Railway Pension Investments Ltd Has $3.18 Million Position in Ingersoll Rand Inc. (NYSE:IR)

Railway Pension Investments Ltd increased its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 225.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 33,500 shares of the industrial products company’s stock after purchasing an additional 23,200 shares during the period. Railway Pension Investments Ltd’s holdings in Ingersoll Rand were worth $3,181,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Raymond James & Associates increased its position in Ingersoll Rand by 55.3% during the fourth quarter. Raymond James & Associates now owns 184,394 shares of the industrial products company’s stock worth $14,261,000 after acquiring an additional 65,632 shares during the period. Global Retirement Partners LLC grew its position in Ingersoll Rand by 26.4% in the 4th quarter. Global Retirement Partners LLC now owns 2,276 shares of the industrial products company’s stock worth $177,000 after purchasing an additional 476 shares during the last quarter. Pinnacle Associates Ltd. increased its holdings in shares of Ingersoll Rand by 4.7% during the 4th quarter. Pinnacle Associates Ltd. now owns 4,333 shares of the industrial products company’s stock worth $335,000 after purchasing an additional 193 shares during the period. Fifth Third Bancorp raised its position in shares of Ingersoll Rand by 2.5% during the fourth quarter. Fifth Third Bancorp now owns 12,819 shares of the industrial products company’s stock valued at $991,000 after buying an additional 307 shares during the last quarter. Finally, Pallas Capital Advisors LLC bought a new stake in shares of Ingersoll Rand in the fourth quarter valued at about $250,000. Institutional investors own 95.27% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on IR. Jefferies Financial Group assumed coverage on Ingersoll Rand in a report on Friday, June 21st. They issued a “buy” rating and a $110.00 price target for the company. Cfra reaffirmed a “hold” rating and issued a $85.00 target price on shares of Ingersoll Rand in a research report on Friday. Citigroup boosted their price target 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. Barclays reduced their price objective on shares of Ingersoll Rand from $106.00 to $101.00 and set an “overweight” rating for the company in a report on Friday. Finally, Wells Fargo & Company dropped their price target on shares of Ingersoll Rand from $102.00 to $100.00 and set an “overweight” rating for the company in a research report on Friday. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Ingersoll Rand presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.08.

Ingersoll Rand Price Performance

NYSE IR traded down $3.81 during trading hours on Friday, reaching $87.42. 6,031,716 shares of the company’s stock were exchanged, compared to its average volume of 2,514,255. The firm has a fifty day moving average of $93.62 and a 200-day moving average of $90.86. The company has a current ratio of 2.18, a quick ratio of 1.71 and a debt-to-equity ratio of 0.47. Ingersoll Rand Inc. has a one year low of $59.20 and a one year high of $101.30. The stock has a market cap of $35.27 billion, a PE ratio of 43.49, a price-to-earnings-growth ratio of 2.68 and a beta of 1.45.

Ingersoll Rand (NYSE:IR) last announced its earnings results on Thursday, May 2nd. The industrial products company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.67 by $0.09. Ingersoll Rand had a return on equity of 13.00% and a net margin of 11.73%. The company had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.70 billion. On average, equities research analysts predict that Ingersoll Rand Inc. will post 3.17 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.09%. The ex-dividend date is Thursday, August 15th. Ingersoll Rand’s payout ratio is presently 3.98%.

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

Insiders Place Their Bets

In other Ingersoll Rand news, insider Vicente Reynal sold 198,486 shares of the company’s stock in a transaction 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 transaction, the insider now owns 100,367 shares of the company’s stock, valued at approximately $8,843,336.37. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Andrew R. Schiesl sold 22,369 shares of the business’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 completion of the sale, the insider now directly owns 30,846 shares of the company’s stock, valued at $2,843,075.82. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Vicente Reynal sold 198,486 shares of Ingersoll Rand stock in a transaction 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 directly owns 100,367 shares of the company’s stock, 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.

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.