Douglas Lane & Associates LLC Purchases 15,191 Shares of Ingersoll Rand Inc. (NYSE:IR)

Douglas Lane & Associates LLC lifted its position in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 1.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 897,317 shares of the industrial products company's stock after buying an additional 15,191 shares during the period. Douglas Lane & Associates LLC owned about 0.22% of Ingersoll Rand worth $71,812,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its position in shares of Ingersoll Rand by 8.7% in the 3rd 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 during the period. Blue Trust Inc. boosted its holdings in shares of Ingersoll Rand by 69.0% in the fourth quarter. Blue Trust Inc. now owns 4,611 shares of the industrial products company's stock valued at $453,000 after buying an additional 1,882 shares during the period. OLD National Bancorp IN boosted its holdings in shares of Ingersoll Rand by 23.3% in the fourth quarter. OLD National Bancorp IN now owns 3,844 shares of the industrial products company's stock valued at $348,000 after buying an additional 726 shares during the period. Chicago Partners Investment Group LLC increased its position in shares of Ingersoll Rand by 4.7% during the fourth quarter. Chicago Partners Investment Group LLC now owns 2,438 shares of the industrial products company's stock worth $218,000 after acquiring an additional 109 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Ingersoll Rand by 3.9% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 13,403 shares of the industrial products company's stock worth $1,212,000 after acquiring an additional 500 shares during the period. Institutional investors and hedge funds own 95.27% of the company's stock.

Ingersoll Rand Stock Performance

Shares of IR stock traded up $0.10 during trading on Thursday, reaching $81.98. 477,706 shares of the company's stock were exchanged, compared to its average volume of 2,581,427. Ingersoll Rand Inc. has a twelve month low of $65.61 and a twelve month high of $106.03. The firm's fifty day moving average price is $77.09 and its 200-day moving average price is $86.46. The company has a quick ratio of 1.71, a current ratio of 2.29 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $33.08 billion, a PE ratio of 39.80, a PEG ratio of 3.50 and a beta of 1.42.

Ingersoll Rand (NYSE:IR - Get Free Report) last posted its 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). Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the prior year, the business posted $0.78 EPS. The business's quarterly revenue was up 2.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand declared that its Board of Directors has approved a share 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 buy up to 3.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its shares are undervalued.

Ingersoll Rand Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is 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 (DPR) is currently 3.96%.

Insider Buying and Selling

In related news, insider Elizabeth Meloy Hepding sold 3,500 shares of the business's 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 completion of the sale, the insider now directly owns 10,986 shares in the company, valued at approximately $920,407.08. The trade was a 24.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Vicente Reynal sold 38,657 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $83.03, for a total value of $3,209,690.71. Following the sale, the insider now directly owns 193,186 shares in the company, valued at $16,040,233.58. This represents a 16.67% decrease in their position. The disclosure for this sale can be found here. 0.59% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Citigroup raised their price target on shares of Ingersoll Rand from $88.00 to $91.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Barclays lowered their price target on shares of Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Robert W. Baird boosted their price target 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. Wells Fargo & Company raised their price objective on Ingersoll Rand from $80.00 to $86.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Finally, Evercore ISI dropped their target price on Ingersoll Rand from $100.00 to $91.00 and set an "in-line" rating on the stock in a report on Wednesday, February 19th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target 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.