Ingersoll Rand Inc. (NYSE:IR) Shares Sold by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL decreased its position in Ingersoll Rand Inc. (NYSE:IR) by 3.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 128,834 shares of the industrial products company’s stock after selling 4,410 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Ingersoll Rand were worth $12,233,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Greenleaf Trust raised its position in shares of Ingersoll Rand by 2.0% during the first quarter. Greenleaf Trust now owns 5,921 shares of the industrial products company’s stock worth $562,000 after purchasing an additional 118 shares during the period. Spire Wealth Management raised its position in shares of Ingersoll Rand by 8.5% during the first quarter. Spire Wealth Management now owns 1,603 shares of the industrial products company’s stock worth $152,000 after purchasing an additional 126 shares during the period. Geneos Wealth Management Inc. raised its position in shares of Ingersoll Rand by 28.4% during the first quarter. Geneos Wealth Management Inc. now owns 637 shares of the industrial products company’s stock worth $60,000 after purchasing an additional 141 shares during the period. Pitcairn Co. raised its position in shares of Ingersoll Rand by 4.1% during the first quarter. Pitcairn Co. now owns 3,829 shares of the industrial products company’s stock worth $364,000 after purchasing an additional 152 shares during the period. Finally, Bleakley Financial Group LLC raised its position in shares of Ingersoll Rand by 2.7% during the first quarter. Bleakley Financial Group LLC now owns 6,103 shares of the industrial products company’s stock worth $579,000 after purchasing an additional 163 shares during the period. Institutional investors and hedge funds own 95.27% of the company’s stock.

Insiders Place Their Bets

In other Ingersoll Rand news, 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 value of $2,061,750.73. Following the completion of the sale, the insider now owns 30,846 shares in the company, valued at approximately $2,843,075.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Andrew R. Schiesl sold 22,369 shares of the stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $92.17, for a total value of $2,061,750.73. Following the completion of the transaction, 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 legal filing with the SEC, which is available at this link. Also, insider Vicente Reynal sold 198,486 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $8,843,336.37. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on IR shares. Wells Fargo & Company upped their price target on Ingersoll Rand from $98.00 to $102.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Robert W. Baird upped their price target on Ingersoll Rand from $107.00 to $109.00 and gave the company an “outperform” rating in a research report on Monday, May 6th. Citigroup upped their price target on Ingersoll Rand from $105.00 to $112.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Jefferies Financial Group started coverage on Ingersoll Rand in a research report on Friday, June 21st. They set a “buy” rating and a $110.00 price target on the stock. Finally, StockNews.com lowered Ingersoll Rand from a “buy” rating to a “hold” rating in a research report on Saturday, May 4th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $98.17.

Ingersoll Rand Stock Performance

NYSE:IR traded up $1.76 during mid-day trading on Friday, hitting $98.70. 1,803,638 shares of the company’s stock traded hands, compared to its average volume of 1,944,285. The firm has a 50 day moving average of $93.62 and a two-hundred day moving average of $90.22. Ingersoll Rand Inc. has a 12 month low of $59.20 and a 12 month high of $101.30. The firm has a market capitalization of $39.82 billion, a price-to-earnings ratio of 49.10, a price-to-earnings-growth ratio of 2.84 and a beta of 1.45. The company has a current ratio of 2.32, a quick ratio of 1.71 and a debt-to-equity ratio of 0.27.

Ingersoll Rand (NYSE:IR) last announced its earnings results on Thursday, May 2nd. The industrial products company reported $0.76 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.70 billion. On average, equities analysts forecast that Ingersoll Rand Inc. will post 3.17 earnings per share for the current fiscal year.

Ingersoll Rand announced that its board has authorized a share buyback plan on Thursday, April 25th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the industrial products company to repurchase up to 2.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Ingersoll Rand Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th will be given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.08%. Ingersoll Rand’s dividend payout ratio is currently 3.98%.

Ingersoll Rand Company 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.