Scarborough Advisors LLC Invests $32,000 in Ingersoll Rand Inc. (NYSE:IR)

Scarborough Advisors LLC bought a new position in shares of Ingersoll Rand Inc. (NYSE:IR) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 415 shares of the industrial products company’s stock, valued at approximately $32,000.

Several other large investors also recently modified their holdings of IR. ANTIPODES PARTNERS Ltd acquired a new stake in Ingersoll Rand in the fourth quarter valued at about $27,000. Wetzel Investment Advisors Inc. acquired a new stake in Ingersoll Rand in the fourth quarter valued at about $42,000. CVA Family Office LLC acquired a new stake in Ingersoll Rand in the fourth quarter valued at about $71,000. Massmutual Trust Co. FSB ADV boosted its stake in Ingersoll Rand by 17.9% in 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 buying an additional 173 shares in the last quarter. Finally, Headinvest LLC acquired a new stake in Ingersoll Rand in the third quarter valued at about $95,000. 95.27% of the stock is owned by institutional investors and hedge funds.

Ingersoll Rand Price Performance

Shares of IR opened at $94.57 on Wednesday. Ingersoll Rand Inc. has a 1 year low of $59.20 and a 1 year high of $96.67. 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 company has a market capitalization of $38.15 billion, a price-to-earnings ratio of 47.05, a price-to-earnings-growth ratio of 2.96 and a beta of 1.43. The business has a 50-day moving average of $91.84 and a 200-day moving average of $86.63.

Ingersoll Rand (NYSE:IR) last issued its earnings results on Thursday, May 2nd. The industrial products company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates 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%. As a group, equities research analysts anticipate that Ingersoll Rand Inc. will post 3.18 earnings per share for the current year.

Ingersoll Rand announced that its Board of Directors has approved a share buyback plan on Thursday, April 25th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the industrial products company to buy up to 2.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Ingersoll Rand Announces Dividend

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

Insiders Place Their Bets

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 value of $2,061,750.73. Following the completion of the sale, the insider now directly owns 30,846 shares in the company, valued at $2,843,075.82. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Ingersoll Rand news, insider Andrew R. Schiesl sold 22,369 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 30,846 shares of the company’s stock, valued at $2,843,075.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Vicente Reynal sold 198,486 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were 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 directly owns 100,367 shares of the company’s stock, valued at approximately $8,843,336.37. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

IR has been the topic of several research analyst reports. Robert W. Baird raised their price objective on Ingersoll Rand from $107.00 to $109.00 and gave the company an “outperform” rating in a research note on Monday, May 6th. The Goldman Sachs Group increased their target price on Ingersoll Rand from $87.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Citigroup increased their target price on Ingersoll Rand from $105.00 to $112.00 and gave the company a “buy” rating in a research report on Monday, April 8th. StockNews.com downgraded Ingersoll Rand from a “buy” rating to a “hold” rating in a research report on Saturday, May 4th. Finally, BNP Paribas started coverage on Ingersoll Rand in a research report on Tuesday, March 12th. They issued a “neutral” rating and a $92.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.82.

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.