Griffin Asset Management Inc. Invests $282,000 in Ingersoll Rand Inc. (NYSE:IR)

Griffin Asset Management Inc. purchased a new stake in shares of Ingersoll Rand Inc. (NYSE:IR) in the first quarter, Holdings Channel.com reports. The fund purchased 2,970 shares of the industrial products company’s stock, valued at approximately $282,000.

Several other institutional investors have also recently bought and sold shares of IR. Vanguard Group Inc. lifted its position in Ingersoll Rand by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 45,384,257 shares of the industrial products company’s stock worth $3,510,018,000 after buying an additional 176,734 shares in the last quarter. Capital International Investors lifted its position in shares of Ingersoll Rand by 35.4% during the fourth quarter. Capital International Investors now owns 12,246,481 shares of the industrial products company’s stock worth $947,143,000 after purchasing an additional 3,202,973 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Ingersoll Rand by 1.9% during the third quarter. JPMorgan Chase & Co. now owns 11,547,716 shares of the industrial products company’s stock valued at $735,821,000 after purchasing an additional 213,441 shares during the last quarter. Capital Research Global Investors increased its holdings in shares of Ingersoll Rand by 46.6% in the fourth quarter. Capital Research Global Investors now owns 9,811,827 shares of the industrial products company’s stock valued at $758,847,000 after purchasing an additional 3,119,793 shares in the last quarter. Finally, Putnam Investments LLC raised its position in Ingersoll Rand by 8.0% in the 4th quarter. Putnam Investments LLC now owns 9,443,792 shares of the industrial products company’s stock worth $730,383,000 after purchasing an additional 696,610 shares during the last quarter. Institutional investors own 95.27% of the company’s stock.

Insider Buying and Selling at Ingersoll Rand

In other news, insider Andrew R. Schiesl sold 22,369 shares of the firm’s 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 sale, the insider now owns 30,846 shares of the company’s stock, valued at $2,843,075.82. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Andrew R. Schiesl sold 22,369 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $92.17, for a total value of $2,061,750.73. Following the completion of the transaction, the insider now owns 30,846 shares in the company, valued at $2,843,075.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $17,488,601.46. Following the sale, 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.

Analyst Ratings Changes

Several research firms have recently commented on IR. Stifel Nicolaus reissued a “buy” rating and issued a $102.00 target price on shares of Ingersoll Rand in a research note on Tuesday, March 26th. StockNews.com lowered Ingersoll Rand from a “buy” rating to a “hold” rating in a research report on Saturday, May 4th. Citigroup boosted their price objective on Ingersoll Rand from $105.00 to $112.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Wells Fargo & Company reduced their target price on shares of Ingersoll Rand from $105.00 to $98.00 and set an “overweight” rating on the stock in a research note on Monday, May 6th. Finally, BNP Paribas began coverage on shares of Ingersoll Rand in a research note on Tuesday, March 12th. They set a “neutral” rating and a $92.00 price target for the company. Four equities 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 stock currently has a consensus rating of “Moderate Buy” and an average target price of $97.00.

Ingersoll Rand Stock Down 0.1 %

Ingersoll Rand stock opened at $90.84 on Friday. The firm has a market capitalization of $36.65 billion, a price-to-earnings ratio of 45.19, a PEG ratio of 2.93 and a beta of 1.43. The company’s 50 day simple moving average is $92.00 and its 200 day simple moving average is $87.60. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.32 and a quick ratio of 1.71. 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 posted its earnings results on Thursday, May 2nd. The industrial products company reported $0.76 earnings per share 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 company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.70 billion. As a group, sell-side analysts anticipate that Ingersoll Rand Inc. will post 3.19 EPS for the current year.

Ingersoll Rand declared that its board has authorized a stock repurchase program on Thursday, April 25th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the industrial products company to repurchase up to 2.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Ingersoll Rand Dividend Announcement

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 dividend of $0.02 per share. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $0.08 annualized dividend and a yield of 0.09%. Ingersoll Rand’s dividend payout ratio is presently 3.98%.

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.