Industrial Alliance Investment Management Inc. Buys 250 Shares of Ingersoll Rand Inc. (NYSE:IR)

Industrial Alliance Investment Management Inc. increased its stake in Ingersoll Rand Inc. (NYSE:IR) by 4.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,935 shares of the industrial products company’s stock after purchasing an additional 250 shares during the quarter. Industrial Alliance Investment Management Inc.’s holdings in Ingersoll Rand were worth $564,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Capital International Investors grew its stake in Ingersoll Rand by 113.7% in the 1st quarter. Capital International Investors now owns 26,166,256 shares of the industrial products company’s stock valued at $2,484,486,000 after buying an additional 13,919,775 shares in the last quarter. Capital World Investors purchased a new position in Ingersoll Rand in the 1st quarter valued at approximately $440,401,000. Norges Bank purchased a new position in Ingersoll Rand in the 4th quarter valued at approximately $301,890,000. JPMorgan Chase & Co. grew its position in shares of Ingersoll Rand by 28.4% during the 1st quarter. JPMorgan Chase & Co. now owns 15,977,246 shares of the industrial products company’s stock valued at $1,517,040,000 after purchasing an additional 3,535,543 shares in the last quarter. Finally, Capital Research Global Investors grew its position in shares of Ingersoll Rand by 46.6% during the 4th 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. Institutional investors own 95.27% of the company’s stock.

Insider Activity

In other news, insider Vicente Reynal sold 198,486 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were 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 directly owns 100,367 shares of the company’s stock, valued at $8,843,336.37. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Vicente Reynal sold 198,486 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were 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 directly owns 100,367 shares of the company’s stock, valued at $8,843,336.37. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Andrew R. Schiesl sold 22,369 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 30,846 shares in the company, valued at approximately $2,843,075.82. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.

Ingersoll Rand Price Performance

Shares of NYSE IR traded up $0.10 during mid-day trading on Tuesday, reaching $98.84. 2,526,353 shares of the company were exchanged, compared to its average volume of 2,612,189. 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 stock has a market capitalization of $39.88 billion, a PE ratio of 49.10, a PEG ratio of 2.90 and a beta of 1.45. The company’s 50 day moving average price is $93.71 and its 200 day moving average price is $90.57. Ingersoll Rand Inc. has a 52 week low of $59.20 and a 52 week high of $101.30.

Ingersoll Rand (NYSE:IR) last posted its quarterly 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 during the quarter, compared to the consensus estimate of $1.70 billion. Ingersoll Rand had a net margin of 11.85% and a return on equity of 12.57%. Sell-side analysts forecast that Ingersoll Rand Inc. will post 3.17 earnings per share for the current fiscal year.

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

Ingersoll Rand Dividend Announcement

The company 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. This represents a $0.08 annualized dividend and a dividend yield of 0.08%. The ex-dividend date is Thursday, August 15th. Ingersoll Rand’s dividend payout ratio (DPR) is 3.98%.

Analyst Ratings Changes

A number of research firms have recently commented on IR. Jefferies Financial Group began coverage on shares of Ingersoll Rand in a research report on Friday, June 21st. They set a “buy” rating and a $110.00 price target for the company. StockNews.com lowered shares of Ingersoll Rand from a “buy” rating to a “hold” rating in a research report on Saturday, May 4th. 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 report on Monday, May 6th. Citigroup boosted their price target on shares of Ingersoll Rand from $105.00 to $112.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Finally, Wells Fargo & Company boosted their price target on shares of Ingersoll Rand from $98.00 to $102.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Ingersoll Rand has a consensus rating of “Moderate Buy” and an average target price of $98.17.

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.