Park Avenue Securities LLC Acquires 387 Shares of Ingersoll Rand Inc. (NYSE:IR)

Park Avenue Securities LLC boosted its stake in Ingersoll Rand Inc. (NYSE:IR) by 12.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,551 shares of the industrial products company’s stock after acquiring an additional 387 shares during the period. Park Avenue Securities LLC’s holdings in Ingersoll Rand were worth $337,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in IR. Nomura Holdings Inc. grew its position in shares of 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 buying an additional 204,481 shares during the period. Varenne Capital Partners bought a new position in shares of Ingersoll Rand in the fourth quarter worth approximately $1,693,000. Illinois Municipal Retirement Fund increased its position in shares of Ingersoll Rand by 297.5% during the fourth quarter. Illinois Municipal Retirement Fund now owns 75,353 shares of the industrial products company’s stock valued at $5,828,000 after acquiring an additional 56,394 shares in the last quarter. Arrow Financial Corp lifted its position in Ingersoll Rand by 59.7% in the 4th quarter. Arrow Financial Corp now owns 23,143 shares of the industrial products company’s stock valued at $1,790,000 after acquiring an additional 8,649 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its holdings 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 in the last quarter. 95.27% of the stock is currently owned by institutional investors.

Ingersoll Rand Trading Down 0.1 %

Ingersoll Rand stock opened at $90.84 on Monday. The firm has a market cap of $36.65 billion, a PE ratio of 45.19, a P/E/G ratio of 2.93 and a beta of 1.43. The company has a current ratio of 2.32, a quick ratio of 1.71 and a debt-to-equity ratio of 0.27. The stock’s 50 day simple moving average is $92.00 and its two-hundred day simple moving average is $87.70. Ingersoll Rand Inc. has a 12 month low of $59.20 and a 12 month high of $96.67.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.09. The company had revenue of $1.67 billion for 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%. Analysts anticipate that Ingersoll Rand Inc. will post 3.19 earnings per share for the current year.

Ingersoll Rand Dividend Announcement

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

Ingersoll Rand declared that its Board of Directors has initiated a stock repurchase plan on Thursday, April 25th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the industrial products company to buy up to 2.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on IR shares. Wells Fargo & Company lowered their target price on shares of Ingersoll Rand from $105.00 to $98.00 and set an “overweight” rating on the stock in a research note on Monday, May 6th. Citigroup boosted their target price on shares of Ingersoll Rand from $105.00 to $112.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $102.00 target price on shares of Ingersoll Rand in a report on Tuesday, March 26th. Robert W. Baird increased their target price on shares of Ingersoll Rand from $107.00 to $109.00 and gave the stock an “outperform” rating in a report on Monday, May 6th. Finally, BNP Paribas began coverage on Ingersoll Rand in a research note on Tuesday, March 12th. They issued a “neutral” rating and a $92.00 price target for the company. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Ingersoll Rand presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.00.

Insider Buying and Selling

In other news, insider Vicente Reynal sold 198,486 shares of the 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 sale, the insider now directly owns 100,367 shares in the company, valued at $8,843,336.37. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Ingersoll Rand news, insider Andrew R. Schiesl sold 22,369 shares of Ingersoll Rand stock in a transaction dated 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 of the company’s stock, valued at approximately $2,843,075.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 value of $17,488,601.46. Following the transaction, the insider now directly owns 100,367 shares of the company’s stock, valued at $8,843,336.37. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by corporate insiders.

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.