UniSuper Management Pty Ltd Buys 11,751 Shares of Ingersoll Rand Inc. (NYSE:IR)

UniSuper Management Pty Ltd raised its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 308.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,557 shares of the industrial products company’s stock after acquiring an additional 11,751 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Ingersoll Rand were worth $1,477,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Ingersoll Rand in the 4th quarter worth $301,890,000. JPMorgan Chase & Co. boosted its position in shares of 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 in the last quarter. Capital International Investors boosted its position in shares of Ingersoll Rand by 35.4% in the 4th 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 in the last quarter. Capital Research Global Investors boosted its position in shares of 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 in the last quarter. Finally, UBS Group AG boosted its position in shares of Ingersoll Rand by 105.3% in the 4th quarter. UBS Group AG now owns 2,077,028 shares of the industrial products company’s stock worth $160,637,000 after purchasing an additional 1,065,413 shares in the last quarter. Institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Price Performance

IR stock traded up $0.32 during trading on Tuesday, hitting $100.27. The stock had a trading volume of 1,419,374 shares, compared to its average volume of 2,612,385. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.32 and a quick ratio of 1.71. Ingersoll Rand Inc. has a twelve month low of $59.20 and a twelve month high of $101.30. The stock has a market capitalization of $40.45 billion, a P/E ratio of 49.89, a PEG ratio of 2.82 and a beta of 1.45. The company’s 50-day moving average price is $93.33 and its two-hundred day moving average price is $89.97.

Ingersoll Rand (NYSE:IR) last issued its earnings results on Thursday, May 2nd. The industrial products company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.09. The business had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Ingersoll Rand had a return on equity of 12.57% and a net margin of 11.85%. As a group, research analysts predict that Ingersoll Rand Inc. will post 3.19 EPS for the current fiscal year.

Ingersoll Rand Announces Dividend

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

Ingersoll Rand announced that its Board of Directors has approved a share buyback 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 reacquire up to 2.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. StockNews.com lowered Ingersoll Rand from a “buy” rating to a “hold” rating in a research note on Saturday, May 4th. Robert W. Baird raised their target price on Ingersoll Rand from $107.00 to $109.00 and gave the stock an “outperform” rating in a research note on Monday, May 6th. Wells Fargo & Company raised their target price on Ingersoll Rand from $98.00 to $102.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Jefferies Financial Group started coverage on Ingersoll Rand in a research note on Friday, June 21st. They set a “buy” rating and a $110.00 price objective for the company. Finally, Barclays lifted their price objective on Ingersoll Rand from $104.00 to $106.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $98.17.

Insider Buying and Selling at Ingersoll Rand

In other Ingersoll Rand 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 transaction, the insider now owns 100,367 shares of the company’s stock, valued at $8,843,336.37. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Andrew R. Schiesl sold 22,369 shares of the firm’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $92.17, for a total transaction of $2,061,750.73. Following the transaction, the insider now owns 30,846 shares of the company’s stock, valued at $2,843,075.82. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 value of $17,488,601.46. Following the transaction, the insider now directly owns 100,367 shares in the company, valued at approximately $8,843,336.37. The disclosure for this sale can be found here. 0.68% of the stock is owned by insiders.

Ingersoll Rand Company 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.