Romano Brothers AND Company Lowers Holdings in Ingersoll Rand Inc. (NYSE:IR)

Romano Brothers AND Company lowered its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 3.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,668 shares of the industrial products company’s stock after selling 176 shares during the quarter. Romano Brothers AND Company’s holdings in Ingersoll Rand were worth $538,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Nomura Holdings Inc. raised its holdings in Ingersoll Rand by 3,010.2% during the fourth quarter. Nomura Holdings Inc. now owns 211,274 shares of the industrial products company’s stock worth $16,340,000 after purchasing an additional 204,481 shares in the last quarter. Varenne Capital Partners purchased a new position in shares of Ingersoll Rand during the 4th quarter worth approximately $1,693,000. Illinois Municipal Retirement Fund lifted its holdings 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 valued at $5,828,000 after buying an additional 56,394 shares during the period. Arrow Financial Corp boosted its stake in shares of Ingersoll Rand by 59.7% in the fourth quarter. Arrow Financial Corp now owns 23,143 shares of the industrial products company’s stock valued at $1,790,000 after buying an additional 8,649 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its stake in shares of Ingersoll Rand by 3.8% in the fourth quarter. Asset Management One Co. Ltd. now owns 163,162 shares of the industrial products company’s stock valued at $12,691,000 after buying an additional 6,042 shares in the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.

Insider Activity

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

Ingersoll Rand Price Performance

IR stock opened at $90.84 on Friday. The stock’s 50 day moving average price is $92.00 and its 200 day moving average price is $87.60. The firm has a market cap of $36.65 billion, a P/E ratio of 45.19, a PEG ratio of 2.93 and a beta of 1.43. 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.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.09. The company had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Ingersoll Rand had a return on equity of 12.57% and a net margin of 11.85%. On average, sell-side analysts expect that Ingersoll Rand Inc. will post 3.19 earnings per share for the current fiscal year.

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

Ingersoll Rand Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Thursday, May 16th were issued a dividend of $0.02 per share. The ex-dividend date 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 (DPR) is presently 3.98%.

Analysts Set New Price Targets

Several research analysts have issued reports on IR shares. Wells Fargo & Company cut their price objective on Ingersoll Rand from $105.00 to $98.00 and set an “overweight” rating for the company in a research report on Monday, May 6th. StockNews.com downgraded shares of Ingersoll Rand from a “buy” rating to a “hold” rating in a report on Saturday, May 4th. Citigroup boosted their price objective on shares of Ingersoll Rand from $105.00 to $112.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Jefferies Financial Group began coverage on shares of Ingersoll Rand in a report on Friday, June 21st. They issued a “buy” rating and a $110.00 target price for the company. Finally, Barclays reduced 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. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Ingersoll Rand presently has an average rating of “Moderate Buy” and an average target price of $97.00.

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.