Ingersoll Rand Inc. (NYSE:IR) Shares Purchased by Industrial Alliance Investment Management Inc.

Industrial Alliance Investment Management Inc. lifted its position in Ingersoll Rand Inc. (NYSE:IR) by 4.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,935 shares of the industrial products company’s stock after purchasing an additional 250 shares during the period. Industrial Alliance Investment Management Inc.’s holdings in Ingersoll Rand were worth $564,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently added to or reduced their stakes in IR. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Ingersoll Rand by 24.4% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 494,450 shares of the industrial products company’s stock worth $46,948,000 after buying an additional 96,982 shares in the last quarter. Nomura Holdings Inc. grew its holdings in shares of Ingersoll Rand by 3,010.2% during the fourth quarter. Nomura Holdings Inc. now owns 211,274 shares of the industrial products company’s stock worth $16,340,000 after buying an additional 204,481 shares in the last quarter. Varenne Capital Partners purchased a new stake in shares of Ingersoll Rand during the fourth quarter worth $1,693,000. Illinois Municipal Retirement Fund grew its holdings in shares of Ingersoll Rand by 297.5% during the fourth quarter. Illinois Municipal Retirement Fund now owns 75,353 shares of the industrial products company’s stock worth $5,828,000 after buying an additional 56,394 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV purchased a new stake in shares of Ingersoll Rand during the first quarter worth $1,221,000. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on IR shares. StockNews.com lowered shares of Ingersoll Rand from a “buy” rating to a “hold” rating in a report on Saturday, May 4th. Stifel Nicolaus upped their price objective on shares of Ingersoll Rand from $100.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Citigroup upped their price objective on shares of Ingersoll Rand from $105.00 to $112.00 and gave the company a “buy” rating in a report on Monday, April 8th. Robert W. Baird upped their price objective on shares of Ingersoll Rand from $107.00 to $109.00 and gave the company an “outperform” rating in a report on Monday, May 6th. Finally, Barclays upped their price objective on shares of Ingersoll Rand from $104.00 to $106.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Ingersoll Rand currently has a consensus rating of “Moderate Buy” and an average price target of $98.17.

Ingersoll Rand Trading Up 0.1 %

IR stock traded up $0.10 during mid-day trading on Tuesday, hitting $98.84. 2,526,353 shares of the company were exchanged, compared to its average volume of 2,612,189. The company has a quick ratio of 1.71, a current ratio of 2.32 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $39.88 billion, a P/E ratio of 49.10, a PEG ratio of 2.90 and a beta of 1.45. The business has a fifty day simple moving average of $93.71 and a 200-day simple moving average of $90.57. Ingersoll Rand Inc. has a 12-month low of $59.20 and a 12-month high of $101.30.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.09. The business had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Ingersoll Rand had a net margin of 11.85% and a return on equity of 12.57%. On average, equities research analysts predict that Ingersoll Rand Inc. will post 3.17 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.02 per share. The ex-dividend date is Thursday, August 15th. This represents a $0.08 annualized dividend and a dividend yield of 0.08%. Ingersoll Rand’s dividend payout ratio is presently 3.98%.

Ingersoll Rand announced that its Board of Directors has authorized a stock repurchase program on Thursday, April 25th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the industrial products company to buy up to 2.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Insider Activity at Ingersoll Rand

In related news, insider Andrew R. Schiesl sold 22,369 shares of Ingersoll Rand stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $92.17, for a total value of $2,061,750.73. Following the completion of the transaction, the insider now owns 30,846 shares in the company, valued at $2,843,075.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Vicente Reynal sold 198,486 shares of Ingersoll Rand stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $88.11, for a total value of $17,488,601.46. Following the completion of the transaction, the insider now owns 100,367 shares in the company, valued at $8,843,336.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Andrew R. Schiesl sold 22,369 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $92.17, for a total transaction of $2,061,750.73. Following the sale, the insider now owns 30,846 shares of the company’s stock, valued at approximately $2,843,075.82. The disclosure for this sale can be found here. 0.68% of the stock is owned by corporate insiders.

About Ingersoll Rand

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.