Moran Wealth Management LLC trimmed its position in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 1.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 183,927 shares of the industrial products company's stock after selling 3,337 shares during the quarter. Moran Wealth Management LLC's holdings in Ingersoll Rand were worth $14,720,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Ingersoll Rand during the fourth quarter worth about $429,591,000. Capital International Investors lifted its position in shares of Ingersoll Rand by 4.6% during the 4th quarter. Capital International Investors now owns 36,673,865 shares of the industrial products company's stock valued at $3,317,537,000 after buying an additional 1,606,363 shares during the last quarter. FMR LLC increased its stake in shares of Ingersoll Rand by 8.2% in the fourth quarter. FMR LLC now owns 17,472,317 shares of the industrial products company's stock worth $1,580,546,000 after purchasing an additional 1,320,223 shares in the last quarter. GAMMA Investing LLC grew its stake in Ingersoll Rand by 7,137.0% in the 1st quarter. GAMMA Investing LLC now owns 1,307,370 shares of the industrial products company's stock valued at $1,046,290,000 after buying an additional 1,289,305 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Ingersoll Rand by 5.9% during the 4th quarter. Franklin Resources Inc. now owns 12,277,177 shares of the industrial products company's stock valued at $1,110,593,000 after purchasing an additional 679,856 shares during the period. 95.27% of the stock is currently owned by institutional investors and hedge funds.
Ingersoll Rand Stock Performance
Shares of IR stock traded up $1.81 during mid-day trading on Thursday, reaching $85.09. The stock had a trading volume of 1,679,022 shares, compared to its average volume of 2,545,146. The firm has a market cap of $34.33 billion, a price-to-earnings ratio of 42.12, a PEG ratio of 3.33 and a beta of 1.44. The business's fifty day moving average is $79.84 and its 200-day moving average is $84.24. Ingersoll Rand Inc. has a 1-year low of $65.61 and a 1-year 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.
Ingersoll Rand (NYSE:IR - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The industrial products company reported $0.72 earnings per share (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 period in the prior year, the firm earned $0.78 earnings per share. The business's revenue was up 2.8% on a year-over-year basis. On average, research analysts forecast that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.
Ingersoll Rand Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 15th were issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date of this dividend was Thursday, May 15th. Ingersoll Rand's dividend payout ratio (DPR) is 3.96%.
Ingersoll Rand announced that its board has approved a stock repurchase plan on Thursday, May 1st that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the industrial products company to reacquire up to 3.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on IR shares. Wells Fargo & Company lifted their price objective on shares of Ingersoll Rand from $80.00 to $86.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Barclays decreased their price target on shares of Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Citigroup boosted their price objective on shares of Ingersoll Rand from $88.00 to $91.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Finally, Stifel Nicolaus lowered their price target 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. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $97.80.
Get Our Latest Stock Analysis on IR
Insider Activity at Ingersoll Rand
In other Ingersoll Rand news, insider Vicente Reynal sold 38,657 shares of the stock in a transaction that occurred on 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 transaction, the insider now directly owns 193,186 shares in the company, valued at $16,040,233.58. This represents a 16.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Elizabeth Meloy Hepding sold 3,500 shares of Ingersoll Rand stock in a transaction 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 transaction, the insider now owns 10,986 shares in the company, valued at approximately $920,407.08. This trade represents 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.
About Ingersoll Rand
(
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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