Xponance Inc. Sells 3,424 Shares of Ingersoll Rand Inc. (NYSE:IR)

Xponance Inc. cut its stake in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 5.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 65,670 shares of the industrial products company's stock after selling 3,424 shares during the quarter. Xponance Inc.'s holdings in Ingersoll Rand were worth $5,256,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Compass Wealth Management LLC grew 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 valued at $28,000 after purchasing an additional 137 shares during the last quarter. Global Wealth Strategies & Associates grew 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 valued at $30,000 after purchasing an additional 286 shares during the last quarter. Murphy & Mullick Capital Management Corp bought a new stake in shares of Ingersoll Rand during the 4th quarter valued at approximately $36,000. Lee Danner & Bass Inc. bought a new stake in shares of Ingersoll Rand during the 4th quarter valued at approximately $42,000. Finally, Golden State Wealth Management LLC grew its holdings in 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 acquiring an additional 313 shares during the last quarter. 95.27% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Citigroup boosted their target price on shares of Ingersoll Rand from $88.00 to $91.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Wells Fargo & Company boosted 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. Stifel Nicolaus dropped their price target 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. Finally, Barclays boosted their price target on shares of Ingersoll Rand from $85.00 to $92.00 and gave the stock an "overweight" rating in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Ingersoll Rand currently has an average rating of "Moderate Buy" and a consensus price target of $99.40.

Ingersoll Rand Stock Up 0.4%

Shares of Ingersoll Rand stock traded up $0.32 during trading on Friday, reaching $89.01. 2,286,802 shares of the company traded hands, compared to its average volume of 2,588,358. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.38 and a quick ratio of 1.76. Ingersoll Rand Inc. has a 1-year low of $65.61 and a 1-year high of $106.03. The company has a 50 day moving average price of $82.83 and a 200-day moving average price of $83.29. The firm has a market capitalization of $35.91 billion, a PE ratio of 44.06, a P/E/G ratio of 3.76 and a beta of 1.43.

Ingersoll Rand (NYSE:IR - Get Free Report) last released its 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 for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the previous year, the firm earned $0.78 EPS. The firm's revenue was up 2.8% on a year-over-year basis. As a group, equities research analysts expect that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Thursday, May 15th were paid a dividend of $0.02 per share. The ex-dividend date of this dividend was Thursday, May 15th. 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 announced that its Board of Directors has approved a share buyback plan on Thursday, May 1st that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the industrial products company to reacquire up to 3.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

Insiders Place Their Bets

In other Ingersoll Rand news, insider Vicente Reynal sold 38,657 shares of the business's 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 in the company, valued at approximately $16,040,233.58. The trade was a 16.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 sale, the insider owned 10,986 shares of the company's stock, valued at $920,407.08. This trade represents a 24.16% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.59% of the company's stock.

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.