Pitcairn Co. Grows Position in Ingersoll Rand Inc. (NYSE:IR)

Pitcairn Co. lifted its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 4.1% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 3,829 shares of the industrial products company’s stock after acquiring an additional 152 shares during the quarter. Pitcairn Co.’s holdings in Ingersoll Rand were worth $364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of IR. SG Americas Securities LLC lifted its holdings in Ingersoll Rand by 211.2% in the fourth quarter. SG Americas Securities LLC now owns 26,544 shares of the industrial products company’s stock valued at $2,053,000 after acquiring an additional 18,014 shares during the period. HB Wealth Management LLC lifted its position in shares of Ingersoll Rand by 10.5% during the 4th quarter. HB Wealth Management LLC now owns 3,801 shares of the industrial products company’s stock valued at $294,000 after buying an additional 360 shares in the last quarter. Raymond James & Associates lifted its position in shares of Ingersoll Rand by 55.3% during the 4th quarter. Raymond James & Associates now owns 184,394 shares of the industrial products company’s stock valued at $14,261,000 after buying an additional 65,632 shares in the last quarter. CVA Family Office LLC purchased a new position in shares of Ingersoll Rand during the 4th quarter valued at about $71,000. Finally, Pacer Advisors Inc. lifted its position in shares of Ingersoll Rand by 30.9% during the 4th quarter. Pacer Advisors Inc. now owns 40,809 shares of the industrial products company’s stock valued at $3,156,000 after buying an additional 9,631 shares in the last quarter. Institutional investors own 95.27% of the company’s stock.

Insider Buying and Selling at Ingersoll Rand

In other Ingersoll Rand news, insider Vicente Reynal sold 198,486 shares of the company’s stock in a transaction 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 transaction, the insider now 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 Securities & Exchange Commission, which is accessible through this hyperlink. In other Ingersoll Rand news, insider Andrew R. Schiesl sold 22,369 shares of the company’s stock in a transaction 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 transaction, the insider now owns 30,846 shares of the company’s stock, valued at approximately $2,843,075.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Vicente Reynal sold 198,486 shares of the company’s stock in a transaction 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 sale, the insider now owns 100,367 shares of the company’s stock, valued at $8,843,336.37. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

IR has been the topic of a number of analyst reports. Citigroup lifted their price objective on Ingersoll Rand from $105.00 to $112.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Stifel Nicolaus boosted their price target on Ingersoll Rand from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Jefferies Financial Group assumed coverage on Ingersoll Rand in a report on Friday, June 21st. They issued a “buy” rating and a $110.00 price target on the stock. Robert W. Baird boosted their price target on Ingersoll Rand from $107.00 to $109.00 and gave the stock an “outperform” rating in a report on Monday, May 6th. Finally, Wells Fargo & Company boosted their price target on Ingersoll Rand from $98.00 to $102.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.17.

Ingersoll Rand Trading Up 1.2 %

Shares of NYSE IR traded up $1.19 during trading hours on Thursday, hitting $96.94. 2,901,503 shares of the company traded hands, compared to its average volume of 2,620,749. The stock has a market capitalization of $39.11 billion, a price-to-earnings ratio of 48.32, a price-to-earnings-growth ratio of 2.92 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. The company’s 50 day moving average price is $93.39 and its 200 day moving average price is $90.02. Ingersoll Rand Inc. has a 12 month low of $59.20 and a 12 month high of $101.30.

Ingersoll Rand (NYSE:IR) last released 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. The firm had revenue of $1.67 billion for 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%. On average, equities research analysts anticipate 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 authorized a stock buyback program on Thursday, April 25th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the industrial products company to purchase up to 2.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

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.