Y Intercept Hong Kong Ltd Buys New Shares in Ingersoll Rand Inc. (NYSE:IR)

Y Intercept Hong Kong Ltd purchased a new stake in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund purchased 13,570 shares of the industrial products company's stock, valued at approximately $1,086,000.

A number of other hedge funds have also added to or reduced their stakes in IR. Capital International Investors raised its holdings in shares of Ingersoll Rand by 4.6% in the 4th quarter. Capital International Investors now owns 36,673,865 shares of the industrial products company's stock worth $3,317,537,000 after purchasing an additional 1,606,363 shares during the period. Capital World Investors raised its holdings in Ingersoll Rand by 1.0% during the 4th quarter. Capital World Investors now owns 20,088,857 shares of the industrial products company's stock valued at $1,817,238,000 after acquiring an additional 197,711 shares during the period. JPMorgan Chase & Co. raised its holdings in Ingersoll Rand by 3.6% during the 4th quarter. JPMorgan Chase & Co. now owns 18,878,280 shares of the industrial products company's stock valued at $1,707,729,000 after acquiring an additional 649,102 shares during the period. FMR LLC raised its holdings in Ingersoll Rand by 8.2% during the 4th quarter. FMR LLC now owns 17,472,317 shares of the industrial products company's stock valued at $1,580,546,000 after acquiring an additional 1,320,223 shares during the period. Finally, Franklin Resources Inc. raised its holdings in Ingersoll Rand by 5.9% during the 4th quarter. Franklin Resources Inc. now owns 12,277,177 shares of the industrial products company's stock valued at $1,110,593,000 after acquiring an additional 679,856 shares during the period. Institutional investors and hedge funds own 95.27% of the company's stock.

Ingersoll Rand Stock Down 0.0%

IR traded down $0.03 on Monday, hitting $88.25. The company had a trading volume of 308,663 shares, compared to its average volume of 2,864,136. Ingersoll Rand Inc. has a 52-week low of $65.61 and a 52-week high of $106.03. The stock has a fifty day simple moving average of $83.96 and a 200-day simple moving average of $82.95. The firm has a market capitalization of $35.60 billion, a P/E ratio of 43.73, a P/E/G ratio of 3.71 and a beta of 1.43. 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 announced its quarterly earnings results on Thursday, May 1st. The industrial products company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.02). Ingersoll Rand had a net margin of 11.30% and a return on equity of 12.33%. The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period last year, the business earned $0.78 EPS. Ingersoll Rand's revenue was up 2.8% on a year-over-year basis. As a group, equities analysts expect that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand declared that its board has authorized a share repurchase 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 buy up to 3.3% of its stock through open market purchases. Stock buyback plans are often an indication 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. Stockholders of record on Thursday, August 14th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. The ex-dividend date is Thursday, August 14th. Ingersoll Rand's dividend payout ratio is presently 3.96%.

Insider Buying and Selling at Ingersoll Rand

In related news, insider Elizabeth Meloy Hepding sold 3,500 shares of Ingersoll Rand stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $83.78, for a total transaction of $293,230.00. Following the transaction, the insider owned 10,986 shares in the company, valued at approximately $920,407.08. The trade was a 24.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Vicente Reynal sold 38,657 shares of Ingersoll Rand stock in a transaction on 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 transaction, the insider 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 disclosure for this sale can be found here. Company insiders own 0.68% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Barclays upped their target price on shares of Ingersoll Rand from $85.00 to $92.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 9th. Melius lowered Ingersoll Rand from a "buy" rating to a "hold" rating and set a $93.00 price target for the company. in a research note on Monday, July 14th. Stifel Nicolaus lifted their price target on Ingersoll Rand from $78.00 to $95.00 and gave the stock a "hold" rating in a research note on Monday, July 21st. Melius Research set a $93.00 price target on shares of Ingersoll Rand in a research report on Monday, July 14th. Finally, Citigroup reiterated 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. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target 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.