2,543 Shares in Ingersoll Rand Inc. (NYSE:IR) Bought by NorthRock Partners LLC

NorthRock Partners LLC bought a new position in shares of Ingersoll Rand Inc. (NYSE:IR) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,543 shares of the industrial products company’s stock, valued at approximately $241,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Public Sector Pension Investment Board increased its holdings in Ingersoll Rand by 12.2% in the 3rd quarter. Public Sector Pension Investment Board now owns 43,388 shares of the industrial products company’s stock valued at $2,765,000 after buying an additional 4,723 shares during the period. B. Riley Wealth Advisors Inc. bought a new stake in Ingersoll Rand in the 3rd quarter valued at $201,000. Massmutual Trust Co. FSB ADV boosted its stake in shares of Ingersoll Rand by 17.9% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,137 shares of the industrial products company’s stock valued at $88,000 after purchasing an additional 173 shares in the last quarter. Fulton Bank N.A. boosted its stake in shares of Ingersoll Rand by 6.3% in the 4th quarter. Fulton Bank N.A. now owns 3,944 shares of the industrial products company’s stock valued at $305,000 after purchasing an additional 235 shares in the last quarter. Finally, Wedmont Private Capital boosted its stake in shares of Ingersoll Rand by 6.0% in the 4th quarter. Wedmont Private Capital now owns 4,617 shares of the industrial products company’s stock valued at $350,000 after purchasing an additional 260 shares in the last quarter. Institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Trading Up 1.4 %

Shares of NYSE IR traded up $1.38 during mid-day trading on Monday, hitting $98.66. The company’s stock had a trading volume of 2,799,011 shares, compared to its average volume of 2,632,552. The stock has a market cap of $39.80 billion, a price-to-earnings ratio of 49.08, a price-to-earnings-growth ratio of 2.84 and a beta of 1.45. 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 one year low of $59.20 and a one year high of $99.44. The company’s fifty day simple moving average is $92.36 and its 200-day simple moving average is $89.01.

Ingersoll Rand (NYSE:IR) last issued its earnings results on Thursday, May 2nd. The industrial products company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.09. The company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.70 billion. Ingersoll Rand had a net margin of 11.85% and a return on equity of 12.57%. On average, sell-side analysts anticipate that Ingersoll Rand Inc. will post 3.19 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Thursday, May 16th were paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.08%. The ex-dividend date was Wednesday, May 15th. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.98%.

Ingersoll Rand announced that its Board of Directors has approved a stock repurchase program 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 repurchase up to 2.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Ingersoll Rand in a research note on Friday, June 21st. They issued a “buy” rating and a $110.00 target price on the stock. Stifel Nicolaus restated a “buy” rating and issued a $102.00 target price on shares of Ingersoll Rand in a research note on Tuesday, March 26th. Wells Fargo & Company boosted their target price 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. Barclays upped their price target 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. Finally, Robert W. Baird upped their price target on shares of Ingersoll Rand from $107.00 to $109.00 and gave the stock an “outperform” rating in a research report on Monday, May 6th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $97.50.

Insider Activity

In related news, insider Vicente Reynal sold 198,486 shares of the 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 sale, the insider now directly owns 100,367 shares in the company, valued at approximately $8,843,336.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Ingersoll Rand news, insider Andrew R. Schiesl sold 22,369 shares of the firm’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 transaction of $2,061,750.73. Following 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Vicente Reynal sold 198,486 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $88.11, for a total transaction of $17,488,601.46. Following the sale, the insider now owns 100,367 shares in the company, valued at $8,843,336.37. The disclosure for this sale can be found here. 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.