Running Oak Capital LLC Acquires 33,684 Shares of Ingersoll Rand Inc. (NYSE:IR)

Running Oak Capital LLC boosted its stake in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 23.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 178,988 shares of the industrial products company's stock after purchasing an additional 33,684 shares during the period. Running Oak Capital LLC's holdings in Ingersoll Rand were worth $14,324,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Global Wealth Strategies & Associates increased its stake in 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 purchasing an additional 286 shares during the period. Murphy & Mullick Capital Management Corp bought a new stake in shares of Ingersoll Rand in the 4th quarter worth approximately $36,000. OFI Invest Asset Management bought a new stake in shares of Ingersoll Rand in the 4th quarter worth approximately $38,000. Lee Danner & Bass Inc. bought a new stake in shares of Ingersoll Rand in the 4th quarter worth approximately $42,000. Finally, Farmers & Merchants Investments Inc. grew its position 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 worth $39,000 after buying an additional 172 shares during the last quarter. 95.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on IR shares. Barclays cut their price objective on Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Stifel Nicolaus cut their price objective on Ingersoll Rand from $94.00 to $77.00 and set a "hold" rating on the stock in a research report on Monday, April 14th. Wells Fargo & Company lifted their price objective on Ingersoll Rand from $80.00 to $86.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Finally, Citigroup lifted their price objective on Ingersoll Rand from $88.00 to $91.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Ingersoll Rand has a consensus rating of "Moderate Buy" and an average price target of $97.80.

Ingersoll Rand Stock Down 0.5%

Shares of NYSE IR traded down $0.39 during mid-day trading on Friday, hitting $80.40. 2,895,961 shares of the stock traded hands, compared to its average volume of 2,558,978. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.76 and a current ratio of 2.38. Ingersoll Rand Inc. has a 52 week low of $65.61 and a 52 week high of $106.03. The company has a market cap of $32.44 billion, a price-to-earnings ratio of 39.80, a PEG ratio of 3.20 and a beta of 1.44. The stock has a fifty day moving average price of $79.21 and a 200-day moving average price of $84.39.

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

Ingersoll Rand Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Thursday, May 15th were issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.10%. The ex-dividend date of this dividend was Thursday, May 15th. Ingersoll Rand's dividend payout ratio (DPR) is 3.96%.

Ingersoll Rand declared that its Board of Directors has initiated a share repurchase plan on Thursday, May 1st that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the industrial products company to purchase up to 3.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other Ingersoll Rand news, insider Elizabeth Meloy Hepding sold 3,500 shares of the business's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $83.78, for a total value of $293,230.00. Following the sale, the insider now directly owns 10,986 shares of the company's stock, valued at approximately $920,407.08. The trade was a 24.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Vicente Reynal sold 38,657 shares of the company's 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 transaction, the insider now directly owns 193,186 shares in the company, valued at approximately $16,040,233.58. The trade was a 16.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company's stock.

Ingersoll Rand Company 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.