Fulton Bank N.A. Has $492,000 Holdings in Ingersoll Rand Inc. (NYSE:IR)

Fulton Bank N.A. grew its position in Ingersoll Rand Inc. (NYSE:IR) by 14.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,419 shares of the industrial products company’s stock after purchasing an additional 686 shares during the period. Fulton Bank N.A.’s holdings in Ingersoll Rand were worth $492,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Headlands Technologies LLC acquired a new position in Ingersoll Rand in the 1st quarter worth about $28,000. Riverview Trust Co acquired a new position in Ingersoll Rand in the 1st quarter worth about $29,000. Kapitalo Investimentos Ltda acquired a new position in Ingersoll Rand in the 4th quarter worth about $28,000. ESL Trust Services LLC acquired a new position in Ingersoll Rand in the 1st quarter worth about $35,000. Finally, Scarborough Advisors LLC acquired a new position in Ingersoll Rand in the 4th quarter worth about $32,000. 95.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on IR shares. Robert W. Baird increased their price objective on Ingersoll Rand from $109.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. StockNews.com lowered Ingersoll Rand from a “buy” rating to a “hold” rating in a report on Saturday, May 4th. Cfra reissued a “hold” rating and set a $85.00 price objective on shares of Ingersoll Rand in a report on Friday, August 2nd. Jefferies Financial Group started coverage on Ingersoll Rand in a report on Friday, June 21st. They set a “buy” rating and a $110.00 price objective on the stock. Finally, Barclays decreased their target price on Ingersoll Rand from $106.00 to $101.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $100.36.

Insider Activity

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

Ingersoll Rand Trading Down 0.0 %

Shares of NYSE IR traded down $0.01 during midday trading on Wednesday, hitting $88.14. The stock had a trading volume of 1,292,821 shares, compared to its average volume of 2,677,975. The company’s 50-day simple moving average is $93.35 and its 200 day simple moving average is $91.17. The firm has a market cap of $35.56 billion, a P/E ratio of 43.86, a price-to-earnings-growth ratio of 2.68 and a beta of 1.45. Ingersoll Rand Inc. has a fifty-two week low of $59.20 and a fifty-two week high of $101.30. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.18 and a quick ratio of 1.71.

Ingersoll Rand Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Ingersoll Rand’s dividend payout ratio (DPR) is currently 3.98%.

Ingersoll Rand announced that its Board of Directors has approved a share repurchase 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 repurchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

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.