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

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

A number of other institutional investors and hedge funds also recently modified their holdings of IR. Global Wealth Strategies & Associates raised its position in shares of Ingersoll Rand by 325.0% during the first 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 purchased a new stake in Ingersoll Rand in the 4th quarter worth about $36,000. OFI Invest Asset Management purchased a new stake in Ingersoll Rand in the 4th quarter worth about $38,000. Farmers & Merchants Investments Inc. lifted its stake in 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 acquiring an additional 172 shares in the last quarter. Finally, Lee Danner & Bass Inc. purchased a new stake in Ingersoll Rand in the 4th quarter worth about $42,000. 95.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Ingersoll Rand Stock Down 0.5%

IR opened at $80.40 on Friday. Ingersoll Rand Inc. has a fifty-two week low of $65.61 and a fifty-two week high of $106.03. The business has a 50-day moving average of $79.21 and a 200-day moving average of $84.52. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.38 and a quick ratio of 1.76. The company has a market capitalization of $32.44 billion, a PE ratio of 39.80, a price-to-earnings-growth ratio of 3.20 and a beta of 1.44.

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

Ingersoll Rand Announces Dividend

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

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

Insider Activity

In other news, insider Elizabeth Meloy Hepding sold 3,500 shares of the stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $83.78, for a total transaction 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 represents a 24.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Vicente Reynal sold 38,657 shares of the stock in a transaction dated 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. This represents a 16.67% decrease in their position. The disclosure for this sale can be found here. 0.59% of the stock is currently owned by insiders.

Ingersoll Rand 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.

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