Bayesian Capital Management LP Has $1.07 Million Holdings in Ingersoll Rand Inc. (NYSE:IR)

Bayesian Capital Management LP boosted its position in Ingersoll Rand Inc. (NYSE:IR) by 334.6% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 11,300 shares of the industrial products company’s stock after acquiring an additional 8,700 shares during the quarter. Bayesian Capital Management LP’s holdings in Ingersoll Rand were worth $1,073,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital International Investors grew its position in Ingersoll Rand by 113.7% in the 1st quarter. Capital International Investors now owns 26,166,256 shares of the industrial products company’s stock worth $2,484,486,000 after purchasing an additional 13,919,775 shares during the last quarter. Capital World Investors acquired a new stake in Ingersoll Rand in the 1st quarter worth $440,401,000. Norges Bank acquired a new stake in Ingersoll Rand in the 4th quarter worth $301,890,000. JPMorgan Chase & Co. grew its position in Ingersoll Rand by 28.4% in the 1st quarter. JPMorgan Chase & Co. now owns 15,977,246 shares of the industrial products company’s stock worth $1,517,040,000 after purchasing an additional 3,535,543 shares during the last quarter. Finally, Capital Research Global Investors grew its position in Ingersoll Rand by 46.6% in the 4th quarter. Capital Research Global Investors now owns 9,811,827 shares of the industrial products company’s stock worth $758,847,000 after purchasing an additional 3,119,793 shares during the last quarter. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on IR. Citigroup raised their price target on shares of Ingersoll Rand from $105.00 to $112.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Barclays raised their price target on shares of Ingersoll Rand from $104.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. StockNews.com lowered shares of Ingersoll Rand from a “buy” rating to a “hold” rating in a research report on Saturday, May 4th. Robert W. Baird raised their price objective on shares of Ingersoll Rand from $107.00 to $109.00 and gave the stock an “outperform” rating in a report on Monday, May 6th. Finally, Jefferies Financial Group began coverage on shares of Ingersoll Rand in a report on Friday, June 21st. They set a “buy” rating and a $110.00 price objective for the company. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.17.

Ingersoll Rand Price Performance

Shares of NYSE IR traded up $0.76 during trading on Wednesday, reaching $99.63. The company had a trading volume of 154,789 shares, compared to its average volume of 2,595,357. Ingersoll Rand Inc. has a 52 week low of $59.20 and a 52 week high of $101.30. The stock has a market cap of $40.19 billion, a PE ratio of 49.17, a PEG ratio of 2.90 and a beta of 1.45. 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 business’s 50 day moving average price is $93.78 and its 200-day moving average price is $90.72.

Ingersoll Rand (NYSE:IR) last announced 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 net margin of 11.85% and a return on equity of 12.57%. The company had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.70 billion. Analysts expect that Ingersoll Rand Inc. will post 3.17 earnings per share for the current year.

Ingersoll Rand Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.08%. The ex-dividend date is Thursday, August 15th. Ingersoll Rand’s dividend payout ratio is 3.98%.

Ingersoll Rand declared that its Board of Directors has initiated a share buyback plan on Thursday, April 25th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the industrial products company to reacquire up to 2.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Transactions at Ingersoll Rand

In other news, insider Andrew R. Schiesl sold 22,369 shares of Ingersoll Rand stock in a transaction that occurred on Friday, May 17th. The shares were 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 filing with the SEC, which can be accessed through this link. In other news, insider Andrew R. Schiesl sold 22,369 shares of Ingersoll Rand stock in a transaction that occurred on Friday, May 17th. The shares were 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 filing with the SEC, which can be accessed through this link. Also, insider Vicente Reynal sold 198,486 shares of the business’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 transaction 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 owned by corporate insiders.

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.