Liberty Wealth Management LLC Takes Position in Ingersoll Rand Inc. (NYSE:IR)

Key Points

• Liberty Wealth Management LLC has made a new investment of approximately $1.55 million in Ingersoll Rand Inc., acquiring 19,418 shares in the company during the first quarter.
• Ingersoll Rand recently reported $1.89 billion in revenue for the quarter and matched the consensus estimate with $0.80 earnings per share.
• The company approved a $1.00 billion share repurchase plan indicating management's confidence in the stock's value, with 95.27% of the shares owned by institutional investors.

Liberty Wealth Management LLC acquired a new stake in Ingersoll Rand Inc. (NYSE:IR - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 19,418 shares of the industrial products company's stock, valued at approximately $1,554,000.

A number of other large investors have also bought and sold shares of IR. Schroder Investment Management Group lifted its holdings in Ingersoll Rand by 16.6% during the 4th quarter. Schroder Investment Management Group now owns 34,374 shares of the industrial products company's stock valued at $3,112,000 after purchasing an additional 4,888 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Ingersoll Rand by 1.6% during the fourth quarter. Wells Fargo & Company MN now owns 423,233 shares of the industrial products company's stock worth $38,286,000 after buying an additional 6,641 shares during the last quarter. Resona Asset Management Co. Ltd. bought a new position in shares of Ingersoll Rand during the fourth quarter valued at $11,024,000. Wedbush Securities Inc. lifted its stake in shares of Ingersoll Rand by 38.2% in the fourth quarter. Wedbush Securities Inc. now owns 9,100 shares of the industrial products company's stock worth $823,000 after acquiring an additional 2,516 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in Ingersoll Rand by 9.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 285,339 shares of the industrial products company's stock valued at $25,812,000 after acquiring an additional 25,128 shares during the last quarter. 95.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Melius Research set a $93.00 target price on shares of Ingersoll Rand in a research note on Monday, July 14th. Barclays reduced their price target on Ingersoll Rand from $92.00 to $91.00 and set an "overweight" rating on the stock in a research report on Monday. Melius cut Ingersoll Rand from a "buy" rating to a "hold" rating and set a $93.00 price target for the company. in a research report on Monday, July 14th. Robert W. Baird increased their price objective on shares of Ingersoll Rand from $97.00 to $103.00 and gave the company an "outperform" rating in a report on Monday. Finally, Stifel Nicolaus set a $78.00 price target on shares of Ingersoll Rand and gave the company a "hold" rating in a research report on Monday. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $98.75.

Ingersoll Rand Price Performance

NYSE:IR traded down $0.22 during trading hours on Thursday, reaching $76.26. The stock had a trading volume of 2,366,772 shares, compared to its average volume of 2,981,470. Ingersoll Rand Inc. has a 52 week low of $65.61 and a 52 week high of $106.03. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.63 and a current ratio of 2.29. The stock has a market capitalization of $30.31 billion, a PE ratio of 59.58, a PEG ratio of 4.43 and a beta of 1.41. The company has a 50 day moving average price of $83.95 and a two-hundred day moving average price of $82.60.

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

Ingersoll Rand announced that its board has authorized a stock repurchase program on Thursday, May 1st that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the industrial products company to repurchase up to 3.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board of directors believes its shares are undervalued.

Ingersoll Rand Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors 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 dividend yield of 0.1%. The ex-dividend date is Thursday, August 14th. Ingersoll Rand's dividend payout ratio (DPR) is presently 6.25%.

Insider Activity

In other Ingersoll Rand news, insider Elizabeth Meloy Hepding sold 3,500 shares of the business's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $83.78, for a total value of $293,230.00. Following the transaction, the insider owned 10,986 shares in the company, valued at $920,407.08. The trade was a 24.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Vicente Reynal sold 38,657 shares of the firm's stock in a transaction on Tuesday, May 20th. The stock was 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 disclosure for this sale can be found here. Company 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.