Allegheny Financial Group LTD Acquires New Holdings in Ingersoll Rand Inc. (NYSE:IR)

Allegheny Financial Group LTD purchased a new stake in Ingersoll Rand Inc. (NYSE:IRFree Report) during the first quarter, according to its most recent 13F filing with the SEC. The firm purchased 2,558 shares of the industrial products company’s stock, valued at approximately $243,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Nomura Holdings Inc. lifted its stake in shares of Ingersoll Rand by 3,010.2% during the fourth quarter. Nomura Holdings Inc. now owns 211,274 shares of the industrial products company’s stock worth $16,340,000 after buying an additional 204,481 shares during the period. Varenne Capital Partners purchased a new stake in Ingersoll Rand during the 4th quarter valued at about $1,693,000. Illinois Municipal Retirement Fund increased its holdings in shares of Ingersoll Rand by 297.5% in the fourth quarter. Illinois Municipal Retirement Fund now owns 75,353 shares of the industrial products company’s stock valued at $5,828,000 after purchasing an additional 56,394 shares during the period. Azzad Asset Management Inc. ADV acquired a new stake in Ingersoll Rand during the 1st quarter valued at approximately $1,221,000. Finally, Arrow Financial Corp boosted its holdings in shares of Ingersoll Rand by 59.7% in the 4th quarter. Arrow Financial Corp now owns 23,143 shares of the industrial products company’s stock valued at $1,790,000 after acquiring an additional 8,649 shares during the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Insider Buying and Selling

In other Ingersoll Rand news, insider Andrew R. Schiesl sold 22,369 shares of the stock in a transaction dated 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 transaction, the insider now owns 30,846 shares in the company, valued at approximately $2,843,075.82. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Ingersoll Rand 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 value of $2,061,750.73. Following the completion of the sale, the insider now owns 30,846 shares in the company, valued at $2,843,075.82. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Vicente Reynal sold 198,486 shares of Ingersoll Rand stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $88.11, for a total value of $17,488,601.46. Following the transaction, the insider now owns 100,367 shares of the company’s stock, 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 company insiders.

Analyst Ratings Changes

IR has been the topic of a number of analyst reports. Stifel Nicolaus reiterated a “buy” rating and set a $102.00 price objective on shares of Ingersoll Rand in a research report on Tuesday, March 26th. Wells Fargo & Company upped their price objective on shares of Ingersoll Rand from $98.00 to $102.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Robert W. Baird lifted their target price 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. StockNews.com cut shares of Ingersoll Rand from a “buy” rating to a “hold” rating in a research note on Saturday, May 4th. Finally, Jefferies Financial Group started coverage on shares of Ingersoll Rand in a research report on Friday, June 21st. They set a “buy” rating and a $110.00 price target on the stock. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.50.

View Our Latest Research Report on IR

Ingersoll Rand Stock Performance

Shares of Ingersoll Rand stock traded up $1.51 during midday trading on Monday, hitting $98.79. The company had a trading volume of 1,435,853 shares, compared to its average volume of 2,622,244. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.32 and a quick ratio of 1.71. Ingersoll Rand Inc. has a 1-year low of $59.20 and a 1-year high of $99.44. The business’s 50 day simple moving average is $92.16 and its two-hundred day simple moving average is $88.86. The stock has a market cap of $39.85 billion, a PE ratio of 48.51, a P/E/G ratio of 2.84 and a beta of 1.45.

Ingersoll Rand (NYSE:IRGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.09. Ingersoll Rand had a return on equity of 12.57% and a net margin of 11.85%. The firm had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.70 billion. As a group, equities analysts predict that Ingersoll Rand Inc. will post 3.19 EPS for the current fiscal year.

Ingersoll Rand declared that its board has approved a stock buyback plan on Thursday, April 25th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to repurchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Ingersoll Rand Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Thursday, May 16th were issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.08%. The ex-dividend date of this dividend was Wednesday, May 15th. Ingersoll Rand’s dividend payout ratio (DPR) is 3.98%.

Ingersoll Rand Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Ingersoll Rand (NYSE:IR)

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