First National Advisers LLC Has $2.96 Million Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

Key Points

• First National Advisers LLC significantly increased its stake in Ingersoll Rand Inc. by 127.3%, holding 37,001 shares valued at approximately $2.96 million as of its latest SEC filing.
• Several hedge funds, including Compass Wealth Management LLC and Rothschild Investment LLC, also raised their holdings, indicating strong institutional interest as 95.27% of the company's stock is now owned by institutional investors.
• Ingersoll Rand's stock price saw a recent boost, with analysts setting new price targets ranging from $92.00 to $104.00, reflecting a consensus target price of $100.92.

First National Advisers LLC grew its stake in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 127.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,001 shares of the industrial products company's stock after purchasing an additional 20,723 shares during the quarter. First National Advisers LLC's holdings in Ingersoll Rand were worth $2,961,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Compass Wealth Management LLC increased its position in Ingersoll Rand by 62.8% during the first quarter. Compass Wealth Management LLC now owns 355 shares of the industrial products company's stock worth $28,000 after acquiring an additional 137 shares during the period. Global Wealth Strategies & Associates increased its position in Ingersoll Rand by 325.0% during the first quarter. Global Wealth Strategies & Associates now owns 374 shares of the industrial products company's stock worth $30,000 after acquiring an additional 286 shares during the period. Golden State Wealth Management LLC increased its position in 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 acquiring an additional 313 shares during the period. Farmers & Merchants Investments Inc. increased its position in Ingersoll Rand by 54.4% during the first quarter. Farmers & Merchants Investments Inc. now owns 488 shares of the industrial products company's stock worth $39,000 after acquiring an additional 172 shares during the period. Finally, Larson Financial Group LLC increased its position in Ingersoll Rand by 136.4% during the first quarter. Larson Financial Group LLC now owns 494 shares of the industrial products company's stock worth $39,000 after acquiring an additional 285 shares during the period. 95.27% of the stock is owned by institutional investors.

Ingersoll Rand Price Performance

Ingersoll Rand stock traded down $0.31 during trading hours on Monday, reaching $87.96. 1,947,584 shares of the stock were exchanged, compared to its average volume of 2,564,100. The stock has a 50 day moving average of $84.05 and a two-hundred day moving average of $82.95. Ingersoll Rand Inc. has a twelve month low of $65.61 and a twelve month high of $106.03. The company has a current ratio of 2.38, a quick ratio of 1.76 and a debt-to-equity ratio of 0.45. The company has a market cap of $35.49 billion, a P/E ratio of 43.54, a price-to-earnings-growth ratio of 3.71 and a beta of 1.43.

Ingersoll Rand (NYSE:IR - Get Free Report) last posted its quarterly 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). Ingersoll Rand had a net margin of 11.30% and a return on equity of 12.33%. The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the previous year, the business posted $0.78 earnings per share. The company's revenue for the quarter was up 2.8% on a year-over-year basis. Equities analysts expect that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand announced that its board has approved a stock repurchase program 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 programs are often an indication that the company's board of directors believes its shares are undervalued.

Ingersoll Rand Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th will be paid a $0.02 dividend. The ex-dividend date is Thursday, August 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. Ingersoll Rand's payout ratio is currently 3.96%.

Insider Buying and Selling

In other news, insider Elizabeth Meloy Hepding sold 3,500 shares of the firm's stock in a transaction that occurred 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 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Vicente Reynal sold 38,657 shares of Ingersoll Rand stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $83.03, for a total transaction of $3,209,690.71. Following the sale, the insider owned 193,186 shares in the company, valued at approximately $16,040,233.58. This represents a 16.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.68% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Wells Fargo & Company raised 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. Citigroup reaffirmed a "buy" rating and set a $104.00 price target (up from $91.00) on shares of Ingersoll Rand in a research report on Monday, July 14th. Stifel Nicolaus raised their price target on shares of Ingersoll Rand from $78.00 to $95.00 and gave the stock a "hold" rating in a research report on Monday, July 21st. Melius lowered shares of Ingersoll Rand from a "buy" rating to a "hold" rating and set a $93.00 price target on the stock. in a research report on Monday, July 14th. Finally, Barclays increased their price objective on shares of Ingersoll Rand from $85.00 to $92.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 9th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $100.92.

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.