Strategic Wealth Partners Ltd. Raises Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

Strategic Wealth Partners Ltd. lifted its holdings in Ingersoll Rand Inc. (NYSE:IR) by 9.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,379 shares of the industrial products company’s stock after buying an additional 303 shares during the quarter. Strategic Wealth Partners Ltd.’s holdings in Ingersoll Rand were worth $321,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Headlands Technologies LLC bought a new position in Ingersoll Rand in the first quarter worth approximately $28,000. Riverview Trust Co bought a new position in Ingersoll Rand in the first quarter worth approximately $29,000. ANTIPODES PARTNERS Ltd bought a new stake in Ingersoll Rand during the 4th quarter valued at $27,000. Kapitalo Investimentos Ltda bought a new stake in Ingersoll Rand during the 4th quarter valued at $28,000. Finally, ESL Trust Services LLC bought a new stake in Ingersoll Rand during the 1st quarter valued at $35,000. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Ingersoll Rand Stock Performance

IR stock traded down $3.81 during midday trading on Friday, reaching $87.42. The stock had a trading volume of 6,017,979 shares, compared to its average volume of 2,672,670. The firm has a fifty day simple moving average of $93.79 and a two-hundred day simple moving average of $90.79. The stock has a market cap of $35.27 billion, a PE ratio of 43.49, a P/E/G ratio of 2.95 and a beta of 1.45. Ingersoll Rand Inc. has a 52-week low of $59.20 and a 52-week high of $101.30. 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 released its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.09. The business had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.70 billion. Ingersoll Rand had a return on equity of 13.08% and a net margin of 11.73%. As a group, equities research analysts anticipate that Ingersoll Rand Inc. will post 3.17 EPS for the current year.

Ingersoll Rand announced that its board has initiated a stock buyback program on Thursday, April 25th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the industrial products company to repurchase up to 2.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Ingersoll Rand Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders 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 payout ratio is currently 3.98%.

Insider Buying and Selling at Ingersoll Rand

In other Ingersoll Rand news, 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 transaction of $17,488,601.46. Following the completion of the transaction, the insider now owns 100,367 shares in the company, valued at approximately $8,843,336.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Vicente Reynal sold 198,486 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 100,367 shares in the company, valued at approximately $8,843,336.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Andrew R. Schiesl sold 22,369 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 30,846 shares in the company, valued at $2,843,075.82. The disclosure for this sale can be found here. Company insiders own 0.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Cfra reaffirmed a “hold” rating and set a $85.00 target price on shares of Ingersoll Rand in a research report on Friday. Jefferies Financial Group assumed coverage on Ingersoll Rand in a research report on Friday, June 21st. They set a “buy” rating and a $110.00 target price on the stock. Stifel Nicolaus increased their target price on Ingersoll Rand from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Barclays decreased their price objective on Ingersoll Rand from $106.00 to $101.00 and set an “overweight” rating for the company in a report on Friday. Finally, Citigroup increased their price objective on Ingersoll Rand from $105.00 to $112.00 and gave the company a “buy” rating in a report on Monday, April 8th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $98.08.

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.