Ingersoll Rand Inc. (NYSE:IR) Shares Acquired by Wedmont Private Capital

Wedmont Private Capital grew its holdings in Ingersoll Rand Inc. (NYSE:IR) by 9.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,693 shares of the industrial products company’s stock after buying an additional 574 shares during the period. Wedmont Private Capital’s holdings in Ingersoll Rand were worth $489,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Global Wealth Strategies & Associates increased its position in Ingersoll Rand by 325.0% during the first quarter. Global Wealth Strategies & Associates now owns 374 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 286 shares during the last quarter. Murphy & Mullick Capital Management Corp acquired a new stake in Ingersoll Rand during the fourth quarter worth about $36,000. OFI Invest Asset Management acquired a new stake in Ingersoll Rand during the fourth quarter worth about $38,000. Lee Danner & Bass Inc. acquired a new stake in Ingersoll Rand during the fourth quarter worth about $42,000. Finally, Ancora Advisors LLC increased its position in Ingersoll Rand by 144.8% during the fourth quarter. Ancora Advisors LLC now owns 497 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 294 shares during the last quarter. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Ingersoll Rand

In related news, insider Vicente Reynal sold 38,657 shares of Ingersoll Rand stock in a transaction that occurred 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 completion of the transaction, the insider now owns 193,186 shares in the company, valued at approximately $16,040,233.58. The trade was a 16.67% decrease in their ownership of the stock. The sale 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 Ingersoll Rand stock in a transaction that occurred 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 now owns 10,986 shares of the company’s stock, valued at $920,407.08. This represents a 24.16% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.59% of the company’s stock.

Ingersoll Rand Trading Up 1.5%

Shares of IR stock opened at $84.73 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.29 and a quick ratio of 1.71. The firm has a market cap of $34.19 billion, a PE ratio of 41.13, a price-to-earnings-growth ratio of 3.50 and a beta of 1.44. The company has a 50-day moving average of $77.43 and a two-hundred day moving average of $85.81. Ingersoll Rand Inc. has a 1-year low of $65.61 and a 1-year high of $106.03.

Ingersoll Rand (NYSE:IR) last announced 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 business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.73 billion. Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.78 EPS. On average, analysts predict that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand declared that its Board of Directors has initiated a share repurchase program on Thursday, May 1st that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the industrial products company to reacquire up to 3.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Ingersoll Rand Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 15th were issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date of this dividend was Thursday, May 15th. Ingersoll Rand’s dividend payout ratio (DPR) is currently 3.96%.

Analysts Set New Price Targets

Several research firms recently issued reports on IR. Evercore ISI cut their price objective on shares of Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating for the company in a research report on Wednesday, February 19th. Robert W. Baird raised their price objective on shares of Ingersoll Rand from $105.00 to $111.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Barclays cut their price objective on shares of Ingersoll Rand from $93.00 to $85.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. 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. Finally, Citigroup increased their target price on shares of Ingersoll Rand from $88.00 to $91.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Ingersoll Rand has an average rating of “Moderate Buy” and an average price target of $98.91.

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.