Mather Group LLC. Makes New Investment in Ingersoll Rand Inc. (NYSE:IR)

Mather Group LLC. bought a new position in Ingersoll Rand Inc. (NYSE:IR) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,554 shares of the industrial products company’s stock, valued at approximately $148,000.

Other hedge funds have also added to or reduced their stakes in the company. Nomura Holdings Inc. grew its stake in Ingersoll Rand by 3,010.2% in the 4th quarter. Nomura Holdings Inc. now owns 211,274 shares of the industrial products company’s stock worth $16,340,000 after acquiring an additional 204,481 shares in the last quarter. Varenne Capital Partners bought a new position in Ingersoll Rand in the 4th quarter worth about $1,693,000. Illinois Municipal Retirement Fund lifted its position in shares of Ingersoll Rand by 297.5% in the 4th quarter. Illinois Municipal Retirement Fund now owns 75,353 shares of the industrial products company’s stock worth $5,828,000 after purchasing an additional 56,394 shares during the period. Arrow Financial Corp lifted its position in shares of Ingersoll Rand by 59.7% in the 4th quarter. Arrow Financial Corp now owns 23,143 shares of the industrial products company’s stock worth $1,790,000 after purchasing an additional 8,649 shares during the period. Finally, Asset Management One Co. Ltd. lifted its position in shares of Ingersoll Rand by 3.8% in the 4th quarter. Asset Management One Co. Ltd. now owns 163,162 shares of the industrial products company’s stock worth $12,691,000 after purchasing an additional 6,042 shares during the period. 95.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Citigroup upped their price target on shares of Ingersoll Rand from $105.00 to $112.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. BNP Paribas assumed coverage on shares of Ingersoll Rand in a research report on Tuesday, March 12th. They issued a “neutral” rating and a $92.00 price target for the company. Stifel Nicolaus reaffirmed a “buy” rating and issued a $102.00 price target on shares of Ingersoll Rand in a research report on Tuesday, March 26th. Barclays lowered their price target on shares of Ingersoll Rand from $105.00 to $104.00 and set an “overweight” rating for the company in a research report on Monday, May 6th. Finally, Robert W. Baird upped their price target on shares of Ingersoll Rand from $107.00 to $109.00 and gave the stock an “outperform” rating in a research report on Monday, May 6th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $95.82.

Insiders Place Their Bets

In other Ingersoll Rand news, 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 transaction, the insider now owns 100,367 shares of the company’s stock, valued at $8,843,336.37. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, insider Vicente Reynal sold 198,486 shares of the 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 sale, the insider now owns 100,367 shares in the company, valued at $8,843,336.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Andrew R. Schiesl sold 22,369 shares of the stock in a transaction 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 sale, the insider now owns 30,846 shares in the company, valued at approximately $2,843,075.82. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company’s stock.

Ingersoll Rand Trading Down 1.5 %

NYSE:IR opened at $93.18 on Friday. The firm has a 50 day moving average of $91.87 and a 200 day moving average of $86.73. The stock has a market capitalization of $37.59 billion, a price-to-earnings ratio of 46.36, a PEG ratio of 3.06 and a beta of 1.43. Ingersoll Rand Inc. has a 52 week low of $59.20 and a 52 week high of $96.67. The company has a quick ratio of 1.71, a current ratio of 2.32 and a debt-to-equity ratio of 0.27.

Ingersoll Rand (NYSE:IR) last posted its quarterly 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. The business had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Ingersoll Rand had a net margin of 11.85% and a return on equity of 12.57%. As a group, sell-side analysts anticipate that Ingersoll Rand Inc. will post 3.18 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

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

Ingersoll Rand announced that its board has authorized a share buyback program on Thursday, April 25th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to reacquire up to 2.7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

About Ingersoll Rand

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.