American International Group Inc. Boosts Holdings in Ingersoll Rand Inc. (NYSE:IR)

American International Group Inc. increased its stake in shares of Ingersoll Rand Inc. (NYSE:IRFree Report) by 2.7% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 109,877 shares of the industrial products company’s stock after acquiring an additional 2,867 shares during the period. American International Group Inc.’s holdings in Ingersoll Rand were worth $8,498,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in IR. Norges Bank acquired a new position in shares of Ingersoll Rand in the 4th quarter valued at approximately $301,890,000. Capital International Investors increased its holdings 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 valued at $947,143,000 after acquiring an additional 3,202,973 shares during the last quarter. Capital Research Global Investors increased its holdings 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 valued at $758,847,000 after acquiring an additional 3,119,793 shares during the last quarter. UBS Group AG increased its holdings 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 valued at $160,637,000 after acquiring an additional 1,065,413 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its holdings in shares of Ingersoll Rand by 101.0% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,700,061 shares of the industrial products company’s stock valued at $108,328,000 after acquiring an additional 854,314 shares during the last quarter. 95.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on IR shares. Barclays lowered their price target on Ingersoll Rand from $105.00 to $104.00 and set an “overweight” rating for the company in a report on Monday, May 6th. The Goldman Sachs Group boosted their price target on Ingersoll Rand from $87.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Citigroup upped their price objective on Ingersoll Rand from $105.00 to $112.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. BNP Paribas initiated coverage on Ingersoll Rand in a research note on Tuesday, March 12th. They set a “neutral” rating and a $92.00 price objective for the company. Finally, Stifel Nicolaus restated a “buy” rating and set a $102.00 price objective on shares of Ingersoll Rand in a research note on Tuesday, March 26th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $95.82.

Get Our Latest Report on IR

Ingersoll Rand Trading Up 0.8 %

NYSE:IR opened at $89.13 on Monday. 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 $35.96 billion, a price-to-earnings ratio of 44.34, a PEG ratio of 2.88 and a beta of 1.43. The business has a fifty day moving average of $91.90 and a 200-day moving average of $85.54. 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 released its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.09. Ingersoll Rand had a return on equity of 12.57% and a net margin of 11.85%. The company had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Equities analysts predict that Ingersoll Rand Inc. will post 3.18 earnings per share for the current year.

Ingersoll Rand Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Thursday, May 16th were issued a $0.02 dividend. The ex-dividend date was Wednesday, May 15th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Ingersoll Rand’s dividend payout ratio (DPR) is 3.98%.

Ingersoll Rand announced that its Board of Directors has initiated a stock repurchase program on Thursday, April 25th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the industrial products company to purchase up to 2.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Insider Activity

In other news, insider Andrew R. Schiesl sold 22,369 shares of the company’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $92.17, for a total value of $2,061,750.73. Following the completion of the sale, the insider now owns 30,846 shares in the company, valued at $2,843,075.82. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Vicente Reynal sold 198,486 shares of the 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 completion of the sale, the insider now directly owns 100,367 shares of the company’s stock, valued at approximately $8,843,336.37. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Andrew R. Schiesl sold 22,369 shares of the stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $92.17, for a total value of $2,061,750.73. Following the completion of the sale, the insider now directly owns 30,846 shares of the company’s stock, valued at $2,843,075.82. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.

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.

See Also

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

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