Mirae Asset Global Investments Co. Ltd. Purchases 4,899 Shares of Ingersoll Rand Inc. (NYSE:IR)

Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 11.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 46,988 shares of the industrial products company's stock after purchasing an additional 4,899 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Ingersoll Rand were worth $3,733,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Global Wealth Strategies & Associates raised 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 worth $30,000 after buying an additional 286 shares in the last quarter. Murphy & Mullick Capital Management Corp bought a new stake in Ingersoll Rand in the fourth quarter valued at $36,000. OFI Invest Asset Management acquired a new position in Ingersoll Rand during the fourth quarter worth $38,000. Golden State Wealth Management LLC lifted its holdings in shares of Ingersoll Rand by 190.9% during the first quarter. Golden State Wealth Management LLC now owns 477 shares of the industrial products company's stock valued at $38,000 after acquiring an additional 313 shares during the period. Finally, Farmers & Merchants Investments Inc. boosted its stake 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 purchasing an additional 172 shares in the last quarter. Institutional investors and hedge funds own 95.27% of the company's stock.

Ingersoll Rand Trading Up 1.4%

Shares of IR stock traded up $1.16 on Wednesday, reaching $86.46. 2,594,509 shares of the stock were exchanged, compared to its average volume of 2,552,867. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.38 and a quick ratio of 1.76. Ingersoll Rand Inc. has a one year low of $65.61 and a one year high of $106.03. The stock has a market cap of $34.88 billion, a PE ratio of 42.80, a P/E/G ratio of 3.31 and a beta of 1.43. The stock has a 50 day moving average price of $80.87 and a 200 day moving average price of $83.64.

Ingersoll Rand (NYSE:IR - Get Free Report) last announced 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 firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the previous year, the business earned $0.78 earnings per share. Ingersoll Rand's revenue for the quarter was up 2.8% compared to the same quarter last year. Equities research analysts forecast that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The firm also recently disclosed 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 has initiated a stock buyback program on Thursday, May 1st that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the industrial products company to purchase up to 3.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

IR has been the subject of several analyst reports. Wells Fargo & Company lifted their price target on shares of Ingersoll Rand from $86.00 to $95.00 and gave the company an "overweight" rating in a report on Tuesday. Barclays cut their target price on shares of Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Citigroup increased their price target on Ingersoll Rand from $88.00 to $91.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Finally, Stifel Nicolaus cut their price objective on Ingersoll Rand from $94.00 to $77.00 and set a "hold" rating for the company in a research report on Monday, April 14th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $98.70.

Insider Buying and Selling

In other Ingersoll Rand news, insider Vicente Reynal sold 38,657 shares of Ingersoll Rand stock in a transaction 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 completion of the sale, the insider owned 193,186 shares of the company's stock, valued at approximately $16,040,233.58. The trade was a 16.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $293,230.00. Following the completion of the transaction, the insider directly owned 10,986 shares in the company, valued at approximately $920,407.08. This trade represents a 24.16% decrease in their position. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by company insiders.

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.