Teacher Retirement System of Texas Buys 55,146 Shares of Ingersoll Rand Inc. (NYSE:IR)

Teacher Retirement System of Texas lifted its stake in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 1,460.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 58,923 shares of the industrial products company's stock after purchasing an additional 55,146 shares during the quarter. Teacher Retirement System of Texas' holdings in Ingersoll Rand were worth $4,716,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Ingersoll Rand during the fourth quarter worth approximately $429,591,000. Capital International Investors boosted its holdings in shares of Ingersoll Rand by 4.6% during the 4th quarter. Capital International Investors now owns 36,673,865 shares of the industrial products company's stock worth $3,317,537,000 after buying an additional 1,606,363 shares during the period. FMR LLC grew its stake in Ingersoll Rand by 8.2% in the 4th quarter. FMR LLC now owns 17,472,317 shares of the industrial products company's stock valued at $1,580,546,000 after buying an additional 1,320,223 shares during the last quarter. GAMMA Investing LLC grew its stake in Ingersoll Rand by 7,137.0% in the 1st quarter. GAMMA Investing LLC now owns 1,307,370 shares of the industrial products company's stock valued at $1,046,290,000 after buying an additional 1,289,305 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in Ingersoll Rand by 5.9% in the 4th quarter. Franklin Resources Inc. now owns 12,277,177 shares of the industrial products company's stock valued at $1,110,593,000 after buying an additional 679,856 shares during the last quarter. Institutional investors own 95.27% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on IR. Citigroup raised their target price on shares of Ingersoll Rand from $88.00 to $91.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Barclays lifted their price target on Ingersoll Rand from $85.00 to $92.00 and gave the stock an "overweight" rating in a research report on Wednesday. Wells Fargo & Company increased their price objective on Ingersoll Rand from $86.00 to $95.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Finally, Stifel Nicolaus dropped their target price on shares of Ingersoll Rand from $94.00 to $77.00 and set a "hold" rating on the stock in a research report on Monday, April 14th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $99.40.

Insider Transactions at Ingersoll Rand

In other news, 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 transaction 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. This represents a 16.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Elizabeth Meloy Hepding sold 3,500 shares of Ingersoll Rand 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 completion of the sale, the insider directly owned 10,986 shares in the company, valued at approximately $920,407.08. This represents a 24.16% decrease in their position. The disclosure for this sale can be found here. 0.59% of the stock is currently owned by insiders.

Ingersoll Rand Price Performance

Shares of NYSE IR traded up $0.32 during midday trading on Friday, reaching $89.01. 2,286,802 shares of the company traded hands, compared to its average volume of 2,586,910. The firm has a market cap of $35.91 billion, a PE ratio of 44.06, a PEG ratio of 3.70 and a beta of 1.43. The stock's 50-day simple moving average is $82.58 and its 200-day simple moving average is $83.37. Ingersoll Rand Inc. has a 12 month low of $65.61 and a 12 month high of $106.03. 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 (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). 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 for the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the business posted $0.78 earnings per share. The firm's revenue was up 2.8% compared to the same quarter last year. As a group, equities analysts anticipate that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Thursday, May 15th were paid a $0.02 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. Ingersoll Rand's dividend payout ratio (DPR) is presently 3.96%.

Ingersoll Rand declared that its board has approved a stock buyback plan 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 purchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors believes its shares are undervalued.

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.