2,647 Shares in Ingersoll Rand Inc. (NYSE:IR) Purchased by Argyle Capital Management Inc.

Argyle Capital Management Inc. bought a new stake in shares of Ingersoll Rand Inc. (NYSE:IR) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,647 shares of the industrial products company’s stock, valued at approximately $205,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. FMR LLC increased its stake in shares of Ingersoll Rand by 3.4% during the third quarter. FMR LLC now owns 19,190,038 shares of the industrial products company’s stock valued at $1,222,789,000 after purchasing an additional 627,146 shares in the last quarter. JPMorgan Chase & Co. increased 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 in the last quarter. Northern Trust Corp increased its stake in shares of Ingersoll Rand by 2.4% during the third quarter. Northern Trust Corp now owns 4,005,504 shares of the industrial products company’s stock valued at $255,231,000 after purchasing an additional 95,559 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Ingersoll Rand by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,059,347 shares of the industrial products company’s stock valued at $131,222,000 after purchasing an additional 28,030 shares in the last quarter. Finally, Royal Bank of Canada increased its stake in shares of Ingersoll Rand by 0.4% during the third quarter. Royal Bank of Canada now owns 2,020,934 shares of the industrial products company’s stock valued at $128,773,000 after purchasing an additional 7,524 shares in the last quarter. Institutional investors own 95.27% of the company’s stock.

Insider Activity at Ingersoll Rand

In related news, insider Vicente Reynal sold 240,000 shares of Ingersoll Rand stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $90.16, for a total transaction of $21,638,400.00. Following the transaction, the insider now owns 91,957 shares in the company, valued at approximately $8,290,843.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Ingersoll Rand news, insider Andrew R. Schiesl sold 35,000 shares of Ingersoll Rand stock in a transaction on 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 approximately $1,478,326.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Vicente Reynal sold 240,000 shares of Ingersoll Rand stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $90.16, for a total transaction of $21,638,400.00. Following the completion of the sale, the insider now owns 91,957 shares in the company, valued at $8,290,843.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 293,011 shares of company stock worth $26,374,789. 0.83% of the stock is owned by corporate insiders.

Ingersoll Rand Trading Up 1.6 %

Shares of Ingersoll Rand stock opened at $93.50 on Monday. The company’s fifty day simple moving average is $91.70 and its 200-day simple moving average is $79.86. The stock has a market capitalization of $37.72 billion, a PE ratio of 49.21, a P/E/G ratio of 3.26 and a beta of 1.44. Ingersoll Rand Inc. has a 1-year low of $54.54 and a 1-year high of $96.17. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.22 and a quick ratio of 1.67.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings results on Thursday, February 15th. The industrial products company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.09. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Ingersoll Rand had a net margin of 11.32% and a return on equity of 12.24%. As a group, equities analysts anticipate that Ingersoll Rand Inc. will post 3.1 earnings per share for the current year.

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

Ingersoll Rand Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 16th will be 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 is Wednesday, May 15th. Ingersoll Rand’s dividend payout ratio (DPR) is 4.21%.

Analysts Set New Price Targets

Several brokerages recently weighed in on IR. The Goldman Sachs Group raised their price target on shares of Ingersoll Rand from $87.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. StockNews.com downgraded shares of Ingersoll Rand from a “buy” rating to a “hold” rating in a research report on Thursday. Cfra raised their price target on shares of Ingersoll Rand from $68.00 to $85.00 and gave the company a “hold” rating in a research report on Friday, February 16th. Wells Fargo & Company raised their price target on shares of Ingersoll Rand from $83.00 to $100.00 and gave the company an “overweight” rating in a research report on Tuesday, February 20th. Finally, Barclays raised their price target on shares of Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Ingersoll Rand presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.73.

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.