Bleakley Financial Group LLC Raises Stock Position in Ingersoll Rand Inc. (NYSE:IR)

Bleakley Financial Group LLC lifted its position in Ingersoll Rand Inc. (NYSE:IR) by 2.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,103 shares of the industrial products company’s stock after buying an additional 163 shares during the period. Bleakley Financial Group LLC’s holdings in Ingersoll Rand were worth $579,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Greenleaf Trust grew its position in Ingersoll Rand by 2.0% during the 1st quarter. Greenleaf Trust now owns 5,921 shares of the industrial products company’s stock worth $562,000 after purchasing an additional 118 shares during the last quarter. Spire Wealth Management lifted its stake in Ingersoll Rand by 8.5% during the 1st quarter. Spire Wealth Management now owns 1,603 shares of the industrial products company’s stock valued at $152,000 after acquiring an additional 126 shares during the period. Geneos Wealth Management Inc. lifted its stake in shares of Ingersoll Rand by 28.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 637 shares of the industrial products company’s stock valued at $60,000 after purchasing an additional 141 shares during the period. Stablepoint Partners LLC lifted its stake in shares of Ingersoll Rand by 2.4% in the 1st quarter. Stablepoint Partners LLC now owns 7,323 shares of the industrial products company’s stock valued at $695,000 after purchasing an additional 169 shares during the period. Finally, Pinnacle Associates Ltd. lifted its stake in shares of Ingersoll Rand by 4.7% in the 4th quarter. Pinnacle Associates Ltd. now owns 4,333 shares of the industrial products company’s stock valued at $335,000 after purchasing an additional 193 shares during the period. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Citigroup increased 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. Stifel Nicolaus lifted their price target on shares of Ingersoll Rand from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday. Wells Fargo & Company lifted their price target on shares of Ingersoll Rand from $98.00 to $102.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Jefferies Financial Group initiated coverage on shares of Ingersoll Rand in a research report on Friday, June 21st. They set a “buy” rating and a $110.00 price target for the company. Finally, Robert W. Baird lifted 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. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $98.17.

Insider Buying and Selling

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

Ingersoll Rand Stock Down 0.0 %

IR stock opened at $97.90 on Friday. The company has a current ratio of 2.32, a quick ratio of 1.71 and a debt-to-equity ratio of 0.27. Ingersoll Rand Inc. has a twelve month low of $59.20 and a twelve month high of $100.65. The company’s 50 day moving average is $92.86 and its two-hundred day moving average is $89.29. The stock has a market cap of $39.50 billion, a P/E ratio of 48.70, a PEG ratio of 2.86 and a beta of 1.45.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings data 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 analysts’ expectations of $1.70 billion. Ingersoll Rand had a net margin of 11.85% and a return on equity of 12.57%. Research analysts expect that Ingersoll Rand Inc. will post 3.19 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Thursday, May 16th were given a $0.02 dividend. The ex-dividend date of this dividend was Wednesday, May 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 has initiated a share buyback program on Thursday, April 25th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the industrial products company to buy up to 2.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

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.