Ingersoll Rand Inc. (NYSE:IR) Shares Bought by GAM Holding AG

GAM Holding AG boosted its holdings in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 18.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,937 shares of the industrial products company's stock after acquiring an additional 3,112 shares during the period. GAM Holding AG's holdings in Ingersoll Rand were worth $1,596,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Global Wealth Strategies & Associates raised its position in shares of Ingersoll Rand by 325.0% in the first quarter. Global Wealth Strategies & Associates now owns 374 shares of the industrial products company's stock valued at $30,000 after buying an additional 286 shares during the last quarter. Murphy & Mullick Capital Management Corp acquired a new position in shares of Ingersoll Rand in the fourth quarter valued at approximately $36,000. OFI Invest Asset Management acquired a new position in shares of Ingersoll Rand in the fourth quarter valued at approximately $38,000. Farmers & Merchants Investments Inc. raised its position in shares of Ingersoll Rand by 54.4% in the first quarter. Farmers & Merchants Investments Inc. now owns 488 shares of the industrial products company's stock valued at $39,000 after buying an additional 172 shares during the last quarter. Finally, Lee Danner & Bass Inc. acquired a new position in shares of Ingersoll Rand in the fourth quarter valued at approximately $42,000. Institutional investors and hedge funds own 95.27% of the company's stock.

Insider Buying and Selling at Ingersoll Rand

In other news, insider Elizabeth Meloy Hepding sold 3,500 shares of the business's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $83.78, for a total transaction of $293,230.00. Following the transaction, the insider now directly owns 10,986 shares of the company's stock, valued at approximately $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 SEC, which is available at this hyperlink. Also, insider Vicente Reynal sold 38,657 shares of the business's stock in a transaction 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 transaction, the insider now directly owns 193,186 shares in the company, valued at approximately $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.

Ingersoll Rand Price Performance

Ingersoll Rand stock opened at $80.40 on Friday. The company has a market cap of $32.44 billion, a price-to-earnings ratio of 39.80, a PEG ratio of 3.20 and a beta of 1.44. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.76 and a current ratio of 2.38. Ingersoll Rand Inc. has a 1 year low of $65.61 and a 1 year high of $106.03. The firm has a 50 day moving average price of $79.21 and a 200 day moving average price of $84.52.

Ingersoll Rand (NYSE:IR - Get Free Report) last announced 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). The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.73 billion. Ingersoll Rand had a net margin of 11.30% and a return on equity of 12.33%. The company's quarterly revenue was up 2.8% on a year-over-year basis. During the same period last year, the firm earned $0.78 earnings per share. Sell-side analysts predict that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand declared that its board has approved a share repurchase program on Thursday, May 1st that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the industrial products company to repurchase up to 3.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's management believes its stock is undervalued.

Ingersoll Rand Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Shareholders 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 yield of 0.10%. Ingersoll Rand's dividend payout ratio (DPR) is 3.96%.

Analyst Ratings Changes

A number of research firms have recently weighed in on IR. Stifel Nicolaus cut their price objective on shares of Ingersoll Rand from $94.00 to $77.00 and set a "hold" rating for the company in a research report on Monday, April 14th. Citigroup boosted their price objective on shares of Ingersoll Rand from $88.00 to $91.00 and gave the company a "buy" rating in a research report on Monday, May 5th. Wells Fargo & Company boosted their price objective on shares of Ingersoll Rand from $80.00 to $86.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Finally, Barclays lowered their target price on shares of Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Ingersoll Rand has a consensus rating of "Moderate Buy" and a consensus target price of $97.80.

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.

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