Tidal Investments LLC Has $2.45 Million Position in Ingersoll Rand Inc. (NYSE:IR)

Tidal Investments LLC increased its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 65.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,784 shares of the industrial products company’s stock after purchasing an additional 10,178 shares during the period. Tidal Investments LLC’s holdings in Ingersoll Rand were worth $2,448,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. B. Riley Wealth Advisors Inc. lifted its stake in Ingersoll Rand by 14.7% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 3,112 shares of the industrial products company’s stock valued at $295,000 after acquiring an additional 399 shares in the last quarter. Industrial Alliance Investment Management Inc. lifted its stake in Ingersoll Rand by 4.4% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 5,935 shares of the industrial products company’s stock valued at $564,000 after acquiring an additional 250 shares in the last quarter. Bayesian Capital Management LP lifted its stake in Ingersoll Rand by 334.6% in the 1st quarter. Bayesian Capital Management LP now owns 11,300 shares of the industrial products company’s stock valued at $1,073,000 after acquiring an additional 8,700 shares in the last quarter. SVB Wealth LLC bought a new stake in Ingersoll Rand in the 1st quarter valued at approximately $314,000. Finally, 1832 Asset Management L.P. bought a new stake in Ingersoll Rand in the 1st quarter valued at approximately $21,411,000. Institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Stock Performance

Shares of IR traded down $9.51 during trading hours on Thursday, hitting $90.89. The company’s stock had a trading volume of 3,006,621 shares, compared to its average volume of 2,619,623. The business has a 50 day simple moving average of $93.86 and a two-hundred day simple moving average of $90.79. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.32 and a quick ratio of 1.71. Ingersoll Rand Inc. has a 52-week low of $59.20 and a 52-week high of $101.30. The company has a market cap of $36.67 billion, a price-to-earnings ratio of 45.26, a PEG ratio of 2.90 and a beta of 1.45.

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

Ingersoll Rand Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders 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 yield of 0.09%. Ingersoll Rand’s payout ratio is presently 3.98%.

Ingersoll Rand declared that its Board of Directors has initiated a share buyback plan on Thursday, April 25th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to purchase up to 2.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on IR. Citigroup upped their price objective on Ingersoll Rand from $105.00 to $112.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Robert W. Baird upped their price target on shares of Ingersoll Rand from $107.00 to $109.00 and gave the company an “outperform” rating in a research report on Monday, May 6th. Barclays increased their price objective on shares of Ingersoll Rand from $104.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Jefferies Financial Group assumed coverage on shares of Ingersoll Rand in a research note on Friday, June 21st. They set a “buy” rating and a $110.00 target price on the stock. Finally, Wells Fargo & Company raised their price objective on shares of Ingersoll Rand from $98.00 to $102.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $98.17.

Insider Transactions at Ingersoll Rand

In other news, insider Andrew R. Schiesl sold 22,369 shares of the business’s 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 sale, the insider now directly owns 30,846 shares in the company, valued at approximately $2,843,075.82. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Vicente Reynal sold 198,486 shares of Ingersoll Rand stock in a transaction 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 transaction, the insider now directly owns 100,367 shares of the company’s stock, valued at $8,843,336.37. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Andrew R. Schiesl sold 22,369 shares of Ingersoll Rand stock in a transaction 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 completion of the transaction, the insider now directly owns 30,846 shares in the company, valued at $2,843,075.82. The disclosure for this sale can be found here. Company insiders own 0.68% of the company’s stock.

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.