Gamco Investors INC. ET AL Has $12.23 Million Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

Gamco Investors INC. ET AL lowered its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 3.3% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 128,834 shares of the industrial products company’s stock after selling 4,410 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Ingersoll Rand were worth $12,233,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Greenleaf Trust lifted its holdings in shares of Ingersoll Rand by 2.0% during the first quarter. Greenleaf Trust now owns 5,921 shares of the industrial products company’s stock worth $562,000 after buying an additional 118 shares in the last quarter. Spire Wealth Management lifted its holdings in shares of Ingersoll Rand by 8.5% during the first quarter. Spire Wealth Management now owns 1,603 shares of the industrial products company’s stock worth $152,000 after buying an additional 126 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Ingersoll Rand by 28.4% during the first quarter. Geneos Wealth Management Inc. now owns 637 shares of the industrial products company’s stock worth $60,000 after buying an additional 141 shares in the last quarter. Pitcairn Co. lifted its holdings in shares of Ingersoll Rand by 4.1% during the first quarter. Pitcairn Co. now owns 3,829 shares of the industrial products company’s stock worth $364,000 after buying an additional 152 shares in the last quarter. Finally, Bleakley Financial Group LLC lifted its holdings in shares of Ingersoll Rand by 2.7% during the first quarter. Bleakley Financial Group LLC now owns 6,103 shares of the industrial products company’s stock worth $579,000 after buying an additional 163 shares in the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.

Ingersoll Rand Price Performance

Ingersoll Rand stock traded up $1.76 during midday trading on Friday, reaching $98.70. The company’s stock had a trading volume of 1,803,638 shares, compared to its average volume of 1,944,285. Ingersoll Rand Inc. has a 52 week low of $59.20 and a 52 week high of $101.30. The company has a current ratio of 2.32, a quick ratio of 1.71 and a debt-to-equity ratio of 0.27. The business has a 50-day moving average price of $93.62 and a 200-day moving average price of $90.22. The stock has a market cap of $39.82 billion, a PE ratio of 49.10, a price-to-earnings-growth ratio of 2.84 and a beta of 1.45.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.76 earnings per share for the quarter, topping 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 return on equity of 12.57% and a net margin of 11.85%. On average, sell-side analysts predict that Ingersoll Rand Inc. will post 3.17 EPS for the current year.

Ingersoll Rand Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.08%. Ingersoll Rand’s dividend payout ratio (DPR) is currently 3.98%.

Ingersoll Rand declared that its board has approved a share buyback program on Thursday, April 25th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to purchase up to 2.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

IR has been the topic of a number of recent analyst reports. Robert W. Baird raised their price target on Ingersoll Rand from $107.00 to $109.00 and gave the stock an “outperform” rating in a research report on Monday, May 6th. Stifel Nicolaus raised their price target on Ingersoll Rand from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. StockNews.com cut Ingersoll Rand from a “buy” rating to a “hold” rating in a research report on Saturday, May 4th. Jefferies Financial Group initiated coverage on Ingersoll Rand in a research report on Friday, June 21st. They issued a “buy” rating and a $110.00 price target on the stock. Finally, Wells Fargo & Company raised their price target on Ingersoll Rand from $98.00 to $102.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $98.17.

Insider Transactions at Ingersoll Rand

In other news, insider Vicente Reynal sold 198,486 shares of the business’s stock in a transaction dated 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 directly owns 100,367 shares in the company, valued at $8,843,336.37. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Vicente Reynal sold 198,486 shares of Ingersoll Rand stock in a transaction that occurred on Tuesday, June 4th. The stock was 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Andrew R. Schiesl sold 22,369 shares of Ingersoll Rand stock in a transaction that occurred on 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 disclosure for this sale can be found here. Company insiders own 0.68% of the company’s stock.

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.