HM Payson & Co. Increases Stake in Ingersoll Rand Inc. (NYSE:IR)

HM Payson & Co. boosted its stake in Ingersoll Rand Inc. (NYSE:IR) by 8.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,515 shares of the industrial products company’s stock after purchasing an additional 647 shares during the period. HM Payson & Co.’s holdings in Ingersoll Rand were worth $808,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Vanguard Group Inc. increased its stake in 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 worth $3,510,018,000 after purchasing an additional 176,734 shares during the period. Capital International Investors increased its stake in 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 worth $2,484,486,000 after purchasing an additional 13,919,775 shares during the period. JPMorgan Chase & Co. increased its stake in 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 worth $1,517,040,000 after purchasing an additional 3,535,543 shares during the period. Capital Research Global Investors increased its stake in 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 worth $1,074,477,000 after purchasing an additional 1,504,414 shares during the period. Finally, Putnam Investments LLC increased its stake in shares of 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 valued at $730,383,000 after buying an additional 696,610 shares during the period. 95.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on IR shares. Wells Fargo & Company reduced their target price on Ingersoll Rand from $102.00 to $100.00 and set an “overweight” rating on the stock in a research note on Friday. Robert W. Baird boosted their target price on Ingersoll Rand from $109.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday. Barclays reduced their target price on Ingersoll Rand from $106.00 to $101.00 and set an “overweight” rating on the stock in a research note on Friday. Jefferies Financial Group started coverage on Ingersoll Rand in a research note on Friday, June 21st. They set a “buy” rating and a $110.00 target price on the stock. Finally, StockNews.com cut Ingersoll Rand from a “buy” rating to a “hold” rating in a research note on Saturday, May 4th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $98.08.

Ingersoll Rand Stock Down 4.2 %

Ingersoll Rand stock traded down $3.81 during mid-day trading on Friday, hitting $87.42. The company had a trading volume of 6,031,716 shares, compared to its average volume of 2,514,255. The company has a current ratio of 2.18, a quick ratio of 1.71 and a debt-to-equity ratio of 0.47. The stock’s 50 day moving average price is $93.62 and its two-hundred day moving average price is $90.95. Ingersoll Rand Inc. has a 12 month low of $59.20 and a 12 month high of $101.30. The company has a market capitalization 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 released 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 business had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.70 billion. As a group, sell-side analysts anticipate that Ingersoll Rand Inc. will post 3.17 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th will be issued 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 dividend payout ratio (DPR) is 3.98%.

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

Insiders Place Their Bets

In other Ingersoll Rand news, insider Vicente Reynal sold 198,486 shares of the business’s stock in a transaction 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 sale, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Andrew R. Schiesl sold 22,369 shares of the company’s stock in a transaction 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 transaction, the insider now directly 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 is available at the SEC website. Also, insider Vicente Reynal sold 198,486 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 100,367 shares in the company, valued at $8,843,336.37. The disclosure for this sale can be found here. Corporate 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.