Ingersoll Rand Inc. (NYSE:IR) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems cut its stake in Ingersoll Rand Inc. (NYSE:IRFree Report) by 5.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,388 shares of the industrial products company’s stock after selling 2,006 shares during the quarter. Kentucky Retirement Systems’ holdings in Ingersoll Rand were worth $2,505,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Illinois Municipal Retirement Fund raised its stake in Ingersoll Rand by 297.5% in the 4th quarter. Illinois Municipal Retirement Fund now owns 75,353 shares of the industrial products company’s stock valued at $5,828,000 after purchasing an additional 56,394 shares during the last quarter. Asset Management One Co. Ltd. raised its stake in Ingersoll Rand by 3.8% in the 4th quarter. Asset Management One Co. Ltd. now owns 163,162 shares of the industrial products company’s stock valued at $12,691,000 after purchasing an additional 6,042 shares during the last quarter. Consilium Wealth Advisory LLC raised its stake in Ingersoll Rand by 17.5% in the 4th quarter. Consilium Wealth Advisory LLC now owns 14,864 shares of the industrial products company’s stock valued at $1,150,000 after purchasing an additional 2,210 shares during the last quarter. Natixis Advisors L.P. raised its stake in Ingersoll Rand by 8.6% in the 3rd quarter. Natixis Advisors L.P. now owns 136,629 shares of the industrial products company’s stock valued at $8,706,000 after purchasing an additional 10,840 shares during the last quarter. Finally, Hsbc Holdings PLC raised its stake in Ingersoll Rand by 2.3% in the 3rd quarter. Hsbc Holdings PLC now owns 568,633 shares of the industrial products company’s stock valued at $36,222,000 after purchasing an additional 13,036 shares during the last quarter. 95.27% of the stock is owned by institutional investors and hedge funds.

Ingersoll Rand Stock Performance

NYSE IR opened at $92.65 on Monday. The stock has a market cap of $37.38 billion, a PE ratio of 46.09, a P/E/G ratio of 3.03 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 Inc. has a twelve month low of $56.49 and a twelve month high of $96.17. The stock has a fifty day simple moving average of $92.03 and a 200-day simple moving average of $82.98.

Ingersoll Rand (NYSE:IRGet Free Report) last announced its earnings results on Thursday, February 15th. The industrial products company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. Ingersoll Rand had a return on equity of 12.57% and a net margin of 11.85%. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Equities analysts anticipate that Ingersoll Rand Inc. will post 3.14 earnings per share for the current year.

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 issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date is Wednesday, May 15th. Ingersoll Rand’s dividend payout ratio (DPR) is 3.98%.

Ingersoll Rand announced that its board has initiated a share repurchase plan on Thursday, April 25th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to buy up to 2.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several brokerages have issued reports on IR. Stifel Nicolaus restated a “buy” rating and issued a $102.00 target price on shares of Ingersoll Rand in a report on Tuesday, March 26th. Evercore ISI cut Ingersoll Rand from an “outperform” rating to an “in-line” rating and upped their target price for the company from $81.00 to $89.00 in a report on Tuesday, February 20th. Robert W. Baird upped their target price on Ingersoll Rand from $107.00 to $109.00 and gave the company an “outperform” rating in a report on Monday, May 6th. BNP Paribas began coverage on Ingersoll Rand in a report on Tuesday, March 12th. They issued a “neutral” rating and a $92.00 target price for the company. Finally, Citigroup upped their target price on Ingersoll Rand from $105.00 to $112.00 and gave the company a “buy” rating in a report on Monday, April 8th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $95.82.

Check Out Our Latest Stock Analysis on IR

Insider Activity at Ingersoll Rand

In related news, CAO Michael J. Scheske sold 7,590 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $88.00, for a total transaction of $667,920.00. Following the completion of the transaction, the chief accounting officer now directly owns 9,715 shares in the company, valued at approximately $854,920. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Ingersoll Rand news, insider Vicente Reynal sold 240,000 shares of the stock in a transaction dated 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Michael J. Scheske sold 7,590 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $88.00, for a total value of $667,920.00. Following the completion of the sale, the chief accounting officer now directly owns 9,715 shares in the company, valued at approximately $854,920. The disclosure for this sale can be found here. Insiders sold 293,011 shares of company stock worth $26,374,789 in the last three months. 0.68% of the stock is owned by company insiders.

About Ingersoll Rand

(Free Report)

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.

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Institutional Ownership by Quarter for Ingersoll Rand (NYSE:IR)

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