California State Teachers Retirement System Purchases 247 Shares of Ingersoll Rand Inc. (NYSE:IR)

California State Teachers Retirement System increased its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 0.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 612,914 shares of the industrial products company’s stock after acquiring an additional 247 shares during the quarter. California State Teachers Retirement System owned about 0.15% of Ingersoll Rand worth $58,196,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of IR. Vanguard Group Inc. boosted its holdings in shares of Ingersoll Rand by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 45,384,257 shares of the industrial products company’s stock valued at $3,510,018,000 after acquiring an additional 176,734 shares during the last quarter. Capital International Investors boosted its holdings in shares of Ingersoll Rand by 113.7% in the 1st quarter. Capital International Investors now owns 26,166,256 shares of the industrial products company’s stock valued at $2,484,486,000 after acquiring an additional 13,919,775 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Ingersoll Rand by 28.4% in the 1st quarter. JPMorgan Chase & Co. now owns 15,977,246 shares of the industrial products company’s stock valued at $1,517,040,000 after acquiring an additional 3,535,543 shares during the last quarter. Capital Research Global Investors boosted its holdings in shares of Ingersoll Rand by 15.3% in the 1st quarter. Capital Research Global Investors now owns 11,316,241 shares of the industrial products company’s stock valued at $1,074,477,000 after acquiring an additional 1,504,414 shares during the last quarter. Finally, Putnam Investments LLC boosted its holdings in Ingersoll Rand by 8.0% during the fourth quarter. Putnam Investments LLC now owns 9,443,792 shares of the industrial products company’s stock worth $730,383,000 after buying an additional 696,610 shares in the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Analysts Set New Price Targets

IR has been the topic of a number of recent analyst reports. Barclays increased their price target on shares of Ingersoll Rand from $104.00 to $106.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Citigroup upped their price objective on shares of Ingersoll Rand from $105.00 to $112.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Wells Fargo & Company upped their price objective on shares of Ingersoll Rand from $98.00 to $102.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Stifel Nicolaus upped their price objective on shares of Ingersoll Rand from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Finally, StockNews.com cut shares of Ingersoll Rand from a “buy” rating to a “hold” rating in a research report on Saturday, May 4th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.17.

Insider Activity at Ingersoll Rand

In related 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 value of $2,061,750.73. Following the sale, the insider now owns 30,846 shares of the company’s stock, valued at $2,843,075.82. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Ingersoll Rand news, insider Vicente Reynal sold 198,486 shares of the firm’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 transaction of $17,488,601.46. Following the sale, the insider now owns 100,367 shares of the company’s stock, valued at $8,843,336.37. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Andrew R. Schiesl sold 22,369 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 30,846 shares in the company, valued at approximately $2,843,075.82. The disclosure for this sale can be found here. 0.68% of the stock is owned by corporate insiders.

Ingersoll Rand Stock Down 6.2 %

Shares of NYSE IR traded down $6.23 during midday trading on Thursday, hitting $94.17. The company’s stock had a trading volume of 424,845 shares, compared to its average volume of 2,602,060. The business’s fifty day simple moving average is $93.86 and its two-hundred day simple moving average is $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 1 year low of $59.20 and a 1 year high of $101.30. The firm has a market capitalization of $37.99 billion, a price-to-earnings ratio of 49.95, a price-to-earnings-growth ratio of 2.90 and a beta of 1.45.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.76 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $1.70 billion. On average, equities analysts predict that Ingersoll Rand Inc. will post 3.17 EPS for the current year.

Ingersoll Rand Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 15th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.08 annualized dividend and a yield of 0.08%. Ingersoll Rand’s dividend payout ratio (DPR) is 3.98%.

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

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.