Intech Investment Management LLC Sells 57,949 Shares of Ingersoll Rand Inc. (NYSE:IR)

Intech Investment Management LLC lowered its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 48.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,323 shares of the industrial products company’s stock after selling 57,949 shares during the period. Intech Investment Management LLC’s holdings in Ingersoll Rand were worth $5,823,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Norges Bank bought a new position in Ingersoll Rand in the fourth quarter worth about $301,890,000. JPMorgan Chase & Co. raised its position in Ingersoll Rand by 28.4% in the first quarter. JPMorgan Chase & Co. now owns 15,977,246 shares of the industrial products company’s stock worth $1,517,040,000 after acquiring an additional 3,535,543 shares in the last quarter. Capital International Investors boosted its stake in shares of Ingersoll Rand by 35.4% during the fourth quarter. Capital International Investors now owns 12,246,481 shares of the industrial products company’s stock valued at $947,143,000 after acquiring an additional 3,202,973 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of Ingersoll Rand by 46.6% in the 4th quarter. Capital Research Global Investors now owns 9,811,827 shares of the industrial products company’s stock worth $758,847,000 after purchasing an additional 3,119,793 shares during the period. Finally, UBS Group AG grew its stake in Ingersoll Rand by 105.3% during the 4th quarter. UBS Group AG now owns 2,077,028 shares of the industrial products company’s stock valued at $160,637,000 after purchasing an additional 1,065,413 shares in the last quarter. Institutional investors own 95.27% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on IR. Robert W. Baird lifted their price target on Ingersoll Rand from $107.00 to $109.00 and gave the company an “outperform” rating in a report on Monday, May 6th. Stifel Nicolaus lifted their target price on Ingersoll Rand from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday. StockNews.com cut Ingersoll Rand from a “buy” rating to a “hold” rating in a research note on Saturday, May 4th. Citigroup increased their price objective on shares of Ingersoll Rand from $105.00 to $112.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Finally, Wells Fargo & Company lifted their price objective on shares of Ingersoll Rand from $98.00 to $102.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $98.17.

Insider Activity

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

Ingersoll Rand Stock Performance

NYSE IR traded down $1.05 on Friday, hitting $96.86. 1,548,985 shares of the company’s stock traded hands, compared to its average volume of 2,094,360. The firm’s 50-day moving average price is $92.97 and its two-hundred day moving average price is $89.52. The firm has a market capitalization of $39.08 billion, a PE ratio of 48.19, a P/E/G ratio of 2.82 and a beta of 1.45. 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 1-year low of $59.20 and a 1-year high of $100.65.

Ingersoll Rand (NYSE:IR) last announced its earnings results on Thursday, May 2nd. The industrial products company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.09. The business had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Ingersoll Rand had a net margin of 11.85% and a return on equity of 12.57%. As a group, analysts expect that Ingersoll Rand Inc. will post 3.19 EPS for the current year.

Ingersoll Rand Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Thursday, May 16th were issued a $0.02 dividend. The ex-dividend date was Wednesday, May 15th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.08%. Ingersoll Rand’s payout ratio is 3.98%.

Ingersoll Rand announced that its Board of Directors has approved a stock repurchase program 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 purchase up to 2.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

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.