US Bancorp DE Decreases Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

Key Points

• US Bancorp DE reduced its stake in Ingersoll Rand Inc. by 8.7% during Q1, holding 40,933 shares valued at $3.28 million after selling 3,900 shares.
• Ingersoll Rand recently initiated a $1 billion stock repurchase program, indicating the board's belief that the stock is undervalued.
• The company's quarterly earnings report showed an EPS of $0.80, meeting expectations, with revenue rising 4.6% year-over-year to $1.89 billion.

US Bancorp DE cut its position in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 8.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 40,933 shares of the industrial products company's stock after selling 3,900 shares during the quarter. US Bancorp DE's holdings in Ingersoll Rand were worth $3,276,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Compass Wealth Management LLC boosted its holdings in shares of Ingersoll Rand by 62.8% in the 1st quarter. Compass Wealth Management LLC now owns 355 shares of the industrial products company's stock worth $28,000 after buying an additional 137 shares during the last quarter. Global Wealth Strategies & Associates raised its position in Ingersoll Rand by 325.0% in the first quarter. Global Wealth Strategies & Associates now owns 374 shares of the industrial products company's stock worth $30,000 after acquiring an additional 286 shares during the period. Golden State Wealth Management LLC boosted its stake in Ingersoll Rand by 190.9% in the first quarter. Golden State Wealth Management LLC now owns 477 shares of the industrial products company's stock valued at $38,000 after acquiring an additional 313 shares during the last quarter. Farmers & Merchants Investments Inc. grew its position in shares of Ingersoll Rand by 54.4% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 488 shares of the industrial products company's stock valued at $39,000 after acquiring an additional 172 shares during the period. Finally, Larson Financial Group LLC increased its stake in shares of Ingersoll Rand by 136.4% during the 1st quarter. Larson Financial Group LLC now owns 494 shares of the industrial products company's stock worth $39,000 after purchasing an additional 285 shares during the last quarter. 95.27% of the stock is owned by institutional investors.

Ingersoll Rand Price Performance

Shares of NYSE IR traded down $1.13 during mid-day trading on Wednesday, reaching $76.52. 4,007,051 shares of the company were exchanged, compared to its average volume of 3,499,036. Ingersoll Rand Inc. has a 52 week low of $65.61 and a 52 week high of $106.03. The company's 50 day moving average price is $84.05 and its 200 day moving average price is $82.65. The stock has a market capitalization of $30.41 billion, a PE ratio of 59.78, a PEG ratio of 4.43 and a beta of 1.41. The company has a quick ratio of 1.63, a current ratio of 2.29 and a debt-to-equity ratio of 0.47.

Ingersoll Rand (NYSE:IR - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The industrial products company reported $0.80 EPS for the quarter, meeting the consensus estimate of $0.80. The firm 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 12.12% and a net margin of 7.10%. The company's revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.83 EPS. Sell-side analysts forecast that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand declared that its Board of Directors has initiated a stock repurchase program 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 stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its shares are undervalued.

Ingersoll Rand Dividend Announcement

The firm 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. This represents a $0.08 annualized dividend and a yield of 0.1%. The ex-dividend date is Thursday, August 14th. Ingersoll Rand's dividend payout ratio is presently 6.25%.

Insider Activity

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

Analyst Upgrades and Downgrades

IR has been the topic of several research analyst reports. Melius downgraded Ingersoll Rand from a "buy" rating to a "hold" rating and set a $93.00 price objective on the stock. in a research note on Monday, July 14th. Stifel Nicolaus dropped their price target on Ingersoll Rand from $95.00 to $78.00 and set a "hold" rating on the stock in a research report on Monday. Barclays cut their price target on Ingersoll Rand from $92.00 to $91.00 and set an "overweight" rating for the company in a research note on Monday. Robert W. Baird boosted their price objective on Ingersoll Rand from $97.00 to $103.00 and gave the company an "outperform" rating in a research note on Monday. Finally, Wells Fargo & Company increased their target price on shares of Ingersoll Rand from $86.00 to $95.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $98.75.

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.