DekaBank Deutsche Girozentrale Purchases 16,579 Shares of Ingersoll Rand Inc. (NYSE:IR)

DekaBank Deutsche Girozentrale raised its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 10.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 174,857 shares of the industrial products company’s stock after acquiring an additional 16,579 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Ingersoll Rand were worth $16,527,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Headlands Technologies LLC purchased a new position in Ingersoll Rand in the 1st quarter worth approximately $28,000. Riverview Trust Co purchased a new position in Ingersoll Rand in the 1st quarter worth approximately $29,000. ANTIPODES PARTNERS Ltd purchased a new position in Ingersoll Rand in the 4th quarter worth approximately $27,000. Kapitalo Investimentos Ltda purchased a new position in Ingersoll Rand in the 4th quarter worth approximately $28,000. Finally, ESL Trust Services LLC purchased a new stake in Ingersoll Rand during the 1st quarter valued at $35,000. 95.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on IR. Barclays decreased their target price on shares of Ingersoll Rand from $106.00 to $101.00 and set an “overweight” rating for the company in a research note on Friday. Cfra reiterated a “hold” rating and set a $85.00 target price on shares of Ingersoll Rand in a research note on Friday. Jefferies Financial Group assumed coverage on shares of Ingersoll Rand in a research note on Friday, June 21st. They set a “buy” rating and a $110.00 target price for the company. Robert W. Baird boosted their price objective on shares of Ingersoll Rand from $109.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Wells Fargo & Company cut their price objective on shares of Ingersoll Rand from $102.00 to $100.00 and set an “overweight” rating for the company in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.08.

Insider Activity

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 shares were sold at an average price of $88.11, for a total value of $17,488,601.46. Following the completion of the sale, the insider now directly owns 100,367 shares in the company, valued at $8,843,336.37. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Andrew R. Schiesl sold 22,369 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 30,846 shares of the company’s stock, valued at $2,843,075.82. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Vicente Reynal sold 198,486 shares of the firm’s stock in a transaction 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 transaction, the insider now directly 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. Insiders own 0.68% of the company’s stock.

Ingersoll Rand Trading Down 4.2 %

Shares of NYSE:IR traded down $3.81 during trading on Friday, reaching $87.42. 6,031,716 shares of the company were exchanged, compared to its average volume of 2,514,255. The firm has a market capitalization of $35.27 billion, a PE ratio of 43.49, a P/E/G ratio of 2.68 and a beta of 1.45. The business’s fifty day simple moving average is $93.62 and its 200-day simple moving average is $90.86. Ingersoll Rand Inc. has a 12-month low of $59.20 and a 12-month high of $101.30. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.18 and a quick ratio of 1.71.

Ingersoll Rand (NYSE:IR) last issued its earnings results on Thursday, May 2nd. The industrial products company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.09. The business had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.70 billion. Ingersoll Rand had a net margin of 11.73% and a return on equity of 13.00%. On average, research analysts anticipate that Ingersoll Rand Inc. will post 3.17 EPS for the current year.

Ingersoll Rand Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.02 per share. The ex-dividend date is Thursday, August 15th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. Ingersoll Rand’s dividend payout ratio is presently 3.98%.

Ingersoll Rand declared that its board has authorized a share repurchase plan on Thursday, April 25th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the industrial products company to buy up to 2.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

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.