Farther Finance Advisors LLC Acquires 667 Shares of Ingersoll Rand Inc. (NYSE:IR)

Farther Finance Advisors LLC grew its holdings in Ingersoll Rand Inc. (NYSE:IR) by 29.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,945 shares of the industrial products company’s stock after acquiring an additional 667 shares during the quarter. Farther Finance Advisors LLC’s holdings in Ingersoll Rand were worth $237,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on IR shares. Wells Fargo & Company increased their price objective on shares of Ingersoll Rand from $80.00 to $86.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Citigroup increased their price objective on shares of Ingersoll Rand from $88.00 to $91.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. Stifel Nicolaus reduced their price objective on shares of Ingersoll Rand from $94.00 to $77.00 and set a “hold” rating on the stock in a research note on Monday, April 14th. Evercore ISI reduced their price objective on shares of 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, Barclays reduced their price objective on shares of Ingersoll Rand from $93.00 to $85.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $98.91.

Ingersoll Rand Trading Up 0.2%

IR opened at $80.77 on Thursday. The company’s 50 day moving average is $78.86 and its 200-day moving average is $84.98. Ingersoll Rand Inc. has a 1-year low of $65.61 and a 1-year high of $106.03. The company has a current ratio of 2.38, a quick ratio of 1.76 and a debt-to-equity ratio of 0.45. The company has a market cap of $32.59 billion, a P/E ratio of 39.99, a PEG ratio of 3.21 and a beta of 1.44.

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

Ingersoll Rand Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 15th were issued a $0.02 dividend. The ex-dividend date was Thursday, May 15th. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.96%.

Ingersoll Rand announced that its board has authorized a stock repurchase plan on Thursday, May 1st that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the industrial products company to buy up to 3.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at Ingersoll Rand

In other Ingersoll Rand news, insider Vicente Reynal sold 38,657 shares of the firm’s stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $83.03, for a total transaction of $3,209,690.71. Following the completion of the transaction, the insider now owns 193,186 shares in the company, valued at approximately $16,040,233.58. This trade represents a 16.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Elizabeth Meloy Hepding sold 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $83.78, for a total transaction of $293,230.00. Following the transaction, the insider now owns 10,986 shares of the company’s stock, valued at approximately $920,407.08. The trade was a 24.16% decrease in their position. The disclosure for this sale can be found here. 0.59% of the stock is owned by company insiders.

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.