Kestra Private Wealth Services LLC Cuts Position in Ingersoll Rand Inc. (NYSE:IR)

Kestra Private Wealth Services LLC reduced its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 10.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,526 shares of the industrial products company’s stock after selling 532 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Ingersoll Rand were worth $350,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. ANTIPODES PARTNERS Ltd purchased a new position in Ingersoll Rand in the fourth quarter valued at about $27,000. OFI Invest Asset Management acquired a new position in Ingersoll Rand during the 3rd quarter worth approximately $25,000. Quintet Private Bank Europe S.A. purchased a new position in Ingersoll Rand in the 3rd quarter worth approximately $28,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Ingersoll Rand in the third quarter valued at approximately $32,000. Finally, Clearstead Advisors LLC raised its stake in shares of Ingersoll Rand by 348.2% during the third quarter. Clearstead Advisors LLC now owns 493 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 383 shares during the period. Institutional investors and hedge funds own 95.27% of the company’s stock.

Insider Activity

In related news, insider Vicente Reynal sold 240,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $90.16, for a total value of $21,638,400.00. Following the sale, the insider now owns 91,957 shares of the company’s stock, valued at approximately $8,290,843.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Ingersoll Rand news, insider Vicente Reynal sold 240,000 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 91,957 shares of the company’s stock, valued at approximately $8,290,843.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Michael J. Scheske sold 7,590 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $88.00, for a total transaction of $667,920.00. Following the completion of the sale, the chief accounting officer now owns 9,715 shares in the company, valued at approximately $854,920. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 293,011 shares of company stock valued at $26,374,789. 0.83% of the stock is currently owned by insiders.

Ingersoll Rand Stock Performance

IR stock opened at $89.85 on Wednesday. The stock’s 50 day simple moving average is $91.90 and its 200 day simple moving average is $81.21. Ingersoll Rand Inc. has a 12-month low of $56.49 and a 12-month high of $96.17. The firm has a market cap of $36.26 billion, a P/E ratio of 44.70, a P/E/G ratio of 3.02 and a beta of 1.40. 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 (NYSE:IR) last issued its earnings results on Thursday, February 15th. The industrial products company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. Ingersoll Rand had a net margin of 11.85% and a return on equity of 12.57%. The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.76 billion. As a group, equities research analysts predict that Ingersoll Rand Inc. will post 3.1 EPS for the current year.

Ingersoll Rand declared that its Board of Directors has approved a share repurchase plan on Thursday, April 25th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the industrial products company to purchase up to 2.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Ingersoll Rand Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on IR shares. Evercore ISI lowered shares of Ingersoll Rand from an “outperform” rating to an “in-line” rating and raised their price target for the company from $81.00 to $89.00 in a report on Tuesday, February 20th. BNP Paribas started coverage on Ingersoll Rand in a research report on Tuesday, March 12th. They set a “neutral” rating and a $92.00 target price on the stock. Citigroup boosted their price target on Ingersoll Rand from $105.00 to $112.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Wells Fargo & Company lowered their price objective on Ingersoll Rand from $105.00 to $98.00 and set an “overweight” rating for the company in a research note on Monday. Finally, The Goldman Sachs Group upped their target price on Ingersoll Rand from $87.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Four investment 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 currently has an average rating of “Moderate Buy” and a consensus target price of $95.82.

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.