Wealthfront Advisers LLC raised its position in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 16.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 30,661 shares of the industrial products company's stock after purchasing an additional 4,301 shares during the quarter. Wealthfront Advisers LLC's holdings in Ingersoll Rand were worth $2,454,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Compass Wealth Management LLC boosted its stake in Ingersoll Rand by 62.8% during the 1st quarter. Compass Wealth Management LLC now owns 355 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 137 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in Ingersoll Rand by 8.6% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,825 shares of the industrial products company's stock valued at $165,000 after purchasing an additional 145 shares in the last quarter. Arrow Financial Corp lifted its position in shares of Ingersoll Rand by 0.5% during the 4th quarter. Arrow Financial Corp now owns 32,343 shares of the industrial products company's stock valued at $2,926,000 after acquiring an additional 149 shares during the last quarter. GeoWealth Management LLC lifted its position in shares of Ingersoll Rand by 10.2% during the 4th quarter. GeoWealth Management LLC now owns 1,726 shares of the industrial products company's stock valued at $156,000 after acquiring an additional 160 shares during the last quarter. Finally, CWM LLC lifted its position in shares of Ingersoll Rand by 1.5% during the 1st quarter. CWM LLC now owns 10,655 shares of the industrial products company's stock valued at $853,000 after acquiring an additional 161 shares during the last quarter. 95.27% of the stock is owned by institutional investors.
Insider Buying and Selling at Ingersoll Rand
In related news, insider Vicente Reynal sold 38,657 shares of the business's stock in a transaction on 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 sale, the insider directly owned 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Elizabeth Meloy Hepding sold 3,500 shares of the business'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 sale, the insider directly 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 equities research analysts have recently commented on IR shares. Wells Fargo & Company increased their price objective on Ingersoll Rand from $86.00 to $95.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Citigroup reiterated a "buy" rating and set a $104.00 price objective (up previously from $91.00) on shares of Ingersoll Rand in a research report on Monday, July 14th. Barclays increased their price objective on Ingersoll Rand from $85.00 to $92.00 and gave the company an "overweight" rating in a research report on Wednesday, July 9th. Melius Research set a $93.00 price objective on Ingersoll Rand in a report on Monday, July 14th. Finally, Melius lowered Ingersoll Rand from a "buy" rating to a "hold" rating and set a $93.00 price objective for the company. in a report on Monday, July 14th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $99.42.
View Our Latest Stock Analysis on IR
Ingersoll Rand Stock Performance
Shares of NYSE IR traded down $2.20 during mid-day trading on Friday, hitting $85.55. The company had a trading volume of 4,273,660 shares, compared to its average volume of 2,596,041. 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 business's 50-day simple moving average is $83.71 and its 200-day simple moving average is $83.14. Ingersoll Rand Inc. has a 12 month low of $65.61 and a 12 month high of $106.03. The firm has a market cap of $34.52 billion, a P/E ratio of 42.35, a PEG ratio of 3.61 and a beta of 1.43.
Ingersoll Rand (NYSE:IR - Get Free Report) last posted its earnings results on Thursday, May 1st. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.74 by ($0.02). The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.73 billion. Ingersoll Rand had a net margin of 11.30% and a return on equity of 12.33%. The business's revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.78 EPS. As a group, analysts predict 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 approved a share buyback 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 reacquire up to 3.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board believes its shares are undervalued.
Ingersoll Rand Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 15th were given a $0.02 dividend. The ex-dividend date was Thursday, May 15th. This represents a $0.08 annualized dividend and a yield of 0.09%. Ingersoll Rand's dividend payout ratio is currently 3.96%.
About Ingersoll Rand
(
Free Report)
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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