Ingersoll Rand Inc. (NYSE:IR) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lessened its position in Ingersoll Rand Inc. (NYSE:IR) by 11.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 28,754 shares of the industrial products company’s stock after selling 3,768 shares during the period. Commonwealth Equity Services LLC’s holdings in Ingersoll Rand were worth $2,730,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of IR. LPL Financial LLC raised its position in shares of Ingersoll Rand by 10.8% during the third quarter. LPL Financial LLC now owns 121,643 shares of the industrial products company’s stock worth $7,751,000 after purchasing an additional 11,813 shares during the period. O Shaughnessy Asset Management LLC raised its position in Ingersoll Rand by 12.6% during the third quarter. O Shaughnessy Asset Management LLC now owns 8,936 shares of the industrial products company’s stock valued at $569,000 after buying an additional 1,002 shares during the period. Alps Advisors Inc. purchased a new position in Ingersoll Rand in the third quarter valued at about $313,000. JPMorgan Chase & Co. boosted its stake in shares of Ingersoll Rand by 1.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,547,716 shares of the industrial products company’s stock worth $735,821,000 after acquiring an additional 213,441 shares in the last quarter. Finally, Royal London Asset Management Ltd. boosted its stake in shares of Ingersoll Rand by 9.5% during the 3rd quarter. Royal London Asset Management Ltd. now owns 254,135 shares of the industrial products company’s stock worth $16,192,000 after acquiring an additional 22,034 shares in the last quarter. 95.27% of the stock is owned by institutional investors and hedge funds.

Ingersoll Rand Trading Down 0.5 %

IR traded down $0.46 during trading on Friday, reaching $90.59. 318,022 shares of the stock traded hands, compared to its average volume of 2,652,792. The stock’s 50-day moving average is $91.97 and its 200 day moving average is $87.96. Ingersoll Rand Inc. has a 12 month low of $59.20 and a 12 month high of $96.67. The stock has a market capitalization of $36.55 billion, a PE ratio of 45.30, a P/E/G ratio of 2.66 and a beta of 1.45. The company has a quick ratio of 1.71, a current ratio of 2.32 and a debt-to-equity ratio of 0.27.

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 analysts’ consensus estimates of $0.67 by $0.09. The company had revenue of $1.67 billion for 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%. Equities analysts anticipate that Ingersoll Rand Inc. will post 3.19 earnings per share for the current year.

Ingersoll Rand declared that its Board of Directors has authorized a share buyback plan on Thursday, April 25th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to buy up to 2.7% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

Ingersoll Rand Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Thursday, May 16th were given 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 was Wednesday, May 15th. Ingersoll Rand’s dividend payout ratio is currently 3.98%.

Insider Buying and Selling

In other news, insider Vicente Reynal sold 198,486 shares of the firm’s stock in a transaction on 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 sale, the insider now owns 100,367 shares in the company, valued at approximately $8,843,336.37. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Vicente Reynal sold 198,486 shares of the company’s 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Andrew R. Schiesl sold 22,369 shares of the business’s 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 transaction, the insider now owns 30,846 shares in the company, valued at approximately $2,843,075.82. The disclosure for this sale can be found here. 0.68% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Wells Fargo & Company cut their price target on Ingersoll Rand from $105.00 to $98.00 and set an “overweight” rating for the company in a report on Monday, May 6th. Jefferies Financial Group began coverage on Ingersoll Rand in a research report on Friday, June 21st. They issued a “buy” rating and a $110.00 price target on the stock. Barclays reduced their price target on Ingersoll Rand from $105.00 to $104.00 and set an “overweight” rating on the stock in a research report on Monday, May 6th. StockNews.com lowered Ingersoll Rand from a “buy” rating to a “hold” rating in a research report on Saturday, May 4th. Finally, Citigroup raised their price target on Ingersoll Rand from $105.00 to $112.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.00.

Ingersoll Rand Company 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.