Garde Capital Inc. Takes Position in Ingersoll Rand Inc. (NYSE:IR)

Garde Capital Inc. acquired a new stake in Ingersoll Rand Inc. (NYSE:IR) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 648 shares of the industrial products company’s stock, valued at approximately $52,000.

Several other institutional investors have also modified their holdings of the company. Global Wealth Strategies & Associates raised its position in shares of Ingersoll Rand by 325.0% during the first quarter. Global Wealth Strategies & Associates now owns 374 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 286 shares during the period. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Ingersoll Rand during the fourth quarter worth $36,000. OFI Invest Asset Management acquired a new stake in shares of Ingersoll Rand during the fourth quarter worth $38,000. Lee Danner & Bass Inc. acquired a new stake in shares of Ingersoll Rand during the fourth quarter worth $42,000. Finally, Farmers & Merchants Investments Inc. raised its position in shares of Ingersoll Rand by 54.4% during the first quarter. Farmers & Merchants Investments Inc. now owns 488 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 172 shares during the period. Institutional investors and hedge funds own 95.27% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on IR shares. Barclays cut their target price on Ingersoll Rand from $93.00 to $85.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Stifel Nicolaus dropped their price target on Ingersoll Rand from $94.00 to $77.00 and set a “hold” rating on the stock in a research report on Monday, April 14th. Wells Fargo & Company upped their price target on Ingersoll Rand from $80.00 to $86.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. Finally, Citigroup upped their price target on Ingersoll Rand from $88.00 to $91.00 and gave the company a “buy” rating in a research report on Monday, May 5th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $97.80.

Insiders Place Their Bets

In other news, insider Elizabeth Meloy Hepding sold 3,500 shares of the company’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $83.78, for a total transaction of $293,230.00. Following the completion of the sale, the insider now owns 10,986 shares in the company, valued at approximately $920,407.08. This represents a 24.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Vicente Reynal sold 38,657 shares of the company’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $83.03, for a total value of $3,209,690.71. Following the sale, the insider now owns 193,186 shares of the company’s stock, valued at approximately $16,040,233.58. This trade represents a 16.67% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.59% of the company’s stock.

Ingersoll Rand Stock Down 0.5%

NYSE:IR opened at $80.40 on Friday. The company has a current ratio of 2.38, a quick ratio of 1.76 and a debt-to-equity ratio of 0.45. Ingersoll Rand Inc. has a 1-year low of $65.61 and a 1-year high of $106.03. The business’s fifty day moving average price is $79.21 and its 200 day moving average price is $84.52. The firm has a market capitalization of $32.44 billion, a price-to-earnings ratio of 39.80, a PEG ratio of 3.20 and a beta of 1.44.

Ingersoll Rand (NYSE:IR) last issued its earnings results on Thursday, May 1st. The industrial products company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.02). Ingersoll Rand had a return on equity of 12.33% and a net margin of 11.30%. The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period in the previous year, the company earned $0.78 earnings per share. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, sell-side analysts forecast that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Thursday, May 15th were given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.10%. The ex-dividend date of this dividend was Thursday, May 15th. Ingersoll Rand’s payout ratio is currently 3.96%.

Ingersoll Rand announced that its board has initiated a stock repurchase program on Thursday, May 1st that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the industrial products company to buy up to 3.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its stock is 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.