Lifestyle Asset Management Inc. Makes New $286,000 Investment in Ingersoll Rand Inc. (NYSE:IR)

Lifestyle Asset Management Inc. acquired a new stake in Ingersoll Rand Inc. (NYSE:IR) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,014 shares of the industrial products company’s stock, valued at approximately $286,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Azzad Asset Management Inc. ADV acquired a new position in Ingersoll Rand in the first quarter valued at $1,221,000. Silverlake Wealth Management LLC acquired a new stake in shares of Ingersoll Rand in the 1st quarter valued at about $205,000. Oak Thistle LLC purchased a new position in Ingersoll Rand during the 1st quarter worth approximately $318,000. Chemung Canal Trust Co. acquired a new position in Ingersoll Rand during the first quarter worth approximately $214,000. Finally, Griffin Asset Management Inc. purchased a new stake in Ingersoll Rand in the first quarter valued at approximately $282,000. Institutional investors and hedge funds own 95.27% of the company’s stock.

Ingersoll Rand Trading Up 0.4 %

Shares of NYSE:IR traded up $0.35 during trading on Wednesday, reaching $91.01. 651,726 shares of the stock were exchanged, compared to its average volume of 2,671,177. The firm’s 50-day moving average price is $92.02 and its 200 day moving average price is $87.91. The firm has a market cap of $36.72 billion, a price-to-earnings ratio of 45.55, a price-to-earnings-growth 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. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.71 and a current ratio of 2.32.

Ingersoll Rand (NYSE:IR) last announced its quarterly 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 net margin of 11.85% and a return on equity of 12.57%. The firm had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.70 billion. On average, sell-side 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 authorized a stock repurchase program 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 buy up to 2.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Ingersoll Rand Announces Dividend

The company also recently declared 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 0.09%. The ex-dividend date was Wednesday, May 15th. Ingersoll Rand’s payout ratio is 3.98%.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on IR shares. Stifel Nicolaus reissued a “buy” rating and set a $102.00 price target on shares of Ingersoll Rand in a report on Tuesday, March 26th. Jefferies Financial Group assumed coverage on Ingersoll Rand in a report on Friday, June 21st. They issued a “buy” rating and a $110.00 target price on the stock. Robert W. Baird increased their price target on Ingersoll Rand from $107.00 to $109.00 and gave the stock an “outperform” rating in a report on Monday, May 6th. Citigroup boosted their price objective 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. Finally, Wells Fargo & Company lowered their price objective on Ingersoll Rand from $105.00 to $98.00 and set an “overweight” rating on the stock in a report on Monday, May 6th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently 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.