Sowell Financial Services LLC Invests $262,000 in Ingersoll Rand Inc. (NYSE:IR)

Sowell Financial Services LLC bought a new position in Ingersoll Rand Inc. (NYSE:IR - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 3,268 shares of the industrial products company's stock, valued at approximately $262,000.

Other institutional investors have also made changes to their positions in the company. Principal Securities Inc. grew its holdings in shares of Ingersoll Rand by 36.9% during the fourth quarter. Principal Securities Inc. now owns 5,476 shares of the industrial products company's stock valued at $495,000 after purchasing an additional 1,477 shares during the last quarter. Sanctuary Advisors LLC boosted its position in Ingersoll Rand by 2.6% during the 4th quarter. Sanctuary Advisors LLC now owns 22,798 shares of the industrial products company's stock valued at $2,143,000 after purchasing an additional 575 shares during the period. D.A. Davidson & CO. grew its stake in Ingersoll Rand by 8.4% during the 4th quarter. D.A. Davidson & CO. now owns 4,144 shares of the industrial products company's stock worth $375,000 after buying an additional 321 shares during the last quarter. Venturi Wealth Management LLC acquired a new stake in Ingersoll Rand in the fourth quarter worth $99,000. Finally, Atria Wealth Solutions Inc. lifted its stake in Ingersoll Rand by 62.1% in the fourth quarter. Atria Wealth Solutions Inc. now owns 10,959 shares of the industrial products company's stock valued at $991,000 after buying an additional 4,197 shares during the last quarter. 95.27% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Elizabeth Meloy Hepding sold 3,500 shares of Ingersoll Rand stock in a transaction dated 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 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 document filed with the SEC, which can be accessed through this hyperlink. Also, insider Vicente Reynal sold 38,657 shares of the company's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $83.03, for a total transaction of $3,209,690.71. Following the sale, the insider now directly owns 193,186 shares of the company's stock, valued at $16,040,233.58. This represents a 16.67% 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.

Ingersoll Rand Price Performance

NYSE:IR traded down $0.28 during midday trading on Wednesday, hitting $83.41. 1,650,264 shares of the stock were exchanged, compared to its average volume of 2,548,611. The company has a market capitalization of $33.65 billion, a price-to-earnings ratio of 41.29, a P/E/G ratio of 3.33 and a beta of 1.44. The company has a current ratio of 2.38, a quick ratio of 1.76 and a debt-to-equity ratio of 0.45. Ingersoll Rand Inc. has a one year low of $65.61 and a one year high of $106.03. The business has a 50-day moving average price of $79.60 and a two-hundred day moving average price of $84.24.

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

Ingersoll Rand announced that its board has initiated a share buyback 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 reacquire up to 3.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Ingersoll Rand Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on IR. Citigroup upped their price target on shares of Ingersoll Rand from $88.00 to $91.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Stifel Nicolaus decreased their target price on shares of Ingersoll Rand from $94.00 to $77.00 and set a "hold" rating for the company in a research report on Monday, April 14th. Wells Fargo & Company boosted 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, Barclays lowered their target price 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. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Ingersoll Rand presently has an average rating of "Moderate Buy" and an average target price of $97.80.

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.