AIA Group Ltd Boosts Position in Ingersoll Rand Inc. (NYSE:IR)

AIA Group Ltd lifted its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 295.1% during the 1st quarter, Holdings Channel reports. The fund owned 34,194 shares of the industrial products company’s stock after buying an additional 25,539 shares during the quarter. AIA Group Ltd’s holdings in Ingersoll Rand were worth $3,247,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. grew its position in Ingersoll Rand by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 45,384,257 shares of the industrial products company’s stock valued at $3,510,018,000 after acquiring an additional 176,734 shares in the last quarter. Capital International Investors grew its position in shares of Ingersoll Rand by 35.4% during the fourth quarter. Capital International Investors now owns 12,246,481 shares of the industrial products company’s stock worth $947,143,000 after buying an additional 3,202,973 shares in the last quarter. Capital Research Global Investors grew its position in shares of Ingersoll Rand by 46.6% during the fourth quarter. Capital Research Global Investors now owns 9,811,827 shares of the industrial products company’s stock worth $758,847,000 after buying an additional 3,119,793 shares in the last quarter. Putnam Investments LLC grew its position in shares of Ingersoll Rand by 8.0% during the fourth quarter. Putnam Investments LLC now owns 9,443,792 shares of the industrial products company’s stock worth $730,383,000 after buying an additional 696,610 shares in the last quarter. Finally, Fisher Asset Management LLC grew its position in shares of Ingersoll Rand by 2.7% during the fourth quarter. Fisher Asset Management LLC now owns 6,370,883 shares of the industrial products company’s stock worth $492,724,000 after buying an additional 166,999 shares in the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Trading Up 1.8 %

NYSE:IR traded up $1.76 during mid-day trading on Friday, reaching $97.26. The company’s stock had a trading volume of 2,807,639 shares, compared to its average volume of 2,631,165. The company’s fifty day simple moving average is $92.16 and its two-hundred day simple moving average is $88.70. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.32 and a quick ratio of 1.71. Ingersoll Rand Inc. has a twelve month low of $59.20 and a twelve month high of $98.28. The stock has a market cap of $39.24 billion, a P/E ratio of 48.39, a P/E/G ratio of 2.75 and a beta of 1.45.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings data 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. The business had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.70 billion. Ingersoll Rand had a return on equity of 12.57% and a net margin of 11.85%. On average, equities analysts predict that Ingersoll Rand Inc. will post 3.19 EPS for the current year.

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

Ingersoll Rand Dividend Announcement

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

Insider Activity at Ingersoll Rand

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Wells Fargo & Company boosted their target price on Ingersoll Rand from $98.00 to $102.00 and gave the stock an “overweight” rating in a research note on Wednesday. Barclays boosted their target price on Ingersoll Rand from $104.00 to $106.00 and gave the stock an “overweight” rating in a research note on Wednesday. Citigroup boosted their price objective on Ingersoll Rand from $105.00 to $112.00 and gave the company a “buy” rating in a research note on Monday, April 8th. StockNews.com cut Ingersoll Rand from a “buy” rating to a “hold” rating in a research note on Saturday, May 4th. Finally, Jefferies Financial Group started coverage on Ingersoll Rand in a research note on Friday, June 21st. They issued a “buy” rating and a $110.00 price objective for the company. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $97.50.

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.