Assenagon Asset Management S.A. Buys 412 Shares of Ingersoll Rand Inc. (NYSE:IR)

Assenagon Asset Management S.A. raised its stake in Ingersoll Rand Inc. (NYSE:IR) by 2.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,037 shares of the industrial products company’s stock after acquiring an additional 412 shares during the period. Assenagon Asset Management S.A.’s holdings in Ingersoll Rand were worth $1,203,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Empowered Funds LLC grew its position in Ingersoll Rand by 13.4% in the fourth quarter. Empowered Funds LLC now owns 7,277 shares of the industrial products company’s stock worth $658,000 after acquiring an additional 861 shares in the last quarter. Principal Securities Inc. increased its stake in Ingersoll Rand by 36.9% in the 4th quarter. Principal Securities Inc. now owns 5,476 shares of the industrial products company’s stock worth $495,000 after buying an additional 1,477 shares during the period. Allworth Financial LP boosted its holdings in shares of Ingersoll Rand by 30.9% in the fourth quarter. Allworth Financial LP now owns 4,456 shares of the industrial products company’s stock valued at $420,000 after purchasing an additional 1,052 shares during the period. Sanctuary Advisors LLC increased its stake in shares of Ingersoll Rand by 2.6% during the fourth quarter. Sanctuary Advisors LLC now owns 22,798 shares of the industrial products company’s stock valued at $2,143,000 after buying an additional 575 shares during the period. Finally, CIBC Asset Management Inc raised its holdings in shares of Ingersoll Rand by 4.4% in the 4th quarter. CIBC Asset Management Inc now owns 61,467 shares of the industrial products company’s stock valued at $5,560,000 after purchasing an additional 2,592 shares in the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Insider Transactions at Ingersoll Rand

In other Ingersoll Rand news, insider Vicente Reynal sold 38,657 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $83.03, for a total transaction of $3,209,690.71. Following the transaction, the insider now owns 193,186 shares in the company, valued at approximately $16,040,233.58. This represents a 16.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Elizabeth Meloy Hepding sold 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $83.78, for a total value of $293,230.00. Following the completion of the sale, the insider now directly owns 10,986 shares in the company, valued at approximately $920,407.08. The trade was a 24.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.68% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Stifel Nicolaus dropped their price objective on Ingersoll Rand from $94.00 to $77.00 and set a “hold” rating on the stock in a research report on Monday, April 14th. Barclays reduced their target price on Ingersoll Rand from $93.00 to $85.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Wells Fargo & Company raised their price target on Ingersoll Rand from $80.00 to $86.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. Evercore ISI dropped their price target on Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 19th. Finally, Robert W. Baird upped their price objective on shares of Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Ingersoll Rand currently has a consensus rating of “Moderate Buy” and an average target price of $98.91.

Ingersoll Rand Price Performance

Shares of NYSE IR opened at $80.63 on Wednesday. Ingersoll Rand Inc. has a 52 week low of $65.61 and a 52 week high of $106.03. The business’s 50 day moving average price is $78.72 and its 200 day moving average price is $85.01. The company has a quick ratio of 1.76, a current ratio of 2.38 and a debt-to-equity ratio of 0.45. The firm has a market cap of $32.53 billion, a P/E ratio of 39.92, a P/E/G ratio of 3.25 and a beta of 1.44.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings data on Thursday, May 1st. The industrial products company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.02). The business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Ingersoll Rand had a net margin of 11.30% and a return on equity of 12.33%. The firm’s revenue was up 2.8% on a year-over-year basis. During the same period last year, the company earned $0.78 earnings per share. On average, sell-side analysts expect that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand declared that its Board of Directors has initiated a share repurchase plan on Thursday, May 1st that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the industrial products company to buy up to 3.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Ingersoll Rand Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Thursday, May 15th were paid a dividend of $0.02 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. Ingersoll Rand’s payout ratio is currently 3.96%.

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.