Exencial Wealth Advisors LLC Makes New Investment in Ingersoll Rand Inc. (NYSE:IR)

Exencial Wealth Advisors LLC purchased a new position in Ingersoll Rand Inc. (NYSE:IRFree Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,670 shares of the industrial products company’s stock, valued at approximately $207,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV raised its holdings in Ingersoll Rand by 17.9% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,137 shares of the industrial products company’s stock worth $88,000 after buying an additional 173 shares during the period. Pinnacle Associates Ltd. raised its holdings in Ingersoll Rand by 4.7% during the 4th quarter. Pinnacle Associates Ltd. now owns 4,333 shares of the industrial products company’s stock worth $335,000 after buying an additional 193 shares during the period. Parsons Capital Management Inc. RI raised its holdings in Ingersoll Rand by 3.2% during the 4th quarter. Parsons Capital Management Inc. RI now owns 6,399 shares of the industrial products company’s stock worth $495,000 after buying an additional 200 shares during the period. Parallel Advisors LLC grew its stake in Ingersoll Rand by 8.6% during the 4th quarter. Parallel Advisors LLC now owns 2,552 shares of the industrial products company’s stock valued at $197,000 after acquiring an additional 203 shares in the last quarter. Finally, Huntington National Bank grew its stake in Ingersoll Rand by 7.1% during the 3rd quarter. Huntington National Bank now owns 3,269 shares of the industrial products company’s stock valued at $208,000 after acquiring an additional 218 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Vicente Reynal sold 198,486 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $8,843,336.37. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Andrew R. Schiesl sold 22,369 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 30,846 shares in the company, valued at $2,843,075.82. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Vicente Reynal sold 198,486 shares of the company’s stock in a transaction that occurred on 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 owns 100,367 shares of the company’s stock, valued at $8,843,336.37. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company’s stock.

Analyst Upgrades and Downgrades

IR has been the topic of several research analyst reports. Barclays lowered their target price on Ingersoll Rand from $105.00 to $104.00 and set an “overweight” rating on the stock in a research note on Monday, May 6th. Evercore ISI cut Ingersoll Rand from an “outperform” rating to an “in-line” rating and lifted their target price for the company from $81.00 to $89.00 in a research note on Tuesday, February 20th. Cfra lifted 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. The Goldman Sachs Group lifted their target price on Ingersoll Rand from $87.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $102.00 price target on shares of Ingersoll Rand in a research note on Tuesday, March 26th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $95.82.

View Our Latest Analysis on IR

Ingersoll Rand Trading Up 0.8 %

Shares of NYSE IR opened at $89.13 on Monday. The business has a 50 day simple moving average of $91.90 and a 200 day simple moving average of $85.54. Ingersoll Rand Inc. has a 52 week low of $59.20 and a 52 week high of $96.67. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.71 and a current ratio of 2.32. 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.

Ingersoll Rand (NYSE:IRGet Free Report) last posted 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. 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 during the quarter, compared to analyst estimates of $1.70 billion. On average, research analysts predict that Ingersoll Rand Inc. will post 3.18 earnings per share for the current fiscal year.

Ingersoll Rand declared that its Board of Directors has approved a share repurchase program on Thursday, April 25th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the industrial products company to repurchase up to 2.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Ingersoll Rand Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Investors 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 yield of 0.09%. Ingersoll Rand’s dividend payout ratio (DPR) is currently 3.98%.

About Ingersoll Rand

(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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