Ingersoll Rand Inc. (NYSE:IR) Shares Purchased by Spire Wealth Management

Spire Wealth Management boosted its holdings in Ingersoll Rand Inc. (NYSE:IRFree Report) by 8.5% in the first quarter, HoldingsChannel.com reports. The firm owned 1,603 shares of the industrial products company’s stock after acquiring an additional 126 shares during the period. Spire Wealth Management’s holdings in Ingersoll Rand were worth $152,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Ingersoll Rand by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 45,384,257 shares of the industrial products company’s stock valued at $3,510,018,000 after buying an additional 176,734 shares during the last quarter. FMR LLC lifted its stake in Ingersoll Rand by 3.4% in the third quarter. FMR LLC now owns 19,190,038 shares of the industrial products company’s stock valued at $1,222,789,000 after buying an additional 627,146 shares during the last quarter. Capital International Investors raised its stake in shares of Ingersoll Rand by 35.4% during the fourth quarter. Capital International Investors now owns 12,246,481 shares of the industrial products company’s stock valued at $947,143,000 after purchasing an additional 3,202,973 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Ingersoll Rand by 1.9% during the third quarter. JPMorgan Chase & Co. now owns 11,547,716 shares of the industrial products company’s stock valued at $735,821,000 after purchasing an additional 213,441 shares in the last quarter. Finally, Capital Research Global Investors raised its stake in shares of Ingersoll Rand by 46.6% during the fourth quarter. Capital Research Global Investors now owns 9,811,827 shares of the industrial products company’s stock valued at $758,847,000 after purchasing an additional 3,119,793 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

IR has been the topic of a number of recent analyst reports. BNP Paribas initiated coverage on shares of Ingersoll Rand in a research note on Tuesday, March 12th. They set a “neutral” rating and a $92.00 price objective on the stock. Wells Fargo & Company cut their price objective on shares of Ingersoll Rand from $105.00 to $98.00 and set an “overweight” rating on the stock 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. UBS Group lifted their target price on Ingersoll Rand from $78.00 to $93.00 and gave the stock a “buy” rating in a report on Monday, January 29th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $102.00 target price on shares of Ingersoll Rand in a report on Tuesday, March 26th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $95.82.

Check Out Our Latest Stock Report on Ingersoll Rand

Ingersoll Rand Trading Up 1.6 %

IR traded up $1.49 during trading on Monday, reaching $94.14. The company had a trading volume of 2,726,047 shares, compared to its average volume of 2,603,670. The firm’s 50-day simple moving average is $92.12 and its 200 day simple moving average is $83.18. The company has a market cap of $37.98 billion, a price-to-earnings ratio of 46.84, a PEG ratio of 3.03 and a beta of 1.40. Ingersoll Rand Inc. has a 12-month low of $56.49 and a 12-month high of $96.17. 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:IRGet Free Report) last issued its quarterly earnings results on Thursday, February 15th. The industrial products company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Ingersoll Rand had a return on equity of 12.57% and a net margin of 11.85%. Equities research analysts anticipate that Ingersoll Rand Inc. will post 3.14 earnings per share for the current year.

Ingersoll Rand Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 16th will be paid a $0.02 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $0.08 dividend on an annualized basis and a yield of 0.08%. Ingersoll Rand’s dividend payout ratio is currently 3.98%.

Ingersoll Rand announced that its Board of Directors has initiated a stock 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 repurchase up to 2.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other Ingersoll Rand news, CAO Michael J. Scheske sold 7,590 shares of Ingersoll Rand stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $88.00, for a total transaction of $667,920.00. Following the transaction, the chief accounting officer now owns 9,715 shares of the company’s stock, valued at approximately $854,920. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Ingersoll Rand news, insider Vicente Reynal sold 240,000 shares of Ingersoll Rand stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $90.16, for a total transaction of $21,638,400.00. Following the transaction, the insider now owns 91,957 shares of the company’s stock, valued at approximately $8,290,843.12. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Michael J. Scheske sold 7,590 shares of Ingersoll Rand stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $88.00, for a total value of $667,920.00. Following the transaction, the chief accounting officer now directly owns 9,715 shares in the company, valued at approximately $854,920. The disclosure for this sale can be found here. In the last quarter, insiders have sold 293,011 shares of company stock valued at $26,374,789. 0.68% of the stock is owned by corporate insiders.

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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