Creekmur Asset Management LLC Invests $208,000 in Ingersoll Rand Inc. (NYSE:IR)

Creekmur Asset Management LLC bought a new stake in Ingersoll Rand Inc. (NYSE:IR) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 2,695 shares of the industrial products company’s stock, valued at approximately $208,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. ANTIPODES PARTNERS Ltd acquired a new position in Ingersoll Rand during the fourth quarter worth approximately $27,000. Scarborough Advisors LLC acquired a new position in shares of Ingersoll Rand in the 4th quarter valued at $32,000. Wetzel Investment Advisors Inc. purchased a new stake in Ingersoll Rand in the 4th quarter valued at $42,000. CVA Family Office LLC purchased a new stake in Ingersoll Rand in the 4th quarter valued at $71,000. Finally, Massmutual Trust Co. FSB ADV boosted its stake in Ingersoll Rand by 17.9% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,137 shares of the industrial products company’s stock worth $88,000 after purchasing an additional 173 shares during the period. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IR has been the subject of a number of research reports. The Goldman Sachs Group upped their target price on shares of Ingersoll Rand from $87.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Barclays decreased their price objective on Ingersoll Rand from $105.00 to $104.00 and set an “overweight” rating for the company in a research report on Monday, May 6th. Evercore ISI lowered Ingersoll Rand from an “outperform” rating to an “in-line” rating and boosted their target price for the company from $81.00 to $89.00 in a report on Tuesday, February 20th. Wells Fargo & Company cut their price target on Ingersoll Rand from $105.00 to $98.00 and set an “overweight” rating for the company in a research note on Monday, May 6th. Finally, Cfra lifted their price objective on shares of Ingersoll Rand from $68.00 to $85.00 and gave the company a “hold” rating in a research report on Friday, February 16th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Ingersoll Rand has a consensus rating of “Moderate Buy” and an average target price of $95.82.

Ingersoll Rand Price Performance

Ingersoll Rand stock traded down $2.99 during midday trading on Friday, reaching $91.46. The company’s stock had a trading volume of 2,804,078 shares, compared to its average volume of 3,118,830. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.71 and a current ratio of 2.32. Ingersoll Rand Inc. has a fifty-two week low of $59.20 and a fifty-two week high of $96.67. The firm has a market capitalization of $36.90 billion, a PE ratio of 45.50, a P/E/G ratio of 3.05 and a beta of 1.43. The stock’s 50 day simple moving average is $91.83 and its 200 day simple moving average is $86.09.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.67 by $0.09. Ingersoll Rand had a net margin of 11.85% and a return on equity of 12.57%. The firm had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.70 billion. On average, equities research analysts forecast that Ingersoll Rand Inc. will post 3.18 earnings per share for the current year.

Ingersoll Rand Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Thursday, May 16th were issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date was Wednesday, May 15th. Ingersoll Rand’s dividend payout ratio is currently 3.98%.

Ingersoll Rand declared that its board has initiated a share buyback plan on Thursday, April 25th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the industrial products company to purchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Activity at Ingersoll Rand

In related news, insider Vicente Reynal sold 198,486 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $88.11, for a total value of $17,488,601.46. Following the sale, the insider now directly owns 100,367 shares in the company, valued at approximately $8,843,336.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Vicente Reynal sold 198,486 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 100,367 shares of the company’s stock, valued at approximately $8,843,336.37. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Andrew R. Schiesl sold 22,369 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the insider now directly 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 currently owned by company 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.