National Pension Service Boosts Stock Holdings in Ingersoll Rand Inc. $IR

Key Points

• The National Pension Service increased its stake in Ingersoll Rand Inc. by 17.0%, totaling approximately $47.8 million with 597,286 shares owned.
• Ingersoll Rand's insider Vicente Reynal sold 38,657 shares, marking a 16.67% decrease in his position, valued at approximately $3.2 million.
• Analysts maintain a consensus rating of "Hold" on Ingersoll Rand, with a current price target averaging $97.75 per share.

National Pension Service lifted its holdings in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 17.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 597,286 shares of the industrial products company's stock after acquiring an additional 86,828 shares during the period. National Pension Service owned approximately 0.15% of Ingersoll Rand worth $47,801,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Compass Wealth Management LLC grew its stake in Ingersoll Rand by 62.8% during the first quarter. Compass Wealth Management LLC now owns 355 shares of the industrial products company's stock worth $28,000 after buying an additional 137 shares in the last quarter. Global Wealth Strategies & Associates lifted its holdings in shares of Ingersoll Rand by 325.0% in the first quarter. Global Wealth Strategies & Associates now owns 374 shares of the industrial products company's stock worth $30,000 after acquiring an additional 286 shares during the last quarter. Golden State Wealth Management LLC lifted its holdings in shares of Ingersoll Rand by 190.9% in the first 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 last quarter. Farmers & Merchants Investments Inc. lifted its holdings in shares of Ingersoll Rand by 54.4% in the first quarter. Farmers & Merchants Investments Inc. now owns 488 shares of the industrial products company's stock worth $39,000 after acquiring an additional 172 shares during the last quarter. Finally, Larson Financial Group LLC lifted its holdings in shares of Ingersoll Rand by 136.4% in the first quarter. Larson Financial Group LLC now owns 494 shares of the industrial products company's stock worth $39,000 after acquiring an additional 285 shares during the last quarter. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Ingersoll Rand Trading Up 0.9%

Ingersoll Rand stock traded up $0.68 during mid-day trading on Monday, hitting $79.00. 2,286,115 shares of the stock were exchanged, compared to its average volume of 2,967,570. The company has a quick ratio of 1.63, a current ratio of 2.29 and a debt-to-equity ratio of 0.47. Ingersoll Rand Inc. has a 12 month low of $65.61 and a 12 month high of $106.03. The firm's fifty day simple moving average is $83.40 and its two-hundred day simple moving average is $81.74. The stock has a market capitalization of $31.40 billion, a price-to-earnings ratio of 61.72, a PEG ratio of 4.42 and a beta of 1.41.

Ingersoll Rand (NYSE:IR - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The industrial products company reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. The company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.85 billion. Ingersoll Rand had a net margin of 7.10% and a return on equity of 12.12%. Ingersoll Rand's revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.83 EPS. Analysts forecast that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 14th will be given a $0.02 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $0.08 annualized dividend and a yield of 0.1%. Ingersoll Rand's dividend payout ratio (DPR) is presently 6.25%.

Ingersoll Rand declared that its board has initiated a share buyback program on Thursday, May 1st that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the industrial products company to repurchase up to 3.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

IR has been the subject of a number of research reports. Barclays dropped their target price on shares of Ingersoll Rand from $92.00 to $91.00 and set an "overweight" rating for the company in a report on Monday, August 4th. Citigroup reissued a "buy" rating and issued a $104.00 target price (up previously from $91.00) on shares of Ingersoll Rand in a report on Monday, July 14th. Melius lowered shares of Ingersoll Rand from a "buy" rating to a "hold" rating and set a $93.00 price objective for the company. in a report on Monday, July 14th. Melius Research set a $93.00 price objective on shares of Ingersoll Rand in a report on Monday, July 14th. Finally, Wells Fargo & Company raised their price objective on shares of Ingersoll Rand from $86.00 to $95.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, Ingersoll Rand presently has a consensus rating of "Hold" and an average price target of $97.75.

Insider Transactions at Ingersoll Rand

In related 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 value 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. This trade represents a 16.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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.