Sheaff Brock Investment Advisors LLC Purchases New Stake in Ingersoll Rand Inc. (NYSE:IR)

Sheaff Brock Investment Advisors LLC bought a new position in Ingersoll Rand Inc. (NYSE:IR - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm bought 3,165 shares of the industrial products company's stock, valued at approximately $253,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. First National Advisers LLC grew its holdings in shares of Ingersoll Rand by 127.3% during the 1st quarter. First National Advisers LLC now owns 37,001 shares of the industrial products company's stock worth $2,961,000 after purchasing an additional 20,723 shares during the period. LPL Financial LLC grew its holdings in shares of Ingersoll Rand by 8.2% during the 1st quarter. LPL Financial LLC now owns 764,645 shares of the industrial products company's stock worth $61,194,000 after purchasing an additional 57,759 shares during the period. one8zero8 LLC grew its holdings in shares of Ingersoll Rand by 5.1% during the 1st quarter. one8zero8 LLC now owns 8,557 shares of the industrial products company's stock worth $685,000 after purchasing an additional 418 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Ingersoll Rand by 5.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 202,557 shares of the industrial products company's stock worth $16,211,000 after purchasing an additional 10,406 shares during the period. Finally, Empirical Finance LLC grew its holdings in shares of Ingersoll Rand by 2.6% during the 1st quarter. Empirical Finance LLC now owns 13,295 shares of the industrial products company's stock worth $1,064,000 after purchasing an additional 343 shares during the period. 95.27% of the stock is owned by institutional investors and hedge funds.

Ingersoll Rand Stock Down 11.3%

Shares of NYSE IR traded down $9.54 during midday trading on Friday, hitting $75.09. 12,246,097 shares of the company's stock were exchanged, compared to its average volume of 2,696,997. The company has a market cap of $30.30 billion, a PE ratio of 58.66, a P/E/G ratio of 3.55 and a beta of 1.41. Ingersoll Rand Inc. has a twelve month low of $65.61 and a twelve month high of $106.03. The firm's fifty day simple moving average is $84.19 and its 200-day simple moving average is $82.88. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.38 and a quick ratio of 1.76.

Ingersoll Rand (NYSE:IR - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The industrial products company reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.85 billion. Ingersoll Rand had a return on equity of 12.06% and a net margin of 7.10%. The firm's revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.83 earnings per share. Research analysts predict that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand declared that its Board of Directors has authorized a stock repurchase plan on Thursday, May 1st that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to purchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its stock is undervalued.

Ingersoll Rand Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th will be given a dividend of $0.02 per share. 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 payout ratio is 6.25%.

Insider Activity at Ingersoll Rand

In other Ingersoll Rand news, insider Vicente Reynal sold 38,657 shares of Ingersoll Rand 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 transaction, the insider directly owned 193,186 shares in the company, valued at approximately $16,040,233.58. This trade represents a 16.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Elizabeth Meloy Hepding sold 3,500 shares of Ingersoll Rand stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $83.78, for a total value of $293,230.00. Following the completion of the transaction, the insider owned 10,986 shares in the company, valued at $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. Insiders own 0.59% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on IR. Citigroup restated a "buy" rating and set a $104.00 target price (up from $91.00) on shares of Ingersoll Rand in a report on Monday, July 14th. Stifel Nicolaus raised their target price on Ingersoll Rand from $78.00 to $95.00 and gave the company a "hold" rating in a report on Monday, July 21st. Melius Research set a $93.00 target price on Ingersoll Rand in a report on Monday, July 14th. Wells Fargo & Company raised their target price on Ingersoll Rand from $86.00 to $95.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Finally, Barclays raised their target price on Ingersoll Rand from $85.00 to $92.00 and gave the company an "overweight" rating in a report on Wednesday, July 9th. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $100.92.

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.