Ingersoll Rand Inc. (NYSE:IR) Shares Purchased by TD Asset Management Inc

Key Points

• TD Asset Management Inc increased its stake in Ingersoll Rand Inc. by 5.1% in Q1, now owning approximately 0.24% of the company valued at $76.75 million.
• Equities analysts have mixed views on Ingersoll Rand, with Citigroup maintaining a "buy" rating and raising the target price to $104, while Melius downgraded the stock from "buy" to "hold."
• Ingersoll Rand announced a quarterly dividend of $0.02 per share, representing an annualized dividend of $0.08, alongside a $1 billion share repurchase plan approved by its Board of Directors.

TD Asset Management Inc lifted its holdings in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 5.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 959,036 shares of the industrial products company's stock after purchasing an additional 46,249 shares during the period. TD Asset Management Inc owned about 0.24% of Ingersoll Rand worth $76,752,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of IR. Compass Wealth Management LLC boosted its holdings in shares of Ingersoll Rand by 62.8% during the 1st quarter. Compass Wealth Management LLC now owns 355 shares of the industrial products company's stock worth $28,000 after purchasing an additional 137 shares during the last quarter. Global Wealth Strategies & Associates boosted its holdings in shares of Ingersoll Rand by 325.0% during the 1st quarter. Global Wealth Strategies & Associates now owns 374 shares of the industrial products company's stock worth $30,000 after purchasing an additional 286 shares during the last quarter. Golden State Wealth Management LLC boosted its holdings in shares of Ingersoll Rand by 190.9% during the 1st quarter. Golden State Wealth Management LLC now owns 477 shares of the industrial products company's stock worth $38,000 after purchasing an additional 313 shares during the last quarter. Farmers & Merchants Investments Inc. lifted its holdings in 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 acquiring an additional 172 shares during the last quarter. Finally, Larson Financial Group LLC lifted its holdings in Ingersoll Rand by 136.4% in the first quarter. Larson Financial Group LLC now owns 494 shares of the industrial products company's stock valued at $39,000 after acquiring an additional 285 shares during the last quarter. Hedge funds and other institutional investors own 95.27% of the company's stock.

Ingersoll Rand Stock Down 0.4%

NYSE:IR traded down $0.31 during trading hours on Monday, hitting $87.96. The company's stock had a trading volume of 1,947,584 shares, compared to its average volume of 2,564,100. The stock has a market capitalization 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. The stock has a fifty day moving average of $84.05 and a 200-day moving average of $82.95. The company has a current ratio of 2.38, a quick ratio of 1.76 and a debt-to-equity ratio of 0.45. Ingersoll Rand Inc. has a 52-week low of $65.61 and a 52-week high of $106.03.

Ingersoll Rand (NYSE:IR - Get Free Report) last posted its earnings results on Thursday, May 1st. The industrial products company reported $0.72 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 net margin of 11.30% and a return on equity of 12.33%. The business's quarterly revenue was up 2.8% compared to the same quarter last year. During the same period last year, the company earned $0.78 EPS. On average, equities analysts forecast that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

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

Ingersoll Rand Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. The ex-dividend date of this dividend is Thursday, August 14th. Ingersoll Rand's payout ratio is 3.96%.

Insider Activity

In other Ingersoll Rand news, insider Elizabeth Meloy Hepding sold 3,500 shares of the firm's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $83.78, for a total transaction of $293,230.00. Following the transaction, the insider owned 10,986 shares of the company's stock, valued at approximately $920,407.08. This trade represents a 24.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Vicente Reynal sold 38,657 shares of the firm's stock in a transaction dated 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 transaction, the insider directly owned 193,186 shares in the company, valued at approximately $16,040,233.58. This represents a 16.67% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.68% of the company's stock.

Wall Street Analysts Forecast Growth

IR has been the topic of a number of recent analyst reports. Wells Fargo & Company upped their price objective on Ingersoll Rand from $86.00 to $95.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Stifel Nicolaus upped their price objective on Ingersoll Rand from $78.00 to $95.00 and gave the company a "hold" rating in a report on Monday, July 21st. Melius cut Ingersoll Rand from a "buy" rating to a "hold" rating and set a $93.00 price objective on the stock. in a report on Monday, July 14th. Barclays lifted their price objective on Ingersoll Rand from $85.00 to $92.00 and gave the company an "overweight" rating in a research note on Wednesday, July 9th. Finally, Melius Research set a $93.00 target price on Ingersoll Rand in a report on Monday, July 14th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, Ingersoll Rand currently has an average rating of "Hold" and a consensus price target of $100.92.

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.