JPMorgan Chase & Co. Boosts Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

Key Points

• JPMorgan Chase & Co. increased its holdings in Ingersoll Rand by 4.6%, owning nearly 19.75 million shares valued at approximately $1.58 billion as of the latest SEC filing.
• Several institutional investors significantly boosted their stakes in Ingersoll Rand during the first quarter, including Compass Wealth Management which increased its investment by 62.8%.
• Ingersoll Rand announced a share buyback program worth $1 billion and declared a quarterly dividend of $0.02 per share, marking a 0.1% yield for shareholders.

JPMorgan Chase & Co. raised its holdings in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 4.6% during the first quarter, according to its most recent filing with the SEC. The firm owned 19,745,039 shares of the industrial products company's stock after purchasing an additional 866,759 shares during the period. JPMorgan Chase & Co. owned 4.89% of Ingersoll Rand worth $1,580,196,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in IR. Compass Wealth Management LLC grew its stake in Ingersoll Rand by 62.8% in the first 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 position in shares of Ingersoll Rand by 325.0% in the 1st quarter. Global Wealth Strategies & Associates now owns 374 shares of the industrial products company's stock worth $30,000 after buying an additional 286 shares during the last quarter. Golden State Wealth Management LLC grew its position in shares of Ingersoll Rand by 190.9% in the 1st quarter. Golden State Wealth Management LLC now owns 477 shares of the industrial products company's stock worth $38,000 after buying an additional 313 shares during the last quarter. Farmers & Merchants Investments Inc. grew its position in shares of Ingersoll Rand by 54.4% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 488 shares of the industrial products company's stock worth $39,000 after buying an additional 172 shares during the last quarter. Finally, Larson Financial Group LLC grew 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 worth $39,000 after purchasing an additional 285 shares during the last quarter. Hedge funds and other institutional investors own 95.27% of the company's stock.

Insider Buying and Selling at Ingersoll Rand

In other Ingersoll Rand news, insider Elizabeth Meloy Hepding sold 3,500 shares of the 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 transaction, the insider directly owned 10,986 shares of the company's stock, valued at $920,407.08. This trade represents a 24.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Vicente Reynal sold 38,657 shares of the firm's stock in a transaction dated 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 directly owned 193,186 shares in the company, valued at $16,040,233.58. This represents a 16.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.59% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Melius lowered shares of Ingersoll Rand from a "buy" rating to a "hold" rating and set a $93.00 price target on the stock. in a report on Monday, July 14th. Robert W. Baird boosted their target price on Ingersoll Rand from $97.00 to $103.00 and gave the stock an "outperform" rating in a research note on Monday, August 4th. Stifel Nicolaus dropped their target price on Ingersoll Rand from $95.00 to $78.00 and set a "hold" rating on the stock in a research note on Monday, August 4th. Barclays dropped their price target on Ingersoll Rand from $92.00 to $91.00 and set an "overweight" rating on the stock in a research note on Monday, August 4th. Finally, Melius Research set a $93.00 price target on Ingersoll Rand in a research note on Monday, July 14th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $98.75.

Ingersoll Rand Trading Down 0.5%

Ingersoll Rand stock opened at $75.88 on Friday. The company has a current ratio of 2.29, a quick ratio of 1.63 and a debt-to-equity ratio of 0.47. Ingersoll Rand Inc. has a 12 month low of $65.61 and a 12 month high of $106.03. The stock's 50 day simple moving average is $83.72 and its two-hundred day simple moving average is $82.29. The firm has a market cap of $30.16 billion, a PE ratio of 59.28, a P/E/G ratio of 4.31 and a beta of 1.41.

Ingersoll Rand (NYSE:IR - Get Free Report) last posted its earnings results on Thursday, July 31st. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.80. Ingersoll Rand had a net margin of 7.10% and a return on equity of 12.12%. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same period in the prior year, the company posted $0.83 EPS. The company's revenue for the quarter was up 4.6% on a year-over-year basis. Analysts anticipate that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand declared that its Board of Directors has approved 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 reacquire up to 3.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board believes its stock is undervalued.

Ingersoll Rand Dividend Announcement

The business 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 yield of 0.1%. The ex-dividend date of this dividend is Thursday, August 14th. Ingersoll Rand's dividend payout ratio (DPR) is presently 6.25%.

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.

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