Marks Group Wealth Management Inc Increases Position in Ingersoll Rand Inc. (NYSE:IR)

Marks Group Wealth Management Inc grew its stake in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 10.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 98,135 shares of the industrial products company's stock after acquiring an additional 9,067 shares during the quarter. Marks Group Wealth Management Inc's holdings in Ingersoll Rand were worth $7,854,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IR. Compass Wealth Management LLC boosted its stake in shares of Ingersoll Rand by 62.8% during the 1st quarter. Compass Wealth Management LLC now owns 355 shares of the industrial products company's stock worth $28,000 after purchasing an additional 137 shares during the last quarter. Global Wealth Strategies & Associates lifted its stake in shares of Ingersoll Rand by 325.0% during the first 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 stake in Ingersoll Rand during the fourth quarter worth approximately $36,000. Golden State Wealth Management LLC grew its stake in 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 acquiring an additional 313 shares during the period. Finally, Farmers & Merchants Investments Inc. raised its holdings in 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 acquiring an additional 172 shares during the last quarter. Hedge funds and other institutional investors own 95.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Barclays lifted their price objective on Ingersoll Rand from $85.00 to $92.00 and gave the company an "overweight" rating in a research report on Wednesday. Stifel Nicolaus lowered their price target on Ingersoll Rand from $94.00 to $77.00 and set a "hold" rating for the company in a report on Monday, April 14th. Citigroup upped their price objective on shares of Ingersoll Rand from $88.00 to $91.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Finally, Wells Fargo & Company raised their target price on shares of Ingersoll Rand from $86.00 to $95.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Ingersoll Rand presently has an average rating of "Moderate Buy" and a consensus target price of $99.40.

Insider Activity

In other Ingersoll Rand news, insider Vicente Reynal sold 38,657 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $83.03, for a total value of $3,209,690.71. Following the completion of the transaction, the insider owned 193,186 shares in the company, valued at $16,040,233.58. This represents a 16.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Elizabeth Meloy Hepding sold 3,500 shares of the stock in a transaction that occurred 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 completion of the sale, 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 position. The disclosure for this sale can be found here. Company insiders own 0.59% of the company's stock.

Ingersoll Rand Trading Up 0.4%

Shares of NYSE IR traded up $0.32 during midday trading on Friday, hitting $89.01. The stock had a trading volume of 2,286,802 shares, compared to its average volume of 2,588,358. The company has a quick ratio of 1.76, a current ratio of 2.38 and a debt-to-equity ratio of 0.45. Ingersoll Rand Inc. has a 1-year low of $65.61 and a 1-year high of $106.03. The company has a market capitalization of $35.91 billion, a price-to-earnings ratio of 44.06, a PEG ratio of 3.76 and a beta of 1.43. The company has a fifty day moving average price of $82.83 and a 200 day moving average price of $83.29.

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

Ingersoll Rand Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 15th were issued a $0.02 dividend. 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 currently 3.96%.

Ingersoll Rand declared that its Board of Directors has authorized a stock repurchase plan on Thursday, May 1st that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the industrial products company to repurchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.

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.