DE Burlo Group Inc. Reduces Holdings in Ingersoll Rand Inc. (NYSE:IR)

Key Points

• DE Burlo Group Inc. has decreased its stake in Ingersoll Rand by 37.2%, now holding 105,900 shares valued at approximately $8.48 million.
• Analysts have set varying target prices for Ingersoll Rand, with Citigroup raising its price target to $104.00 and the consensus rating for the stock currently at "Hold" with a target price of $100.92.
• Ingersoll Rand recently announced a $0.02 quarterly dividend and a stock repurchase plan authorizing up to $1 billion in share buybacks, indicating confidence in the stock's valuation.

DE Burlo Group Inc. lowered its stake in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 37.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 105,900 shares of the industrial products company's stock after selling 62,700 shares during the period. Ingersoll Rand comprises 1.3% of DE Burlo Group Inc.'s investment portfolio, making the stock its 27th biggest position. DE Burlo Group Inc.'s holdings in Ingersoll Rand were worth $8,475,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Sowell Financial Services LLC acquired a new position in Ingersoll Rand during the first quarter worth about $262,000. Concurrent Investment Advisors LLC boosted its position in Ingersoll Rand by 14.4% during the first quarter. Concurrent Investment Advisors LLC now owns 3,066 shares of the industrial products company's stock worth $245,000 after acquiring an additional 385 shares during the last quarter. QRG Capital Management Inc. boosted its position in Ingersoll Rand by 9.4% during the first quarter. QRG Capital Management Inc. now owns 7,669 shares of the industrial products company's stock worth $614,000 after acquiring an additional 660 shares during the last quarter. Dynamic Advisor Solutions LLC boosted its position in Ingersoll Rand by 19.7% during the first quarter. Dynamic Advisor Solutions LLC now owns 11,823 shares of the industrial products company's stock worth $946,000 after acquiring an additional 1,948 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its position in Ingersoll Rand by 29.3% during the first quarter. Farther Finance Advisors LLC now owns 2,945 shares of the industrial products company's stock worth $237,000 after acquiring an additional 667 shares during the last quarter. Hedge funds and other institutional investors own 95.27% of the company's stock.

Insider Buying and Selling

In other Ingersoll Rand news, insider Vicente Reynal sold 38,657 shares of the stock in a transaction that occurred 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 sale, the insider directly owned 193,186 shares in the company, valued at $16,040,233.58. This represents a 16.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Elizabeth Meloy Hepding sold 3,500 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $83.78, for a total transaction of $293,230.00. Following the sale, the insider owned 10,986 shares in the company, valued at approximately $920,407.08. This trade represents a 24.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.68% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on IR. Melius Research set a $93.00 price target on shares of Ingersoll Rand in a research report on Monday, July 14th. Wells Fargo & Company boosted their target price on shares of Ingersoll Rand from $86.00 to $95.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Barclays boosted their target price on shares of Ingersoll Rand from $85.00 to $92.00 and gave the company an "overweight" rating in a report on Wednesday, July 9th. Stifel Nicolaus boosted their target price on shares of Ingersoll Rand from $78.00 to $95.00 and gave the company a "hold" rating in a report on Monday, July 21st. Finally, Melius lowered shares of Ingersoll Rand from a "buy" rating to a "hold" rating and set a $93.00 target price on the stock. in a report on Monday, July 14th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $100.92.

Ingersoll Rand Trading Down 0.5%

Shares of Ingersoll Rand stock traded down $0.45 on Wednesday, reaching $86.62. The company had a trading volume of 499,075 shares, compared to its average volume of 2,855,455. The firm's 50 day moving average price is $84.13 and its two-hundred day moving average price is $82.98. The firm has a market cap of $34.95 billion, a PE ratio of 42.89, a PEG ratio of 3.69 and a beta of 1.43. Ingersoll Rand Inc. has a 52-week low of $65.61 and a 52-week 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 released its quarterly 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 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 analysts' expectations of $1.73 billion. During the same period last year, the firm posted $0.78 earnings per share. Ingersoll Rand's revenue was up 2.8% on a year-over-year basis. Sell-side analysts predict that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand announced that its Board of Directors has authorized a share buyback plan on Thursday, May 1st that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the industrial products company to repurchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.

Ingersoll Rand Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. Ingersoll Rand's dividend payout ratio (DPR) is presently 3.96%.

Ingersoll Rand 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.