Ingersoll Rand Inc. (NYSE:IR) Shares Purchased by Vinva Investment Management Ltd

Vinva Investment Management Ltd increased its holdings in shares of Ingersoll Rand Inc. (NYSE:IRFree Report) by 27.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,626 shares of the industrial products company’s stock after acquiring an additional 2,906 shares during the quarter. Vinva Investment Management Ltd’s holdings in Ingersoll Rand were worth $1,060,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. FMR LLC raised its stake in Ingersoll Rand by 3.4% during the third quarter. FMR LLC now owns 19,190,038 shares of the industrial products company’s stock worth $1,222,789,000 after purchasing an additional 627,146 shares during the period. Capital International Investors raised its stake in 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 worth $947,143,000 after purchasing an additional 3,202,973 shares during the period. JPMorgan Chase & Co. raised its stake in 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 worth $735,821,000 after purchasing an additional 213,441 shares during the period. Capital Research Global Investors raised its stake in 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 worth $758,847,000 after purchasing an additional 3,119,793 shares during the period. Finally, Fisher Asset Management LLC raised its stake in Ingersoll Rand by 2.7% during the fourth quarter. Fisher Asset Management LLC now owns 6,370,883 shares of the industrial products company’s stock worth $492,724,000 after purchasing an additional 166,999 shares during the period. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Ingersoll Rand Stock Up 0.8 %

NYSE IR traded up $0.75 on Friday, hitting $89.13. 2,142,044 shares of the stock were exchanged, compared to its average volume of 3,068,694. The company has a 50-day moving average price of $91.90 and a 200-day moving average price of $85.33. Ingersoll Rand Inc. has a fifty-two week low of $59.20 and a fifty-two week high of $96.67. The company has a quick ratio of 1.71, a current ratio of 2.32 and a debt-to-equity ratio of 0.27. The company has a market cap of $35.96 billion, a PE ratio of 44.34, a PEG ratio of 2.86 and a beta of 1.43.

Ingersoll Rand (NYSE:IRGet Free Report) last issued its earnings results on Thursday, May 2nd. The industrial products company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.09. Ingersoll Rand had a net margin of 11.85% and a return on equity of 12.57%. The business had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Sell-side analysts anticipate that Ingersoll Rand Inc. will post 3.18 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The business also recently announced 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 0.09%. The ex-dividend date of this dividend was Wednesday, May 15th. Ingersoll Rand’s payout ratio is 3.98%.

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

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Wells Fargo & Company reduced their target price 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. Robert W. Baird boosted their price target on shares of Ingersoll Rand from $107.00 to $109.00 and gave the company an “outperform” rating in a research note on Monday, May 6th. BNP Paribas started coverage on shares of Ingersoll Rand in a research note on Tuesday, March 12th. They issued a “neutral” rating and a $92.00 price target on the stock. The Goldman Sachs Group boosted their price target on shares of Ingersoll Rand from $87.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Finally, Cfra boosted their price target on shares of Ingersoll Rand from $68.00 to $85.00 and gave the company a “hold” rating in a research note on Friday, February 16th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ingersoll Rand currently has an average rating of “Moderate Buy” and an average target price of $95.82.

Get Our Latest Report on Ingersoll Rand

Insider Activity at Ingersoll Rand

In related news, insider Vicente Reynal sold 198,486 shares of the company’s stock in a transaction 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 owns 100,367 shares in the company, valued at approximately $8,843,336.37. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Vicente Reynal sold 198,486 shares of the company’s stock in a transaction 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 owns 100,367 shares in the company, valued at approximately $8,843,336.37. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Andrew R. Schiesl sold 35,000 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $89.46, for a total transaction of $3,131,100.00. Following the completion of the sale, the insider now owns 16,525 shares of the company’s stock, valued at approximately $1,478,326.50. The disclosure for this sale can be found here. Insiders sold a total of 255,855 shares of company stock worth $22,681,452 in the last 90 days. 0.68% of the stock is owned by insiders.

Ingersoll Rand Company 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.

Further Reading

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

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