Lake Street Advisors Group LLC Invests $204,000 in Ingersoll Rand Inc. (NYSE:IR)

Lake Street Advisors Group LLC purchased a new position in shares of Ingersoll Rand Inc. (NYSE:IR) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,148 shares of the industrial products company’s stock, valued at approximately $204,000.

A number of other large investors also recently modified their holdings of the business. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Ingersoll Rand by 24.4% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 494,450 shares of the industrial products company’s stock valued at $46,948,000 after purchasing an additional 96,982 shares in the last quarter. Nomura Holdings Inc. grew its holdings in shares of 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 during the last quarter. Varenne Capital Partners bought a new stake in shares of Ingersoll Rand during the fourth quarter worth $1,693,000. Illinois Municipal Retirement Fund grew its holdings 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 worth $5,828,000 after purchasing an additional 56,394 shares during the last quarter. Finally, Azzad Asset Management Inc. ADV bought a new stake in shares of Ingersoll Rand during the first quarter worth $1,221,000. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Ingersoll Rand Stock Performance

Shares of NYSE IR traded up $2.01 during midday trading on Thursday, hitting $97.76. 876,462 shares of the company’s stock were exchanged, compared to its average volume of 2,606,489. The company has a quick ratio of 1.71, a current ratio of 2.32 and a debt-to-equity ratio of 0.27. Ingersoll Rand Inc. has a 12 month low of $59.20 and a 12 month high of $101.30. The company’s 50 day moving average price is $93.39 and its 200 day moving average price is $90.02. The firm has a market capitalization of $39.44 billion, a PE ratio of 48.32, a price-to-earnings-growth ratio of 2.92 and a beta of 1.45.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.09. The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.70 billion. Ingersoll Rand had a return on equity of 12.57% and a net margin of 11.85%. As a group, analysts predict that Ingersoll Rand Inc. will post 3.19 earnings per share for the current fiscal year.

Ingersoll Rand announced that its Board of Directors has approved a stock repurchase program on Thursday, April 25th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the industrial products company to purchase up to 2.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on IR shares. Barclays raised their price target on Ingersoll Rand from $104.00 to $106.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Wells Fargo & Company raised their price target on Ingersoll Rand from $98.00 to $102.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Citigroup raised their price target on Ingersoll Rand from $105.00 to $112.00 and gave the company a “buy” rating in a report on Monday, April 8th. StockNews.com lowered Ingersoll Rand from a “buy” rating to a “hold” rating in a research note on Saturday, May 4th. Finally, Robert W. Baird raised their price target on Ingersoll Rand from $107.00 to $109.00 and gave the stock an “outperform” rating in a research report on Monday, May 6th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Ingersoll Rand has a consensus rating of “Moderate Buy” and an average price target of $98.17.

Insider Transactions at Ingersoll Rand

In related 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 transaction of $17,488,601.46. Following the sale, the insider now owns 100,367 shares in the company, valued at approximately $8,843,336.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, 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 sale, the insider now owns 100,367 shares in the company, valued at approximately $8,843,336.37. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Andrew R. Schiesl sold 22,369 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $92.17, for a total value of $2,061,750.73. Following the sale, the insider now owns 30,846 shares in the company, valued at approximately $2,843,075.82. The disclosure for this sale can be found here. 0.68% of the stock is owned by insiders.

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.