Ingersoll Rand Inc. (NYSE:IR) Shares Purchased by Covestor Ltd

Covestor Ltd increased its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 184.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 634 shares of the industrial products company’s stock after purchasing an additional 411 shares during the period. Covestor Ltd’s holdings in Ingersoll Rand were worth $60,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. ANTIPODES PARTNERS Ltd acquired a new stake in shares of Ingersoll Rand in the fourth quarter valued at about $27,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Ingersoll Rand in the fourth quarter valued at about $28,000. Headlands Technologies LLC acquired a new stake in shares of Ingersoll Rand in the first quarter valued at about $28,000. Riverview Trust Co acquired a new stake in shares of Ingersoll Rand in the first quarter valued at about $29,000. Finally, Scarborough Advisors LLC acquired a new stake in shares of Ingersoll Rand in the fourth quarter valued at about $32,000. Institutional investors and hedge funds own 95.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Robert W. Baird raised their price objective on shares of Ingersoll Rand from $107.00 to $109.00 and gave the stock an “outperform” rating in a research note on Monday, May 6th. Stifel Nicolaus raised their price objective on shares of Ingersoll Rand from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Citigroup raised their price objective on shares of Ingersoll Rand from $105.00 to $112.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Jefferies Financial Group assumed coverage on shares of Ingersoll Rand in a research note on Friday, June 21st. They issued a “buy” rating and a $110.00 target price for the company. Finally, Barclays boosted their price objective on shares of Ingersoll Rand from $104.00 to $106.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.17.

Ingersoll Rand Price Performance

Shares of NYSE:IR opened at $95.75 on Thursday. The company has a quick ratio of 1.71, a current ratio of 2.32 and a debt-to-equity ratio of 0.27. Ingersoll Rand Inc. has a fifty-two week low of $59.20 and a fifty-two week high of $101.30. The firm has a 50-day simple moving average of $93.39 and a 200 day simple moving average of $90.02. The company has a market cap of $38.63 billion, a PE ratio of 47.64, a P/E/G ratio of 2.92 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, 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, sell-side analysts anticipate that Ingersoll Rand Inc. will post 3.19 EPS for the current year.

Ingersoll Rand announced that its Board of Directors has initiated a share repurchase program on Thursday, April 25th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the industrial products company to buy up to 2.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at Ingersoll Rand

In related news, insider Andrew R. Schiesl sold 22,369 shares of the company’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 completion of the sale, the insider now owns 30,846 shares in the company, valued at approximately $2,843,075.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Andrew R. Schiesl sold 22,369 shares of the stock in a transaction 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 transaction, the insider now owns 30,846 shares in the company, valued at approximately $2,843,075.82. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Vicente Reynal sold 198,486 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now owns 100,367 shares in the company, valued at $8,843,336.37. The disclosure for this sale can be found here. 0.68% of the stock is owned by insiders.

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.