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

Running Oak Capital LLC raised its position in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 23.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 178,988 shares of the industrial products company's stock after purchasing an additional 33,684 shares during the quarter. Running Oak Capital LLC's holdings in Ingersoll Rand were worth $14,324,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of IR. Sowell Financial Services LLC bought a new stake in Ingersoll Rand during the first quarter worth approximately $262,000. QRG Capital Management Inc. lifted its position in shares of Ingersoll Rand by 9.4% during the 1st quarter. QRG Capital Management Inc. now owns 7,669 shares of the industrial products company's stock valued at $614,000 after acquiring an additional 660 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Ingersoll Rand by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 45,684,016 shares of the industrial products company's stock worth $4,132,576,000 after acquiring an additional 446,591 shares in the last quarter. Magnetar Financial LLC acquired a new position in shares of Ingersoll Rand in the 4th quarter worth $4,788,000. Finally, Atria Wealth Solutions Inc. raised its position in shares of Ingersoll Rand by 62.1% during the fourth quarter. Atria Wealth Solutions Inc. now owns 10,959 shares of the industrial products company's stock worth $991,000 after purchasing an additional 4,197 shares during the period. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Ingersoll Rand Stock Down 0.3%

Shares of NYSE:IR traded down $0.28 during trading on Wednesday, reaching $83.41. 1,650,264 shares of the company traded hands, compared to its average volume of 2,548,611. The firm has a fifty day simple moving average of $79.60 and a 200 day simple moving average of $84.24. 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 firm has a market cap of $33.65 billion, a P/E ratio of 41.29, a price-to-earnings-growth ratio of 3.33 and a beta of 1.44.

Ingersoll Rand (NYSE:IR - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $1.73 billion. During the same quarter in the prior year, the business posted $0.78 earnings per share. Ingersoll Rand's revenue was up 2.8% on a year-over-year basis. Analysts anticipate that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

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

Ingersoll Rand Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 15th were given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.10%. The ex-dividend date was Thursday, May 15th. Ingersoll Rand's payout ratio is presently 3.96%.

Insider Buying and Selling at Ingersoll Rand

In related news, insider Elizabeth Meloy Hepding sold 3,500 shares of the firm's stock in a transaction that occurred 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 transaction, the insider now directly owns 10,986 shares of the company's stock, valued at approximately $920,407.08. This trade represents a 24.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Vicente Reynal sold 38,657 shares of the business'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 sale, the insider now owns 193,186 shares of the company's stock, valued at approximately $16,040,233.58. This trade represents a 16.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.59% of the company's stock.

Analyst Upgrades and Downgrades

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

About Ingersoll Rand

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.