $1,789,376,000 after purchasing an additional 1,462,538 shares in the last quarter. Blue Trust Inc. lifted its holdings in Ingersoll Rand by 69.0% during the 4th quarter. Blue Trust Inc. now owns 4,611 shares of the industrial products company's stock worth $453,000 after purchasing an additional 1,882 shares during the last quarter. KBC Group NV raised its holdings in Ingersoll Rand by 2.3% in the 4th quarter. KBC Group NV now owns 75,374 shares of the industrial products company's stock valued at $6,818,000 after acquiring an additional 1,682 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Ingersoll Rand by 5.9% in the 4th quarter. Pacer Advisors Inc. now owns 39,622 shares of the industrial products company's stock valued at $3,584,000 after acquiring an additional 2,202 shares in the last quarter. Finally, OLD National Bancorp IN raised its holdings in Ingersoll Rand by 23.3% in the 4th quarter. OLD National Bancorp IN now owns 3,844 shares of the industrial products company's stock valued at $348,000 after acquiring an additional 726 shares in the last quarter. 95.27% of the stock is owned by institutional investors and hedge funds.

Ingersoll Rand Stock Performance

Shares of IR stock traded up $1.14 during mid-day trading on Tuesday, reaching $82.20. 559,912 shares of the company's stock traded hands, compared to its average volume of 2,597,422. Ingersoll Rand Inc. has a 12 month low of $65.61 and a 12 month high of $106.03. The firm has a 50 day moving average price of $77.02 and a two-hundred day moving average price of $86.53. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.29. The firm has a market capitalization of $33.16 billion, a PE ratio of 39.90, a price-to-earnings-growth ratio of 3.50 and a beta of 1.42.

Ingersoll Rand (NYSE:IR - Get Free Report) last issued its quarterly earnings data 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 business 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 11.59% and a return on equity of 12.78%. The company's revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.78 EPS. On average, research analysts forecast that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand declared that its board has initiated a share buyback plan on Thursday, May 1st that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the industrial products company to purchase up to 3.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board believes its shares are undervalued.

Ingersoll Rand Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 15th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.10%. The ex-dividend date of this dividend is Thursday, May 15th. Ingersoll Rand's dividend payout ratio (DPR) is presently 3.96%.

Insider Buying and Selling at Ingersoll Rand

In other news, insider Vicente Reynal sold 38,657 shares of the company's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $83.03, for a total transaction of $3,209,690.71. Following the sale, the insider now directly owns 193,186 shares in the company, valued at approximately $16,040,233.58. This represents a 16.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Elizabeth Meloy Hepding sold 3,500 shares of the company's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $83.78, for a total transaction of $293,230.00. Following the sale, the insider now owns 10,986 shares in the company, valued at $920,407.08. This represents a 24.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.59% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on IR. Robert W. Baird boosted their price objective on Ingersoll Rand from $105.00 to $111.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. Barclays dropped their price objective on Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Stifel Nicolaus dropped their price target on Ingersoll Rand from $94.00 to $77.00 and set a "hold" rating on the stock in a research note on Monday, April 14th. Citigroup increased their price objective on Ingersoll Rand from $88.00 to $91.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Finally, Evercore ISI reduced their target price on Ingersoll Rand from $100.00 to $91.00 and set an "in-line" rating for the company in a report on Wednesday, February 19th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $98.91.

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.