Fulton Bank N.A. Buys 789 Shares of Ingersoll Rand Inc. (NYSE:IR)

Fulton Bank N.A. grew its holdings in Ingersoll Rand Inc. (NYSE:IRFree Report) by 20.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,733 shares of the industrial products company’s stock after purchasing an additional 789 shares during the quarter. Fulton Bank N.A.’s holdings in Ingersoll Rand were worth $449,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Perpetual Ltd purchased a new stake in Ingersoll Rand during the 1st quarter worth approximately $201,000. Foster Group Inc. acquired a new stake in Ingersoll Rand during the first quarter valued at $249,000. Mather Group LLC. acquired a new stake in shares of Ingersoll Rand in the first quarter valued at about $148,000. GAMMA Investing LLC lifted its stake in shares of Ingersoll Rand by 12.2% in the first quarter. GAMMA Investing LLC now owns 4,202 shares of the industrial products company’s stock worth $399,000 after buying an additional 457 shares in the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new position in shares of Ingersoll Rand in the fourth quarter worth about $28,000. Institutional investors own 95.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on IR shares. Stifel Nicolaus restated a “buy” rating and issued a $102.00 price objective on shares of Ingersoll Rand in a report on Tuesday, March 26th. StockNews.com lowered shares of Ingersoll Rand from a “buy” rating to a “hold” rating in a report on Saturday, May 4th. Wells Fargo & Company cut their price objective on shares of Ingersoll Rand from $105.00 to $98.00 and set an “overweight” rating on the stock in a report on Monday, May 6th. Robert W. Baird increased their price objective on shares of Ingersoll Rand from $107.00 to $109.00 and gave the company an “outperform” rating in a research report on Monday, May 6th. Finally, BNP Paribas started coverage on shares of Ingersoll Rand in a research report on Tuesday, March 12th. They issued a “neutral” rating and a $92.00 price objective for the company. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $97.00.

Check Out Our Latest Stock Analysis on Ingersoll Rand

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 sale, the insider now directly owns 30,846 shares in the company, valued at $2,843,075.82. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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 sale, the insider now directly owns 30,846 shares in the company, valued at $2,843,075.82. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Vicente Reynal sold 198,486 shares of Ingersoll Rand stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $88.11, for a total value of $17,488,601.46. Following the transaction, the insider now directly owns 100,367 shares in the company, valued at $8,843,336.37. The disclosure for this sale can be found here. Company insiders own 0.68% of the company’s stock.

Ingersoll Rand Stock Performance

Ingersoll Rand stock opened at $93.18 on Friday. The company has a market cap of $37.59 billion, a PE ratio of 46.36, a P/E/G ratio of 3.06 and a beta of 1.43. The company has a fifty day moving average price of $91.87 and a two-hundred day moving average price of $86.73. 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 12 month low of $59.20 and a 12 month high of $96.67.

Ingersoll Rand (NYSE:IRGet Free Report) last posted its earnings results on Thursday, May 2nd. The industrial products company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.09. The company had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Ingersoll Rand had a return on equity of 12.57% and a net margin of 11.85%. Research analysts expect that Ingersoll Rand Inc. will post 3.18 earnings per share for the current year.

Ingersoll Rand Announces Dividend

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

Ingersoll Rand declared that its board has initiated a share repurchase program on Thursday, April 25th that permits the company to buyback $1.00 billion in outstanding 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 an indication that the company’s leadership believes its shares are undervalued.

About Ingersoll Rand

(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.

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

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