Czech National Bank Boosts Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

Czech National Bank boosted its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 0.5% during the first quarter, HoldingsChannel.com reports. The firm owned 71,250 shares of the industrial products company’s stock after acquiring an additional 353 shares during the period. Czech National Bank’s holdings in Ingersoll Rand were worth $6,765,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of IR. Fulton Bank N.A. increased its position in shares of Ingersoll Rand by 20.0% in the first quarter. Fulton Bank N.A. now owns 4,733 shares of the industrial products company’s stock worth $449,000 after acquiring an additional 789 shares in the last quarter. Perpetual Ltd acquired a new stake in shares of Ingersoll Rand in the first quarter worth $201,000. Foster Group Inc. acquired a new stake in shares of Ingersoll Rand in the first quarter worth $249,000. Mather Group LLC. acquired a new stake in shares of Ingersoll Rand in the first quarter worth $148,000. Finally, GAMMA Investing LLC increased its position 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 acquiring an additional 457 shares in the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Stock Down 1.5 %

IR stock traded down $1.40 during mid-day trading on Thursday, hitting $93.18. 2,798,780 shares of the company were exchanged, compared to its average volume of 2,702,004. The company has a market capitalization of $37.59 billion, a PE ratio of 46.36, a price-to-earnings-growth ratio of 3.06 and a beta of 1.43. The company has a current ratio of 2.32, a quick ratio of 1.71 and a debt-to-equity ratio of 0.27. Ingersoll Rand Inc. has a twelve month low of $59.20 and a twelve month high of $96.67. The firm has a fifty day simple moving average of $91.87 and a 200 day simple moving average of $86.73.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings data 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. The company had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.70 billion. Ingersoll Rand had a net margin of 11.85% and a return on equity of 12.57%. On average, research analysts forecast that Ingersoll Rand Inc. will post 3.18 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The business also recently disclosed 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. This represents a $0.08 annualized dividend and a yield of 0.09%. The ex-dividend date 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 plan on Thursday, April 25th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the industrial products company to purchase up to 2.7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on IR. Stifel Nicolaus reissued a “buy” rating and issued a $102.00 price objective on shares of Ingersoll Rand in a research report on Tuesday, March 26th. Wells Fargo & Company lowered their price target on shares of Ingersoll Rand from $105.00 to $98.00 and set an “overweight” rating for the company in a report on Monday, May 6th. Barclays lowered their price target on shares of Ingersoll Rand from $105.00 to $104.00 and set an “overweight” rating for the company in a report on Monday, May 6th. Robert W. Baird raised their price target on shares of Ingersoll Rand from $107.00 to $109.00 and gave the company an “outperform” rating in a report on Monday, May 6th. Finally, 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 report on Wednesday, February 21st. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Ingersoll Rand presently has an average rating of “Moderate Buy” and an average price target of $95.82.

Insider Transactions at Ingersoll Rand

In other news, insider Vicente Reynal sold 198,486 shares of Ingersoll Rand stock in a transaction dated 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 transaction, the insider now directly owns 100,367 shares of the company’s stock, valued at approximately $8,843,336.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other 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 value of $2,061,750.73. Following the completion of the transaction, the insider now directly owns 30,846 shares of the company’s stock, valued at approximately $2,843,075.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Vicente Reynal sold 198,486 shares of Ingersoll Rand stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $88.11, for a total transaction of $17,488,601.46. Following the completion of the transaction, the insider now directly owns 100,367 shares of the company’s stock, valued at $8,843,336.37. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.

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.