12,865 Shares in Ingersoll Rand Inc. (NYSE:IR) Acquired by Azzad Asset Management Inc. ADV

Azzad Asset Management Inc. ADV acquired a new position in Ingersoll Rand Inc. (NYSE:IR) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 12,865 shares of the industrial products company’s stock, valued at approximately $1,221,000.

Other large investors have also added to or reduced their stakes in the company. Riverview Trust Co bought a new stake in Ingersoll Rand in the 1st quarter worth approximately $29,000. ANTIPODES PARTNERS Ltd bought a new stake in Ingersoll Rand in the 4th quarter worth approximately $27,000. Kapitalo Investimentos Ltda bought a new stake in Ingersoll Rand in the 4th quarter worth approximately $28,000. Scarborough Advisors LLC bought a new stake in Ingersoll Rand in the 4th quarter worth approximately $32,000. Finally, Register Financial Advisors LLC bought a new position in shares of Ingersoll Rand during the 1st quarter valued at approximately $49,000. Institutional investors own 95.27% of the company’s stock.

Insider Activity

In other news, insider Andrew R. Schiesl sold 22,369 shares of the 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 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 document filed with the SEC, which is accessible through the SEC website. In related 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 value of $2,061,750.73. Following the transaction, the insider now directly owns 30,846 shares of the company’s stock, valued at approximately $2,843,075.82. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 completion of 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. Company insiders own 0.68% of the company’s stock.

Ingersoll Rand Stock Up 0.7 %

Ingersoll Rand stock traded up $0.66 during mid-day trading on Wednesday, reaching $91.32. 191,958 shares of the company were exchanged, compared to its average volume of 2,667,556. The business has a fifty day moving average of $92.02 and a 200 day moving average of $87.91. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.71 and a current ratio of 2.32. The firm has a market cap of $36.84 billion, a P/E ratio of 45.55, a PEG ratio of 2.65 and a beta of 1.45. Ingersoll Rand Inc. has a 12-month low of $59.20 and a 12-month high of $96.67.

Ingersoll Rand (NYSE:IR) last posted its earnings results on Thursday, May 2nd. The industrial products company reported $0.76 earnings per share for the quarter, topping 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 analyst estimates of $1.70 billion. Research analysts anticipate that Ingersoll Rand Inc. will post 3.19 earnings per share for the current fiscal year.

Ingersoll Rand announced that its board has approved a share buyback 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 stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Ingersoll Rand Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Thursday, May 16th were issued a dividend of $0.02 per share. The ex-dividend date was Wednesday, May 15th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Ingersoll Rand’s dividend payout ratio is presently 3.98%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on IR shares. Citigroup increased their target price on shares of Ingersoll Rand from $105.00 to $112.00 and gave the company a “buy” rating in a research note on Monday, April 8th. 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. Stifel Nicolaus reaffirmed a “buy” rating and set a $102.00 target price on shares of Ingersoll Rand in a research note on Tuesday, March 26th. Barclays cut their target price on Ingersoll Rand from $105.00 to $104.00 and set an “overweight” rating on the stock in a research note on Monday, May 6th. Finally, Wells Fargo & Company cut their target price on Ingersoll Rand from $105.00 to $98.00 and set an “overweight” rating on the stock in a research note on Monday, May 6th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $97.00.

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.