Kentucky Retirement Systems Insurance Trust Fund Purchases Shares of 11,736 Ingersoll Rand Inc. (NYSE:IR)

Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 11,736 shares of the industrial products company's stock, valued at approximately $939,000.

Several other institutional investors and hedge funds also recently made changes to their positions in IR. Global Wealth Strategies & Associates grew its holdings 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 valued at $30,000 after buying an additional 286 shares during the period. Murphy & Mullick Capital Management Corp acquired a new position in shares of Ingersoll Rand in the 4th quarter valued at $36,000. OFI Invest Asset Management acquired a new position in shares of Ingersoll Rand in the 4th quarter valued at $38,000. Farmers & Merchants Investments Inc. grew its holdings 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 valued at $39,000 after buying an additional 172 shares during the period. Finally, Lee Danner & Bass Inc. acquired a new position in shares of Ingersoll Rand in the 4th quarter valued at $42,000. Institutional investors own 95.27% of the company's stock.

Ingersoll Rand Stock Down 0.3%

Shares of Ingersoll Rand stock traded down $0.28 during trading hours on Wednesday, reaching $83.41. 1,650,264 shares of the company's stock were exchanged, compared to its average volume of 2,548,611. The company has a 50 day moving average of $79.84 and a two-hundred day moving average of $84.24. Ingersoll Rand Inc. has a fifty-two week low of $65.61 and a fifty-two week high of $106.03. The company has a current ratio of 2.38, a quick ratio of 1.76 and a debt-to-equity ratio of 0.45. The stock has a market cap of $33.65 billion, a P/E ratio of 41.29, a P/E/G ratio of 3.33 and a beta of 1.44.

Ingersoll Rand (NYSE:IR - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The industrial products company reported $0.72 EPS for the quarter, missing analysts' consensus estimates of $0.74 by ($0.02). Ingersoll Rand had a return on equity of 12.33% and a net margin of 11.30%. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the prior year, the company earned $0.78 earnings per share. The company's quarterly revenue was up 2.8% on a year-over-year basis. On average, sell-side analysts forecast that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Stockholders 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 dividend yield of 0.10%. Ingersoll Rand's dividend payout ratio is 3.96%.

Ingersoll Rand announced that its Board of Directors has initiated 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 purchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Barclays decreased their price target on shares of Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Citigroup upped their target price on shares of Ingersoll Rand from $88.00 to $91.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Stifel Nicolaus reduced their target price on shares of Ingersoll Rand from $94.00 to $77.00 and set a "hold" rating for the company in a research note on Monday, April 14th. Finally, Wells Fargo & Company upped their target price on shares of Ingersoll Rand from $80.00 to $86.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Five 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, Ingersoll Rand has a consensus rating of "Moderate Buy" and an average target price of $97.80.

Insider Transactions at Ingersoll Rand

In other news, insider Vicente Reynal sold 38,657 shares of the company's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $83.03, for a total value of $3,209,690.71. Following the sale, the insider now directly owns 193,186 shares of the company's stock, valued at approximately $16,040,233.58. This represents a 16.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Elizabeth Meloy Hepding sold 3,500 shares of the company's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $83.78, for a total transaction of $293,230.00. Following the completion of the sale, the insider now directly owns 10,986 shares in the company, valued at approximately $920,407.08. The trade was a 24.16% 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.

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.