Czech National Bank Raises Position in Ingersoll Rand Inc. (NYSE:IR)

Czech National Bank grew its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 0.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 71,250 shares of the industrial products company’s stock after purchasing an additional 353 shares during the period. Czech National Bank’s holdings in Ingersoll Rand were worth $6,765,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Ingersoll Rand in the 4th quarter valued at $301,890,000. Capital International Investors increased its position in shares of Ingersoll Rand by 35.4% in the 4th 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 period. Capital Research Global Investors grew its position in Ingersoll Rand by 46.6% during 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. UBS Group AG grew its position 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 worth $160,637,000 after purchasing an additional 1,065,413 shares during the period. Finally, Adage Capital Partners GP L.L.C. grew its position in Ingersoll Rand by 101.0% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,700,061 shares of the industrial products company’s stock worth $108,328,000 after purchasing an additional 854,314 shares during the period. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Insider Activity at Ingersoll Rand

In related news, insider Vicente Reynal sold 198,486 shares of Ingersoll Rand stock in a transaction that occurred 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 completion of 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Ingersoll Rand news, insider Vicente Reynal sold 198,486 shares of the business’s 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 completion of the transaction, the insider now owns 100,367 shares in the company, valued at $8,843,336.37. The transaction 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 on Friday, May 17th. The stock was 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 of the company’s stock, 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.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on IR shares. The Goldman Sachs Group increased their price target on Ingersoll Rand from $87.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Wells Fargo & Company dropped their target price on Ingersoll Rand from $105.00 to $98.00 and set an “overweight” rating on the stock in a research report on Monday, May 6th. BNP Paribas initiated 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. Barclays dropped their target price 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. Finally, Citigroup raised their target price on Ingersoll Rand from $105.00 to $112.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ingersoll Rand presently has a consensus rating of “Moderate Buy” and an average target price of $95.82.

Ingersoll Rand Price Performance

IR traded down $1.40 during trading on Thursday, reaching $93.18. The company’s stock had a trading volume of 2,798,780 shares, compared to its average volume of 2,702,004. The firm has a fifty day simple moving average of $91.87 and a two-hundred day simple moving average of $86.73. The company has a market cap of $37.59 billion, a price-to-earnings ratio of 46.36, a PEG ratio of 3.06 and a beta of 1.43. 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 Inc. has a 1 year low of $59.20 and a 1 year high of $96.67.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.09. The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate 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 anticipate that Ingersoll Rand Inc. will post 3.18 EPS for the current year.

Ingersoll Rand announced that its Board of Directors has authorized a share repurchase plan on Thursday, April 25th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the industrial products company to purchase up to 2.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Ingersoll Rand Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Thursday, May 16th were issued a $0.02 dividend. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $0.08 annualized dividend and a yield of 0.09%. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.98%.

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.