TrueWealth Advisors LLC Makes New $342,000 Investment in Ingersoll Rand Inc. (NYSE:IR)

TrueWealth Advisors LLC purchased a new position in shares of Ingersoll Rand Inc. (NYSE:IR) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 3,487 shares of the industrial products company’s stock, valued at approximately $342,000.

A number of other hedge funds also recently bought and sold shares of IR. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Ingersoll Rand by 24.4% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 494,450 shares of the industrial products company’s stock worth $46,948,000 after buying an additional 96,982 shares in the last quarter. Swedbank AB lifted its position in Ingersoll Rand by 34.0% during the second quarter. Swedbank AB now owns 780,712 shares of the industrial products company’s stock worth $70,920,000 after buying an additional 198,200 shares in the last quarter. Inspire Investing LLC purchased a new position in Ingersoll Rand during the first quarter worth approximately $889,000. Empowered Funds LLC lifted its position in Ingersoll Rand by 1,077.0% during the first quarter. Empowered Funds LLC now owns 49,483 shares of the industrial products company’s stock worth $4,698,000 after buying an additional 45,279 shares in the last quarter. Finally, Forsta AP Fonden lifted its position in Ingersoll Rand by 31.4% during the first quarter. Forsta AP Fonden now owns 98,400 shares of the industrial products company’s stock worth $9,343,000 after buying an additional 23,500 shares in the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Wall Street Analyst Weigh In

IR has been the subject of several recent analyst reports. Stifel Nicolaus raised their target price on Ingersoll Rand from $101.00 to $112.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Robert W. Baird raised their target price on Ingersoll Rand from $109.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Wolfe Research raised Ingersoll Rand to a “hold” rating in a research note on Friday, September 20th. Wells Fargo & Company raised their target price on Ingersoll Rand from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Finally, Barclays raised their target price on Ingersoll Rand from $101.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Ingersoll Rand has an average rating of “Moderate Buy” and an average target price of $102.17.

Ingersoll Rand Stock Down 2.1 %

NYSE IR traded down $2.03 during trading hours on Friday, hitting $93.97. 3,880,988 shares of the company were exchanged, compared to its average volume of 1,963,271. The company has a 50 day moving average of $95.32 and a two-hundred day moving average of $93.47. The company has a quick ratio of 1.52, a current ratio of 2.18 and a debt-to-equity ratio of 0.47. Ingersoll Rand Inc. has a 52-week low of $62.12 and a 52-week high of $102.74. The firm has a market cap of $37.92 billion, a price-to-earnings ratio of 45.84, a PEG ratio of 2.63 and a beta of 1.42.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.06. Ingersoll Rand had a return on equity of 13.14% and a net margin of 11.72%. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.78 billion. Equities research analysts anticipate that Ingersoll Rand Inc. will post 3.21 earnings per share for the current year.

Ingersoll Rand Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th will be given a dividend of $0.02 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Ingersoll Rand’s dividend payout ratio is currently 3.90%.

Insider Transactions at Ingersoll Rand

In other news, insider Vicente Reynal sold 50,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $92.51, for a total transaction of $4,625,500.00. Following the completion of the transaction, the insider now directly owns 100,367 shares of the company’s stock, valued at approximately $9,284,951.17. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Vicente Reynal sold 50,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $92.51, for a total transaction of $4,625,500.00. Following the completion of the transaction, the insider now directly owns 100,367 shares of the company’s stock, valued at approximately $9,284,951.17. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Andrew R. Schiesl sold 15,381 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $89.74, for a total value of $1,380,290.94. Following the transaction, the insider now directly owns 39,486 shares of the company’s stock, valued at approximately $3,543,473.64. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 77,510 shares of company stock valued at $7,108,005. 0.68% of the stock is currently owned by corporate insiders.

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.