Ingersoll Rand Inc. (NYSE:IR) Insider Elizabeth Meloy Hepding Sells 3,500 Shares of Stock

Ingersoll Rand Inc. (NYSE:IR) insider Elizabeth Meloy Hepding sold 3,500 shares of the business’s stock in a transaction that occurred 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 owns 10,986 shares in the company, valued at $920,407.08. The trade was a 24.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Ingersoll Rand Trading Down 0.3%

Shares of Ingersoll Rand stock opened at $82.95 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’s fifty day moving average is $76.99 and its two-hundred day moving average is $88.24. The company has a quick ratio of 1.71, a current ratio of 2.29 and a debt-to-equity ratio of 0.46. The firm has a market cap of $33.47 billion, a PE ratio of 40.27, a P/E/G ratio of 3.50 and a beta of 1.42.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings results on Thursday, May 1st. The industrial products company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.02). Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period last year, the firm posted $0.78 earnings per share. The business’s revenue was up 2.8% on a year-over-year basis. Analysts anticipate that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Thursday, May 15th will be paid a $0.02 dividend. The ex-dividend date of this dividend is 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 3.96%.

Ingersoll Rand declared that its board has initiated a share buyback program 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 repurchase up to 3.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

IR has been the subject of a number of recent analyst reports. Evercore ISI reduced their target price on Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Wells Fargo & Company boosted their price objective 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. Stifel Nicolaus dropped their target price on shares of Ingersoll Rand from $94.00 to $77.00 and set a “hold” rating for the company in a report on Monday, April 14th. Barclays decreased their price target on Ingersoll Rand from $93.00 to $85.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Finally, Robert W. Baird lifted their price objective on Ingersoll Rand from $105.00 to $111.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $98.91.

Hedge Funds Weigh In On Ingersoll Rand

Several institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new stake in Ingersoll Rand in the fourth quarter worth about $429,591,000. T. Rowe Price Investment Management Inc. raised its holdings in shares of Ingersoll Rand by 28.8% during the first quarter. T. Rowe Price Investment Management Inc. now owns 17,826,488 shares of the industrial products company’s stock valued at $1,426,654,000 after acquiring an additional 3,989,643 shares during the period. Nuveen LLC purchased a new stake in shares of Ingersoll Rand in the 1st quarter valued at approximately $211,408,000. Price T Rowe Associates Inc. MD grew its position in Ingersoll Rand by 10.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,198,593 shares of the industrial products company’s stock worth $1,536,464,000 after purchasing an additional 1,849,030 shares in the last quarter. Finally, Capital International Investors raised its stake in Ingersoll Rand by 4.6% during the 4th quarter. Capital International Investors now owns 36,673,865 shares of the industrial products company’s stock valued at $3,317,537,000 after purchasing an additional 1,606,363 shares during the period. 95.27% of the stock is owned by institutional investors.

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.