Ingersoll Rand Inc. (NYSE:IR) Shares Sold by Strategic Investment Advisors MI

Strategic Investment Advisors MI lessened its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 2.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,615 shares of the industrial products company’s stock after selling 150 shares during the quarter. Strategic Investment Advisors MI’s holdings in Ingersoll Rand were worth $449,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Global Wealth Strategies & Associates increased its holdings in shares of Ingersoll Rand by 325.0% in the first quarter. Global Wealth Strategies & Associates now owns 374 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 286 shares during the last quarter. Murphy & Mullick Capital Management Corp purchased a new stake in Ingersoll Rand in the 4th quarter valued at $36,000. OFI Invest Asset Management acquired a new stake in shares of Ingersoll Rand in the 4th quarter worth $38,000. Lee Danner & Bass Inc. acquired a new stake in shares of Ingersoll Rand in the 4th quarter worth $42,000. Finally, Farmers & Merchants Investments Inc. raised its holdings 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 worth $39,000 after acquiring an additional 172 shares during the period. Institutional investors and hedge funds own 95.27% of the company’s stock.

Insider Transactions at Ingersoll Rand

In related news, insider Vicente Reynal sold 38,657 shares of Ingersoll Rand stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $83.03, for a total value of $3,209,690.71. Following the completion of the transaction, the insider now directly owns 193,186 shares in the company, valued at approximately $16,040,233.58. This trade represents a 16.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Elizabeth Meloy Hepding sold 3,500 shares of the business’s stock in a transaction on 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 directly owns 10,986 shares of the company’s stock, valued at $920,407.08. The trade was a 24.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.59% of the company’s stock.

Analysts Set New Price Targets

IR has been the subject of several recent analyst reports. Stifel Nicolaus cut their price objective 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 raised their price target on shares of Ingersoll Rand from $80.00 to $86.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. Citigroup lifted their price target on shares of Ingersoll Rand from $88.00 to $91.00 and gave the company a “buy” rating in a research report on Monday, May 5th. Finally, Barclays lowered their price objective on Ingersoll Rand from $93.00 to $85.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.80.

Ingersoll Rand Stock Down 0.3%

Ingersoll Rand stock opened at $83.41 on Thursday. The company has a market capitalization of $33.65 billion, a PE ratio of 41.29, a price-to-earnings-growth ratio of 3.33 and a beta of 1.44. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.76 and a current ratio of 2.38. Ingersoll Rand Inc. has a fifty-two week low of $65.61 and a fifty-two week high of $106.03. The firm has a 50 day moving average price of $79.84 and a 200 day moving average price of $84.24.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings data 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). The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.73 billion. Ingersoll Rand had a net margin of 11.30% and a return on equity of 12.33%. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.78 earnings per share. Research analysts expect that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand declared that its Board of Directors has initiated a stock repurchase plan on Thursday, May 1st that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the industrial products company to buy up to 3.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Ingersoll Rand Announces Dividend

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

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.