Strengthening Families & Communities LLC Increases Stake in Ingersoll Rand Inc. (NYSE:IR)

Strengthening Families & Communities LLC lifted its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 3.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,028 shares of the industrial products company’s stock after acquiring an additional 543 shares during the period. Strengthening Families & Communities LLC’s holdings in Ingersoll Rand were worth $1,457,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Compass Wealth Management LLC raised its holdings in Ingersoll Rand by 62.8% in the first quarter. Compass Wealth Management LLC now owns 355 shares of the industrial products company’s stock valued at $28,000 after buying an additional 137 shares during the period. Global Wealth Strategies & Associates raised its holdings in Ingersoll Rand by 325.0% in the first quarter. Global Wealth Strategies & Associates now owns 374 shares of the industrial products company’s stock valued at $30,000 after buying an additional 286 shares during the period. Golden State Wealth Management LLC raised its holdings in Ingersoll Rand by 190.9% in the first quarter. Golden State Wealth Management LLC now owns 477 shares of the industrial products company’s stock valued at $38,000 after buying an additional 313 shares during the period. Farmers & Merchants Investments Inc. grew its position in Ingersoll Rand by 54.4% in the first quarter. Farmers & Merchants Investments Inc. now owns 488 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 172 shares in the last quarter. Finally, Larson Financial Group LLC grew its position in Ingersoll Rand by 136.4% in the first quarter. Larson Financial Group LLC now owns 494 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 285 shares in the last quarter. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Ingersoll Rand Stock Down 0.5%

IR stock opened at $75.88 on Friday. Ingersoll Rand Inc. has a twelve month low of $65.61 and a twelve month high of $106.03. The company has a current ratio of 2.29, a quick ratio of 1.63 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $30.16 billion, a P/E ratio of 59.28, a PEG ratio of 4.31 and a beta of 1.41. The firm has a 50 day simple moving average of $83.72 and a 200-day simple moving average of $82.29.

Ingersoll Rand (NYSE:IR) last released its earnings results on Thursday, July 31st. The industrial products company reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. Ingersoll Rand had a net margin of 7.10% and a return on equity of 12.12%. The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same quarter in the previous year, the firm earned $0.83 earnings per share. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, equities research analysts predict that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.1%. Ingersoll Rand’s dividend payout ratio (DPR) is currently 6.25%.

Ingersoll Rand announced that its board has initiated a share repurchase plan on Thursday, May 1st that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to repurchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Wells Fargo & Company increased their price objective on shares of Ingersoll Rand from $86.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, July 1st. Barclays lowered their price objective on shares of Ingersoll Rand from $92.00 to $91.00 and set an “overweight” rating for the company in a research report on Monday, August 4th. Citigroup reaffirmed a “buy” rating and issued a $104.00 price objective (up previously from $91.00) on shares of Ingersoll Rand in a research report on Monday, July 14th. Stifel Nicolaus lowered their price objective on shares of Ingersoll Rand from $95.00 to $78.00 and set a “hold” rating for the company in a research report on Monday, August 4th. Finally, Melius downgraded shares of Ingersoll Rand from a “buy” rating to a “hold” rating and set a $93.00 price objective for the company. in a research report on Monday, July 14th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Ingersoll Rand has an average rating of “Hold” and an average price target of $98.75.

Insider Transactions at Ingersoll Rand

In other Ingersoll Rand news, insider Elizabeth Meloy Hepding sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $83.78, for a total value of $293,230.00. Following the transaction, the insider owned 10,986 shares of the company’s stock, valued at $920,407.08. This trade represents a 24.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Vicente Reynal sold 38,657 shares of the firm’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $83.03, for a total transaction of $3,209,690.71. Following the completion of the transaction, the insider directly owned 193,186 shares in the company, valued at $16,040,233.58. This represents a 16.67% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.59% of the company’s stock.

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.