Barlow Wealth Partners Inc. Takes Position in Ingersoll Rand Inc. (NYSE:IR)

Barlow Wealth Partners Inc. purchased a new position in shares of Ingersoll Rand Inc. (NYSE:IR) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,145 shares of the industrial products company’s stock, valued at approximately $243,000.

A number of other institutional investors have also recently added to or reduced their stakes in IR. OFI Invest Asset Management acquired a new position in shares of Ingersoll Rand in the third quarter worth about $25,000. ANTIPODES PARTNERS Ltd acquired a new stake in shares of Ingersoll Rand during the fourth quarter worth approximately $27,000. Quintet Private Bank Europe S.A. bought a new stake in shares of Ingersoll Rand in the third quarter worth $28,000. Clearstead Advisors LLC increased its stake in shares of Ingersoll Rand by 348.2% in the third quarter. Clearstead Advisors LLC now owns 493 shares of the industrial products company’s stock worth $31,000 after buying an additional 383 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Ingersoll Rand in the third quarter valued at $32,000. Institutional investors and hedge funds own 95.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on IR. BNP Paribas initiated coverage on shares of Ingersoll Rand in a research note on Tuesday, March 12th. They issued a “neutral” rating and a $92.00 target price on the stock. Citigroup lifted 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. StockNews.com downgraded Ingersoll Rand from a “buy” rating to a “hold” rating in a report on Saturday. Robert W. Baird raised their price objective on Ingersoll Rand from $107.00 to $109.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, The Goldman Sachs Group boosted their target price on shares of Ingersoll Rand from $87.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Ingersoll Rand has a consensus rating of “Moderate Buy” and an average price target of $95.82.

Ingersoll Rand Stock Performance

IR stock traded up $1.37 during trading on Tuesday, reaching $89.85. 2,973,255 shares of the company’s stock were exchanged, compared to its average volume of 2,582,906. The firm has a market cap of $36.26 billion, a PE ratio of 44.70, a P/E/G ratio of 3.02 and a beta of 1.40. The company’s fifty day moving average price is $91.90 and its 200-day moving average price is $81.21. Ingersoll Rand Inc. has a 1-year low of $56.49 and a 1-year high of $96.17. 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 (NYSE:IR) last released its quarterly earnings results on Thursday, February 15th. The industrial products company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.76 billion. Ingersoll Rand had a net margin of 11.85% and a return on equity of 12.57%. On average, research analysts expect that Ingersoll Rand Inc. will post 3.1 EPS for the current fiscal year.

Ingersoll Rand Announces Dividend

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

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

Insider Activity at Ingersoll Rand

In other Ingersoll Rand news, CAO Michael J. Scheske sold 7,590 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $88.00, for a total value of $667,920.00. Following the completion of the sale, the chief accounting officer now directly owns 9,715 shares of the company’s stock, valued at approximately $854,920. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Vicente Reynal sold 240,000 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $90.16, for a total transaction of $21,638,400.00. Following the completion of the sale, the insider now directly owns 91,957 shares of the company’s stock, valued at approximately $8,290,843.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Michael J. Scheske sold 7,590 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $88.00, for a total value of $667,920.00. Following the sale, the chief accounting officer now owns 9,715 shares in the company, valued at approximately $854,920. The disclosure for this sale can be found here. Insiders sold 293,011 shares of company stock valued at $26,374,789 over the last 90 days. 0.83% of the stock is currently owned by corporate 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.