Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 11,736 shares of the industrial products company's stock, valued at approximately $939,000.
Several other large investors also recently modified their holdings of the business. 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. Murphy & Mullick Capital Management Corp purchased a new stake in Ingersoll Rand in the fourth quarter worth $36,000. OFI Invest Asset Management bought a new stake in Ingersoll Rand in the fourth quarter valued at $38,000. Farmers & Merchants Investments Inc. increased its position in Ingersoll Rand by 54.4% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 488 shares of the industrial products company's stock valued at $39,000 after purchasing an additional 172 shares during the period. Finally, Lee Danner & Bass Inc. bought a new position in Ingersoll Rand in the 4th quarter worth $42,000. 95.27% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
IR has been the topic of several research analyst reports. Wells Fargo & Company boosted their price target on shares of Ingersoll Rand from $80.00 to $86.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Barclays lowered their target price on Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Stifel Nicolaus reduced their price target on Ingersoll Rand from $94.00 to $77.00 and set a "hold" rating on the stock in a research note on Monday, April 14th. Finally, Citigroup increased their price objective on Ingersoll Rand from $88.00 to $91.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $97.80.
Check Out Our Latest Report on IR
Ingersoll Rand Stock Down 0.8%
Shares of NYSE:IR traded down $0.64 on Friday, hitting $84.30. 2,878,105 shares of the company traded hands, compared to its average volume of 2,545,511. The stock has a 50 day simple moving average of $80.10 and a 200-day simple moving average of $84.12. The company has a quick ratio of 1.76, a current ratio of 2.38 and a debt-to-equity ratio of 0.45. The company has a market cap of $34.01 billion, a PE ratio of 41.73, a PEG ratio of 3.31 and a beta of 1.44. Ingersoll Rand Inc. has a 52 week low of $65.61 and a 52 week high of $106.03.
Ingersoll Rand (NYSE:IR - Get Free Report) last issued its 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). Ingersoll Rand had a return on equity of 12.33% and a net margin of 11.30%. The firm 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. The firm's quarterly revenue was up 2.8% on a year-over-year basis. As a group, research analysts expect that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.
Ingersoll Rand Announces Dividend
The firm also recently announced 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 was Thursday, May 15th. This represents a $0.08 annualized dividend and a yield of 0.09%. Ingersoll Rand's dividend payout ratio is 3.96%.
Ingersoll Rand declared that its board has authorized a share buyback plan 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 purchase up to 3.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its shares are undervalued.
Insiders Place Their Bets
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 of the company's stock, 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 can be accessed through this link. Also, insider Vicente Reynal sold 38,657 shares of the company'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 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.59% of the company's stock.
Ingersoll Rand Company Profile
(
Free Report)
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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