2,249 Shares in Ingersoll Rand Inc. (NYSE:IR) Acquired by Chemung Canal Trust Co.

Chemung Canal Trust Co. purchased a new stake in Ingersoll Rand Inc. (NYSE:IR) during the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 2,249 shares of the industrial products company’s stock, valued at approximately $214,000.

Several other institutional investors also recently made changes to their positions in IR. ANTIPODES PARTNERS Ltd purchased a new position in Ingersoll Rand in the fourth quarter valued at approximately $27,000. Kapitalo Investimentos Ltda purchased a new position in shares of Ingersoll Rand in the 4th quarter valued at $28,000. Riverview Trust Co acquired a new position in shares of Ingersoll Rand during the 1st quarter valued at $29,000. Scarborough Advisors LLC purchased a new stake in Ingersoll Rand during the 4th quarter worth $32,000. Finally, Wetzel Investment Advisors Inc. acquired a new stake in Ingersoll Rand in the 4th quarter valued at $42,000. 95.27% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Vicente Reynal sold 198,486 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $88.11, for a total transaction 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 SEC, which is available through this hyperlink. In other Ingersoll Rand news, insider Andrew R. Schiesl sold 22,369 shares of the firm’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 sale, the insider now directly owns 30,846 shares in the company, valued at $2,843,075.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Vicente Reynal sold 198,486 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $88.11, for a total transaction of $17,488,601.46. Following the transaction, the insider now owns 100,367 shares of the company’s stock, valued at approximately $8,843,336.37. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group initiated coverage on Ingersoll Rand in a research report on Friday, June 21st. They issued a “buy” rating and a $110.00 target price for the company. Stifel Nicolaus restated a “buy” rating and issued a $102.00 price target on shares of Ingersoll Rand in a report on Tuesday, March 26th. Barclays dropped their price objective on shares of Ingersoll Rand from $105.00 to $104.00 and set an “overweight” rating on the stock in a research note on Monday, May 6th. Citigroup upped their target price on shares of Ingersoll Rand from $105.00 to $112.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Finally, BNP Paribas started coverage on shares of Ingersoll Rand in a research note on Tuesday, March 12th. They set a “neutral” rating and a $92.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $97.00.

Ingersoll Rand Price Performance

IR opened at $90.84 on Friday. 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 Inc. has a 1-year low of $59.20 and a 1-year high of $96.67. The company has a 50-day moving average of $92.00 and a 200-day moving average of $87.60. The company has a market capitalization of $36.65 billion, a P/E ratio of 45.19, a PEG ratio of 2.93 and a beta of 1.43.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.76 earnings per share for the quarter, beating 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. Equities analysts expect that Ingersoll Rand Inc. will post 3.19 EPS for the current fiscal year.

Ingersoll Rand declared that its board has approved a stock repurchase program on Thursday, April 25th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the industrial products company to reacquire up to 2.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Ingersoll Rand Dividend Announcement

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

Ingersoll Rand 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.