Ingersoll Rand Inc. (NYSE:IR) Stake Reduced by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. reduced its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 1.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,069,452 shares of the industrial products company’s stock after selling 13,401 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.26% of Ingersoll Rand worth $82,711,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Horizon Investments LLC lifted its holdings in shares of Ingersoll Rand by 2.7% during the second quarter. Horizon Investments LLC now owns 5,837 shares of the industrial products company’s stock valued at $382,000 after purchasing an additional 152 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its position in Ingersoll Rand by 17.9% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,137 shares of the industrial products company’s stock valued at $88,000 after buying an additional 173 shares during the period. Global Retirement Partners LLC lifted its stake in Ingersoll Rand by 11.9% in the 3rd quarter. Global Retirement Partners LLC now owns 1,800 shares of the industrial products company’s stock worth $114,000 after acquiring an additional 191 shares in the last quarter. Pinnacle Associates Ltd. boosted its position in Ingersoll Rand by 4.7% during the 4th quarter. Pinnacle Associates Ltd. now owns 4,333 shares of the industrial products company’s stock worth $335,000 after acquiring an additional 193 shares during the period. Finally, Catalyst Financial Partners LLC grew its stake in Ingersoll Rand by 3.3% during the 3rd quarter. Catalyst Financial Partners LLC now owns 6,021 shares of the industrial products company’s stock valued at $384,000 after acquiring an additional 194 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Andrew R. Schiesl sold 10,421 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $89.95, for a total value of $937,368.95. Following the sale, the insider now directly owns 48,904 shares of the company’s stock, valued at $4,398,914.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Andrew R. Schiesl sold 10,421 shares of Ingersoll Rand stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $89.95, for a total transaction of $937,368.95. Following the sale, the insider now directly owns 48,904 shares of the company’s stock, valued at $4,398,914.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Andrew R. Schiesl sold 35,000 shares of Ingersoll Rand stock in a transaction dated Monday, March 11th. The stock was 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. Over the last ninety days, insiders have sold 293,011 shares of company stock valued at $26,374,789. 0.83% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. StockNews.com upgraded shares of Ingersoll Rand from a “hold” rating to a “buy” rating in a report on Sunday, April 7th. Citigroup upped their price target on shares of Ingersoll Rand from $105.00 to $112.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Stifel Nicolaus reissued a “buy” rating and set a $102.00 price objective on shares of Ingersoll Rand in a research report on Tuesday, March 26th. Barclays upped their target price on Ingersoll Rand from $101.00 to $105.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Finally, Evercore ISI lowered Ingersoll Rand from an “outperform” rating to an “in-line” rating and lifted their price target for the company from $81.00 to $89.00 in a report on Tuesday, February 20th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Ingersoll Rand currently has an average rating of “Moderate Buy” and a consensus target price of $92.73.

Ingersoll Rand Trading Down 1.4 %

Ingersoll Rand stock opened at $89.57 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.22 and a quick ratio of 1.67. The company has a market capitalization of $36.14 billion, a price-to-earnings ratio of 47.14, a PEG ratio of 3.18 and a beta of 1.44. Ingersoll Rand Inc. has a one year low of $53.24 and a one year high of $96.17. The company’s fifty day moving average price is $91.12 and its two-hundred day moving average price is $78.43.

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

Ingersoll Rand Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 7th were given a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. The ex-dividend date was Wednesday, March 6th. Ingersoll Rand’s dividend payout ratio is currently 4.21%.

Ingersoll Rand 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.