Carmel Capital Partners LLC Buys 5,543 Shares of Ingersoll Rand Inc. (NYSE:IR)

Carmel Capital Partners LLC grew its position in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 36.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,576 shares of the industrial products company's stock after buying an additional 5,543 shares during the quarter. Carmel Capital Partners LLC's holdings in Ingersoll Rand were worth $1,647,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. Bingham Private Wealth LLC lifted its holdings in Ingersoll Rand by 21.1% during the 1st quarter. Bingham Private Wealth LLC now owns 3,046 shares of the industrial products company's stock worth $244,000 after buying an additional 531 shares during the last quarter. Lindbrook Capital LLC increased its stake in Ingersoll Rand by 22.1% in the first quarter. Lindbrook Capital LLC now owns 2,140 shares of the industrial products company's stock valued at $171,000 after purchasing an additional 387 shares during the period. Teachers Retirement System of The State of Kentucky increased its position in Ingersoll Rand by 27.1% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 123,830 shares of the industrial products company's stock valued at $9,910,000 after acquiring an additional 26,413 shares during the period. Nwam LLC purchased a new stake in Ingersoll Rand during the 1st quarter valued at approximately $280,000. Finally, Tributary Capital Management LLC lifted its position in Ingersoll Rand by 103.0% during the 1st quarter. Tributary Capital Management LLC now owns 5,075 shares of the industrial products company's stock worth $406,000 after acquiring an additional 2,575 shares during the period. Institutional investors and hedge funds own 95.27% of the company's stock.

Insiders Place Their Bets

In other Ingersoll Rand news, insider Elizabeth Meloy Hepding sold 3,500 shares of the company's 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 directly owned 10,986 shares in the company, valued at $920,407.08. The trade was a 24.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Vicente Reynal sold 38,657 shares of the 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 completion of the sale, the insider owned 193,186 shares of the company's stock, valued at $16,040,233.58. The trade was a 16.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.59% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on IR shares. Melius Research set a $93.00 price target on shares of Ingersoll Rand in a report on Monday, July 14th. Citigroup restated a "buy" rating and set a $104.00 target price (up from $91.00) on shares of Ingersoll Rand in a report on Monday, July 14th. Melius downgraded Ingersoll Rand from a "buy" rating to a "hold" rating and set a $93.00 price objective on the stock. in a research report on Monday, July 14th. Barclays raised their price objective on Ingersoll Rand from $85.00 to $92.00 and gave the stock an "overweight" rating in a report on Wednesday, July 9th. Finally, Wells Fargo & Company increased 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. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $100.92.

Ingersoll Rand Stock Performance

Shares of NYSE:IR traded down $1.60 during trading hours on Monday, hitting $83.95. The stock had a trading volume of 2,561,431 shares, compared to its average volume of 2,595,933. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.76 and a current ratio of 2.38. The stock's fifty day simple moving average is $83.71 and its 200 day simple moving average is $83.08. The firm has a market capitalization of $33.87 billion, a price-to-earnings ratio of 41.56, a PEG ratio of 3.61 and a beta of 1.43. 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 announced its quarterly earnings data on Thursday, May 1st. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.02). The business 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 12.33% and a net margin of 11.30%. The firm's revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.78 earnings per share. Sell-side analysts anticipate that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand announced that its Board of Directors has initiated a share buyback program on Thursday, May 1st that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 3.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its stock is undervalued.

Ingersoll Rand Dividend Announcement

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

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.