Catalytic Wealth RIA LLC Acquires New Position in Ingersoll Rand Inc. (NYSE:IR)

Catalytic Wealth RIA LLC bought a new stake in shares of Ingersoll Rand Inc. (NYSE:IR) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,903 shares of the industrial products company’s stock, valued at approximately $560,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Headlands Technologies LLC acquired a new position in shares of Ingersoll Rand in the first quarter worth $28,000. Riverview Trust Co bought a new position in Ingersoll Rand in the first quarter valued at approximately $29,000. ANTIPODES PARTNERS Ltd bought a new position in shares of Ingersoll Rand during the fourth quarter worth $27,000. Kapitalo Investimentos Ltda bought a new position in shares of Ingersoll Rand during the fourth quarter worth $28,000. Finally, Scarborough Advisors LLC bought a new stake in Ingersoll Rand in the 4th quarter valued at $32,000. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Ingersoll Rand Trading Up 3.2 %

NYSE IR traded up $3.09 during trading on Monday, hitting $99.95. The stock had a trading volume of 2,031,746 shares, compared to its average volume of 2,620,968. Ingersoll Rand Inc. has a twelve month low of $59.20 and a twelve month high of $100.65. The company has a market capitalization of $40.32 billion, a PE ratio of 49.67, a PEG ratio of 2.82 and a beta of 1.45. The company has a quick ratio of 1.71, a current ratio of 2.32 and a debt-to-equity ratio of 0.27. The firm has a 50 day moving average price of $92.97 and a 200 day moving average price of $89.62.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.09. Ingersoll Rand had a return on equity of 12.57% and a net margin of 11.85%. The company had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.70 billion. As a group, equities research analysts forecast that Ingersoll Rand Inc. will post 3.19 earnings per share for the current year.

Ingersoll Rand Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Thursday, May 16th were issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.08%. The ex-dividend date was Wednesday, May 15th. Ingersoll Rand’s dividend payout ratio is presently 3.98%.

Ingersoll Rand declared that its Board of Directors has initiated 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 repurchase up to 2.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Robert W. Baird boosted their price objective on shares of Ingersoll Rand from $107.00 to $109.00 and gave the company an “outperform” rating in a report on Monday, May 6th. StockNews.com cut shares of Ingersoll Rand from a “buy” rating to a “hold” rating in a report on Saturday, May 4th. Wells Fargo & Company boosted their price target on shares of Ingersoll Rand from $98.00 to $102.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Stifel Nicolaus lifted 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. Finally, 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 research report on Monday, April 8th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.17.

Insider Buying and Selling

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 value 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 Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Vicente Reynal sold 198,486 shares of the 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 transaction, 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 Securities & Exchange Commission, which is accessible through this link. Also, insider Andrew R. Schiesl sold 22,369 shares of the firm’s stock in a transaction dated 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 owns 30,846 shares in the company, valued at $2,843,075.82. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by corporate insiders.

Ingersoll Rand 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.