HighPoint Advisor Group LLC Invests $171,000 in Ingersoll Rand Inc. (NYSE:IR)

HighPoint Advisor Group LLC acquired a new position in shares of Ingersoll Rand Inc. (NYSE:IR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,207 shares of the industrial products company’s stock, valued at approximately $171,000.

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

Insiders Place Their Bets

In other Ingersoll Rand news, insider Vicente Reynal sold 198,486 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $8,843,336.37. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Andrew R. Schiesl sold 22,369 shares of Ingersoll Rand stock in a transaction that occurred on 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 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 filing with the SEC, which can be accessed through this link. Also, insider Vicente Reynal sold 198,486 shares of Ingersoll Rand stock in a transaction 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 transaction, the insider now owns 100,367 shares in the company, valued at approximately $8,843,336.37. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company’s stock.

Ingersoll Rand Price Performance

Shares of IR opened at $92.89 on Friday. The company’s 50-day moving average is $91.89 and its 200-day moving average is $86.98. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.32 and a quick ratio of 1.71. The firm has a market capitalization of $37.47 billion, a PE ratio of 46.21, a PEG ratio of 3.01 and a beta of 1.43. Ingersoll Rand Inc. has a fifty-two week low of $59.20 and a fifty-two week high of $96.67.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.09. The business had revenue of $1.67 billion during 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%. Equities analysts forecast that Ingersoll Rand Inc. will post 3.18 EPS for the current year.

Ingersoll Rand announced that its Board of Directors has authorized a share buyback program on Thursday, April 25th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the industrial products company to purchase up to 2.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Ingersoll Rand Announces Dividend

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

Analysts Set New Price Targets

Several research firms recently issued reports on IR. Citigroup increased their price target on shares of Ingersoll Rand from $105.00 to $112.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. BNP Paribas assumed coverage on Ingersoll Rand in a research note on Tuesday, March 12th. They issued a “neutral” rating and a $92.00 price target on the stock. StockNews.com cut Ingersoll Rand from a “buy” rating to a “hold” rating in a research report on Saturday, May 4th. Stifel Nicolaus restated a “buy” rating and issued a $102.00 target price on shares of Ingersoll Rand in a research note on Tuesday, March 26th. Finally, Barclays dropped their target price 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. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $97.00.

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.