Silverlake Wealth Management LLC Takes Position in Ingersoll Rand Inc. (NYSE:IR)

Silverlake Wealth Management LLC bought a new stake in Ingersoll Rand Inc. (NYSE:IR) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 2,158 shares of the industrial products company’s stock, valued at approximately $205,000.

Several other institutional investors also recently bought and sold shares of the stock. Riverview Trust Co bought a new position in shares of Ingersoll Rand during the first quarter valued at about $29,000. ANTIPODES PARTNERS Ltd purchased a new stake in Ingersoll Rand in the 4th quarter worth approximately $27,000. Kapitalo Investimentos Ltda bought a new stake in shares of Ingersoll Rand in the 4th quarter worth approximately $28,000. Scarborough Advisors LLC bought a new position in shares of Ingersoll Rand during the fourth quarter valued at approximately $32,000. Finally, Register Financial Advisors LLC purchased a new stake in Ingersoll Rand in the first quarter worth $49,000. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on IR shares. Robert W. Baird upped their price objective 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. Barclays cut their price objective on Ingersoll Rand from $105.00 to $104.00 and set an “overweight” rating on the stock in a research report on Monday, May 6th. Citigroup increased their target price on Ingersoll Rand from $105.00 to $112.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Wells Fargo & Company dropped their price objective 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. Finally, Stifel Nicolaus restated a “buy” rating and issued a $102.00 price objective on shares of Ingersoll Rand in a report on Tuesday, March 26th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $97.00.

Insider Transactions at Ingersoll Rand

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

Ingersoll Rand Price Performance

Shares of NYSE IR opened at $90.66 on Wednesday. The firm has a market cap of $36.57 billion, a P/E ratio of 45.10, a PEG ratio of 2.65 and a beta of 1.45. Ingersoll Rand Inc. has a twelve month low of $59.20 and a twelve month 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. The company has a 50 day moving average of $92.01 and a 200 day moving average of $87.80.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.70 billion. As a group, research analysts expect that Ingersoll Rand Inc. will post 3.19 EPS for the current fiscal year.

Ingersoll Rand Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Thursday, May 16th were given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis 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 declared that its Board of Directors has authorized a stock repurchase plan on Thursday, April 25th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the industrial products company to reacquire up to 2.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

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.