Ingersoll Rand Inc. (NYSE:IR) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lowered its stake in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 26.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 61,972 shares of the industrial products company's stock after selling 22,375 shares during the quarter. Janney Montgomery Scott LLC's holdings in Ingersoll Rand were worth $4,960,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Ingersoll Rand by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 45,684,016 shares of the industrial products company's stock worth $4,132,576,000 after purchasing an additional 446,591 shares in the last quarter. Magnetar Financial LLC purchased a new position in shares of Ingersoll Rand during the fourth quarter worth approximately $4,788,000. Atria Wealth Solutions Inc. grew its position in shares of Ingersoll Rand by 62.1% during the fourth quarter. Atria Wealth Solutions Inc. now owns 10,959 shares of the industrial products company's stock worth $991,000 after acquiring an additional 4,197 shares during the last quarter. Dynamic Advisor Solutions LLC grew its position in shares of 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 grew its position in shares of 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. Institutional investors and hedge funds own 95.27% of the company's stock.

Insider Buying and Selling at Ingersoll Rand

In related news, insider Elizabeth Meloy Hepding sold 3,500 shares of the firm's 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 transaction, the insider now owns 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Vicente Reynal sold 38,657 shares of the firm's 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 completion of the transaction, the insider now owns 193,186 shares in the company, valued at $16,040,233.58. The trade was a 16.67% decrease in their position. The disclosure for this sale can be found here. 0.68% of the stock is owned by insiders.

Ingersoll Rand Price Performance

Shares of NYSE:IR traded up $1.80 during midday trading on Tuesday, hitting $83.73. 2,654,021 shares of the stock were exchanged, compared to its average volume of 2,557,918. The stock has a market cap of $33.78 billion, a P/E ratio of 41.45, a PEG ratio of 3.26 and a beta of 1.44. 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 twelve month low of $65.61 and a twelve month high of $106.03. The company has a 50 day moving average price of $79.38 and a 200-day moving average price of $84.25.

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 the consensus estimate of $0.74 by ($0.02). The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.73 billion. Ingersoll Rand had a return on equity of 12.33% and a net margin of 11.30%. The company's quarterly revenue was up 2.8% compared to the same quarter last year. During the same period last year, the firm earned $0.78 EPS. On average, research analysts forecast that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand announced that its board has authorized a share repurchase program on Thursday, May 1st that authorizes the company to buyback $1.00 billion in 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 usually a sign that the company's management believes its shares are undervalued.

Ingersoll Rand Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Thursday, May 15th were issued 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 yield of 0.10%. Ingersoll Rand's dividend payout ratio (DPR) is 3.96%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on IR shares. Wells Fargo & Company raised their target price on shares of Ingersoll Rand from $80.00 to $86.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Stifel Nicolaus lowered 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. Barclays lowered their price objective on shares of Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Finally, Citigroup lifted 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. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $97.80.

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.