NEOS Investment Management LLC Has $782,000 Position in Ingersoll Rand Inc. (NYSE:IR)

NEOS Investment Management LLC lifted its position in shares of Ingersoll Rand Inc. (NYSE:IRFree Report) by 21.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,107 shares of the industrial products company’s stock after purchasing an additional 1,777 shares during the period. NEOS Investment Management LLC’s holdings in Ingersoll Rand were worth $782,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of IR. Keybank National Association OH lifted its holdings in Ingersoll Rand by 17.1% during the 3rd quarter. Keybank National Association OH now owns 9,323 shares of the industrial products company’s stock valued at $594,000 after purchasing an additional 1,361 shares during the last quarter. Kestra Private Wealth Services LLC lifted its stake in shares of Ingersoll Rand by 27.3% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 5,058 shares of the industrial products company’s stock worth $322,000 after buying an additional 1,084 shares during the last quarter. Amalgamated Bank boosted its holdings in shares of Ingersoll Rand by 5.6% during the 3rd quarter. Amalgamated Bank now owns 110,247 shares of the industrial products company’s stock worth $7,025,000 after buying an additional 5,873 shares during the period. PGGM Investments grew its stake in Ingersoll Rand by 78.8% in the 3rd quarter. PGGM Investments now owns 23,034 shares of the industrial products company’s stock valued at $1,468,000 after buying an additional 10,151 shares during the last quarter. Finally, Banque Cantonale Vaudoise raised its holdings in Ingersoll Rand by 66.4% in the 3rd quarter. Banque Cantonale Vaudoise now owns 10,759 shares of the industrial products company’s stock valued at $686,000 after acquiring an additional 4,295 shares during the period. 95.27% of the stock is owned by institutional investors.

Insider Activity at Ingersoll Rand

In related news, insider Andrew R. Schiesl sold 35,000 shares of Ingersoll Rand stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $89.46, for a total transaction of $3,131,100.00. Following the sale, the insider now directly owns 16,525 shares of the company’s stock, valued at approximately $1,478,326.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Ingersoll Rand news, insider Andrew R. Schiesl sold 22,369 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 30,846 shares of the company’s stock, valued at approximately $2,843,075.82. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Andrew R. Schiesl sold 35,000 shares of Ingersoll Rand stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $89.46, for a total value of $3,131,100.00. Following the sale, the insider now directly owns 16,525 shares in the company, valued at $1,478,326.50. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by insiders.

Ingersoll Rand Price Performance

IR stock traded down $2.14 during mid-day trading on Tuesday, hitting $87.90. The stock had a trading volume of 2,435,879 shares, compared to its average volume of 2,683,428. The firm has a fifty day simple moving average of $92.39 and a 200 day simple moving average of $85.02. Ingersoll Rand Inc. has a 52 week low of $59.20 and a 52 week 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 firm has a market capitalization of $35.46 billion, a P/E ratio of 44.80, a P/E/G ratio of 3.01 and a beta of 1.43.

Ingersoll Rand (NYSE:IRGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.76 EPS for the quarter, beating 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 business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.70 billion. As a group, research analysts forecast that Ingersoll Rand Inc. will post 3.18 EPS for the current year.

Ingersoll Rand announced that its board has approved a stock repurchase program on Thursday, April 25th that allows the company to buyback $1.00 billion in outstanding 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 often an indication that the company’s board of directors believes its shares are undervalued.

Ingersoll Rand Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. 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. StockNews.com lowered Ingersoll Rand from a “buy” rating to a “hold” rating in a report on Saturday, May 4th. BNP Paribas started coverage on Ingersoll Rand in a report on Tuesday, March 12th. They set a “neutral” rating and a $92.00 target price for the company. Wells Fargo & Company decreased their price target 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, Evercore ISI lowered shares of Ingersoll Rand from an “outperform” rating to an “in-line” rating and raised their price target for the stock from $81.00 to $89.00 in a research report on Tuesday, February 20th. Four research 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $95.82.

Check Out Our Latest Stock Analysis on Ingersoll Rand

Ingersoll Rand Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Ingersoll Rand (NYSE:IR)

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