Ingersoll Rand Inc. (NYSE:IR) Insider Vicente Reynal Sells 198,486 Shares of Stock

Ingersoll Rand Inc. (NYSE:IRGet Free Report) insider Vicente Reynal sold 198,486 shares of the firm’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 of the company’s stock, valued at $8,843,336.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Ingersoll Rand Price Performance

Shares of IR opened at $89.74 on Thursday. The company has a current ratio of 2.32, a quick ratio of 1.71 and a debt-to-equity ratio of 0.27. Ingersoll Rand Inc. has a 1 year low of $59.20 and a 1 year high of $96.67. The stock has a market cap of $36.20 billion, a P/E ratio of 44.65, a price-to-earnings-growth ratio of 2.84 and a beta of 1.43. The stock’s 50-day moving average price is $92.15 and its two-hundred day moving average price is $85.18.

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, topping analysts’ consensus estimates of $0.67 by $0.09. Ingersoll Rand had a return on equity of 12.57% and a net margin of 11.85%. The firm had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.70 billion. On average, equities analysts predict that Ingersoll Rand Inc. will post 3.18 earnings per share for the current year.

Ingersoll Rand declared that its Board of Directors has initiated a share buyback program 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 buy up to 2.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Ingersoll Rand Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Thursday, May 16th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date is Wednesday, May 15th. Ingersoll Rand’s dividend payout ratio (DPR) is currently 3.98%.

Hedge Funds Weigh In On Ingersoll Rand

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Greenleaf Trust lifted its holdings in shares of Ingersoll Rand by 2.0% during the 1st quarter. Greenleaf Trust now owns 5,921 shares of the industrial products company’s stock valued at $562,000 after purchasing an additional 118 shares in the last quarter. Spire Wealth Management lifted its holdings in shares of Ingersoll Rand by 8.5% during the 1st quarter. Spire Wealth Management now owns 1,603 shares of the industrial products company’s stock valued at $152,000 after purchasing an additional 126 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Ingersoll Rand by 28.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 637 shares of the industrial products company’s stock valued at $60,000 after purchasing an additional 141 shares in the last quarter. Pitcairn Co. lifted its holdings in shares of Ingersoll Rand by 4.1% during the 1st quarter. Pitcairn Co. now owns 3,829 shares of the industrial products company’s stock valued at $364,000 after purchasing an additional 152 shares in the last quarter. Finally, Bleakley Financial Group LLC lifted its holdings in shares of Ingersoll Rand by 2.7% during the 1st quarter. Bleakley Financial Group LLC now owns 6,103 shares of the industrial products company’s stock valued at $579,000 after purchasing an additional 163 shares in the last quarter. Institutional investors own 95.27% of the company’s stock.

Wall Street Analysts Forecast Growth

IR has been the subject of a number of research reports. BNP Paribas initiated coverage on Ingersoll Rand in a research note on Tuesday, March 12th. They issued a “neutral” rating and a $92.00 target price for the company. StockNews.com lowered Ingersoll Rand from a “buy” rating to a “hold” rating in a research note on Saturday, May 4th. Wells Fargo & Company lowered their target price on Ingersoll Rand from $105.00 to $98.00 and set an “overweight” rating for the company in a research note on Monday, May 6th. Robert W. Baird raised their target price on Ingersoll Rand from $107.00 to $109.00 and gave the company an “outperform” rating in a research note on Monday, May 6th. Finally, Cfra raised their target price on Ingersoll Rand from $68.00 to $85.00 and gave the company a “hold” rating in a research note on Friday, February 16th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Ingersoll Rand has an average rating of “Moderate Buy” and an average price target of $95.82.

Check Out Our Latest Research Report on Ingersoll Rand

About Ingersoll Rand

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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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Insider Buying and Selling by Quarter for Ingersoll Rand (NYSE:IR)

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