Foster Group Inc. Invests $249,000 in Ingersoll Rand Inc. (NYSE:IR)

Foster Group Inc. purchased a new position in Ingersoll Rand Inc. (NYSE:IR) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,627 shares of the industrial products company’s stock, valued at approximately $249,000.

A number of other institutional investors have also recently made changes to their positions in IR. ANTIPODES PARTNERS Ltd bought a new position in shares of Ingersoll Rand during the 4th quarter valued at $27,000. Kapitalo Investimentos Ltda bought a new position in shares of Ingersoll Rand during the 4th quarter valued at $28,000. Scarborough Advisors LLC bought a new position in shares of Ingersoll Rand during the 4th quarter valued at $32,000. Wetzel Investment Advisors Inc. bought a new position in shares of Ingersoll Rand during the 4th quarter valued at $42,000. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of Ingersoll Rand during the 4th quarter valued at $62,000. Institutional investors own 95.27% of the company’s stock.

Wall Street Analysts Forecast Growth

IR has been the topic of several recent research reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $102.00 target price on shares of Ingersoll Rand in a report on Tuesday, March 26th. Citigroup increased their target price on shares of Ingersoll Rand from $105.00 to $112.00 and gave the company a “buy” rating in a report on Monday, April 8th. Wells Fargo & Company dropped their price target on shares of Ingersoll Rand from $105.00 to $98.00 and set an “overweight” rating for the company in a research report on Monday, May 6th. Barclays dropped their price target on shares of Ingersoll Rand from $105.00 to $104.00 and set an “overweight” rating for the company in a research report on Monday, May 6th. Finally, BNP Paribas assumed coverage on shares of Ingersoll Rand in a research report on Tuesday, March 12th. They set a “neutral” rating and a $92.00 price target for the company. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Ingersoll Rand presently has a consensus rating of “Moderate Buy” and an average price target of $95.82.

Ingersoll Rand Trading Down 1.5 %

NYSE:IR opened at $93.18 on Friday. The company has a 50-day moving average price of $91.87 and a 200-day moving average price of $86.73. Ingersoll Rand Inc. has a 12 month low of $59.20 and a 12 month high of $96.67. 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 stock has a market cap of $37.59 billion, a price-to-earnings ratio of 46.36, a P/E/G ratio of 3.06 and a beta of 1.43.

Ingersoll Rand (NYSE:IR) last posted its earnings results on Thursday, May 2nd. The industrial products company reported $0.76 EPS for the quarter, topping 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. Equities analysts predict that Ingersoll Rand Inc. will post 3.18 EPS for the current year.

Ingersoll Rand Announces Dividend

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

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

Insider Activity at Ingersoll Rand

In related news, insider Andrew R. Schiesl sold 22,369 shares of Ingersoll Rand stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $92.17, for a total transaction of $2,061,750.73. Following the completion of the transaction, the insider now directly 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 SEC, which is available at this hyperlink. In related news, insider Vicente Reynal sold 198,486 shares of Ingersoll Rand stock in a transaction dated 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 this hyperlink. Also, insider Andrew R. Schiesl sold 22,369 shares of Ingersoll Rand stock in a transaction dated Friday, May 17th. The shares were 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 of the company’s stock, valued at $2,843,075.82. The disclosure for this sale can be found here. 0.68% 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.