SG Americas Securities LLC Acquires 11,275 Shares of Ingersoll Rand Inc. (NYSE:IR)

SG Americas Securities LLC grew its holdings in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 114.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,107 shares of the industrial products company's stock after purchasing an additional 11,275 shares during the quarter. SG Americas Securities LLC's holdings in Ingersoll Rand were worth $1,689,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in Ingersoll Rand during the fourth quarter valued at $429,591,000. Capital International Investors raised its stake in shares of Ingersoll Rand by 4.6% in the fourth quarter. Capital International Investors now owns 36,673,865 shares of the industrial products company's stock worth $3,317,537,000 after buying an additional 1,606,363 shares during the period. FMR LLC lifted its position in shares of Ingersoll Rand by 8.2% during the 4th quarter. FMR LLC now owns 17,472,317 shares of the industrial products company's stock valued at $1,580,546,000 after buying an additional 1,320,223 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Ingersoll Rand by 7,137.0% during 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 acquiring an additional 1,289,305 shares during the period. Finally, Franklin Resources Inc. increased its holdings in Ingersoll Rand by 5.9% in the 4th quarter. Franklin Resources Inc. now owns 12,277,177 shares of the industrial products company's stock worth $1,110,593,000 after acquiring an additional 679,856 shares in the last quarter. Hedge funds and other institutional investors own 95.27% of the company's stock.

Ingersoll Rand Price Performance

Ingersoll Rand stock traded up $0.13 during midday trading on Thursday, reaching $80.77. 1,778,023 shares of the stock traded hands, compared to its average volume of 2,562,913. The stock has a market cap of $32.59 billion, a P/E ratio of 39.99, a PEG ratio of 3.21 and a beta of 1.44. The stock's fifty day moving average is $78.86 and its 200-day moving average is $84.98. 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 12 month low of $65.61 and a 12 month high of $106.03.

Ingersoll Rand (NYSE:IR - Get Free Report) last issued 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 period last year, the company earned $0.78 earnings per share. The firm's revenue was up 2.8% on a year-over-year basis. As a group, equities research analysts anticipate that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand declared that its Board of Directors has approved a stock repurchase plan 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 purchase up to 3.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

Ingersoll Rand Dividend Announcement

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

Insider Transactions at Ingersoll Rand

In other news, 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 transaction of $3,209,690.71. Following the transaction, the insider now owns 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 document filed with the SEC, which can be accessed through the SEC website. Also, insider Elizabeth Meloy Hepding sold 3,500 shares of the firm'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 completion of the sale, the insider now owns 10,986 shares of the company's stock, valued at approximately $920,407.08. This represents a 24.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.59% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Citigroup lifted their price target on shares of Ingersoll Rand from $88.00 to $91.00 and gave the company a "buy" rating in a report on Monday, May 5th. Wells Fargo & Company upped their target price 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. Stifel Nicolaus decreased their price target on Ingersoll Rand from $94.00 to $77.00 and set a "hold" rating on the stock in a report on Monday, April 14th. Evercore ISI lowered their price objective on Ingersoll Rand from $100.00 to $91.00 and set an "in-line" rating on the stock in a research report on Wednesday, February 19th. Finally, Barclays cut their target price 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. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Ingersoll Rand has an average rating of "Moderate Buy" and an average price target of $98.91.

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.