Ingersoll Rand Inc. (NYSE:IR) Shares Bought by HB Wealth Management LLC

HB Wealth Management LLC increased its holdings in Ingersoll Rand Inc. (NYSE:IR) by 15.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,212 shares of the industrial products company’s stock after purchasing an additional 1,204 shares during the quarter. HB Wealth Management LLC’s holdings in Ingersoll Rand were worth $737,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Capital International Investors raised its holdings in 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% in the 4th quarter. Capital World Investors now owns 20,088,857 shares of the industrial products company’s stock worth $1,817,238,000 after purchasing an additional 197,711 shares during the period. FMR LLC raised its holdings in Ingersoll Rand by 8.2% in the 4th quarter. FMR LLC now owns 17,472,317 shares of the industrial products company’s stock worth $1,580,546,000 after purchasing an additional 1,320,223 shares during the period. Geode Capital Management LLC raised its holdings in Ingersoll Rand by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 9,648,574 shares of the industrial products company’s stock worth $870,503,000 after purchasing an additional 212,107 shares during the period. Finally, Northern Trust Corp raised its holdings in Ingersoll Rand by 18.2% in the 4th quarter. Northern Trust Corp now owns 4,042,854 shares of the industrial products company’s stock worth $365,717,000 after purchasing an additional 622,246 shares during the period. Institutional investors and hedge funds own 95.27% of the company’s stock.

Insider Buying and Selling at Ingersoll Rand

In other news, insider Elizabeth Meloy Hepding sold 3,500 shares of the firm’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $83.78, for a total transaction of $293,230.00. Following the completion of the transaction, 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Vicente Reynal sold 38,657 shares of the firm’s 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 transaction, the insider owned 193,186 shares of the company’s stock, valued at approximately $16,040,233.58. This represents a 16.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.59% of the company’s stock.

Analyst Ratings Changes

IR has been the subject of a number of research analyst reports. Barclays increased their target price on Ingersoll Rand from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, July 9th. Wells Fargo & Company increased their target price on Ingersoll Rand from $86.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, July 1st. Citigroup restated a “buy” rating and issued a $104.00 price target (up from $91.00) on shares of Ingersoll Rand in a research report on Monday, July 14th. Stifel Nicolaus upped their price target on Ingersoll Rand from $78.00 to $95.00 and gave the company a “hold” rating in a research report on Monday, July 21st. Finally, Melius Research set a $93.00 price target on Ingersoll Rand in a research report on Monday, July 14th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Ingersoll Rand presently has an average rating of “Hold” and an average price target of $100.92.

Ingersoll Rand Trading Down 1.4%

Shares of Ingersoll Rand stock opened at $85.86 on Thursday. The firm has a market capitalization of $34.64 billion, a price-to-earnings ratio of 42.51, a PEG ratio of 3.66 and a beta of 1.43. Ingersoll Rand Inc. has a fifty-two week low of $65.61 and a fifty-two week high of $106.03. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.76 and a current ratio of 2.38. The stock has a 50 day moving average of $84.22 and a 200 day moving average of $83.00.

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 the consensus estimate of $0.74 by ($0.02). The business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Ingersoll Rand had a return on equity of 12.33% and a net margin of 11.30%. The company’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.78 earnings per share. As a group, research analysts predict that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand declared that its board has approved a stock repurchase program on Thursday, May 1st that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the industrial products company to purchase up to 3.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Ingersoll Rand Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Ingersoll Rand’s dividend payout ratio is currently 3.96%.

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.