Commonwealth of Pennsylvania Public School Empls Retrmt SYS Boosts Stake in Ingersoll Rand Inc. (NYSE:IR)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Ingersoll Rand Inc. (NYSE:IR) by 0.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 88,865 shares of the industrial products company’s stock after acquiring an additional 220 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Ingersoll Rand were worth $8,438,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Norges Bank purchased a new stake in shares of Ingersoll Rand in the fourth quarter valued at $301,890,000. Capital International Investors lifted its stake in shares of Ingersoll Rand by 35.4% during the 4th quarter. Capital International Investors now owns 12,246,481 shares of the industrial products company’s stock worth $947,143,000 after acquiring an additional 3,202,973 shares during the last quarter. Capital Research Global Investors grew its position in Ingersoll Rand by 46.6% in the 4th quarter. Capital Research Global Investors now owns 9,811,827 shares of the industrial products company’s stock valued at $758,847,000 after acquiring an additional 3,119,793 shares during the last quarter. UBS Group AG increased its stake in Ingersoll Rand by 105.3% in the fourth quarter. UBS Group AG now owns 2,077,028 shares of the industrial products company’s stock worth $160,637,000 after purchasing an additional 1,065,413 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of Ingersoll Rand by 16.8% during the first quarter. Bank of New York Mellon Corp now owns 6,165,135 shares of the industrial products company’s stock worth $585,380,000 after purchasing an additional 886,697 shares during the last quarter. 95.27% of the stock is owned by hedge funds and other institutional investors.

Ingersoll Rand Stock Up 1.7 %

Shares of Ingersoll Rand stock traded up $1.70 on Tuesday, reaching $100.36. The stock had a trading volume of 3,024,300 shares, compared to its average volume of 2,635,453. 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 stock has a market capitalization of $40.49 billion, a P/E ratio of 49.93, a P/E/G ratio of 2.84 and a beta of 1.45. The company has a 50 day moving average price of $92.57 and a 200 day moving average price of $89.17. Ingersoll Rand Inc. has a 1 year low of $59.20 and a 1 year high of $100.65.

Ingersoll Rand (NYSE:IR) last released 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. Ingersoll Rand had a net margin of 11.85% and a return on equity of 12.57%. The business had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.70 billion. As a group, equities research analysts forecast that Ingersoll Rand Inc. will post 3.19 EPS for the current year.

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

Ingersoll Rand Dividend Announcement

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

Insider Transactions at Ingersoll Rand

In other Ingersoll Rand news, insider Andrew R. Schiesl sold 22,369 shares of the company’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 transaction, the insider now owns 30,846 shares in the company, valued at approximately $2,843,075.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Andrew R. Schiesl sold 22,369 shares of the firm’s stock in a transaction dated Friday, May 17th. The stock was 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 directly owns 30,846 shares in the company, valued at $2,843,075.82. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Vicente Reynal sold 198,486 shares of the company’s 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 sale, the insider now owns 100,367 shares in the company, valued at approximately $8,843,336.37. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.

Wall Street Analyst Weigh In

IR has been the subject of several research reports. Citigroup boosted their price objective on shares of Ingersoll Rand from $105.00 to $112.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Robert W. Baird raised their price objective on Ingersoll Rand from $107.00 to $109.00 and gave the stock an “outperform” rating in a report on Monday, May 6th. Stifel Nicolaus reiterated a “buy” rating and issued a $102.00 target price on shares of Ingersoll Rand in a report on Tuesday, March 26th. Wells Fargo & Company raised their price target on Ingersoll Rand from $98.00 to $102.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Finally, StockNews.com downgraded Ingersoll Rand from a “buy” rating to a “hold” rating in a report on Saturday, May 4th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Ingersoll Rand presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.50.

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.