Douglas Lane & Associates LLC Cuts Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

Douglas Lane & Associates LLC lowered its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 3.1% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,019,322 shares of the industrial products company’s stock after selling 33,084 shares during the period. Ingersoll Rand makes up approximately 1.4% of Douglas Lane & Associates LLC’s holdings, making the stock its 19th biggest position. Douglas Lane & Associates LLC owned approximately 0.25% of Ingersoll Rand worth $96,785,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in IR. Massmutual Trust Co. FSB ADV boosted its stake in shares of Ingersoll Rand by 17.9% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,137 shares of the industrial products company’s stock worth $88,000 after buying an additional 173 shares during the last quarter. Pinnacle Associates Ltd. grew its stake in shares of Ingersoll Rand by 4.7% during the 4th quarter. Pinnacle Associates Ltd. now owns 4,333 shares of the industrial products company’s stock valued at $335,000 after purchasing an additional 193 shares during the period. Parsons Capital Management Inc. RI increased its position in shares of Ingersoll Rand by 3.2% during the 4th quarter. Parsons Capital Management Inc. RI now owns 6,399 shares of the industrial products company’s stock valued at $495,000 after purchasing an additional 200 shares during the last quarter. Parallel Advisors LLC raised its position in Ingersoll Rand by 8.6% in the fourth quarter. Parallel Advisors LLC now owns 2,552 shares of the industrial products company’s stock worth $197,000 after acquiring an additional 203 shares during the period. Finally, Fulton Bank N.A. boosted its stake in shares of Ingersoll Rand by 6.3% during the 4th quarter. Fulton Bank N.A. now owns 3,944 shares of the industrial products company’s stock worth $305,000 after acquiring an additional 235 shares during the last quarter. Institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Price Performance

Shares of IR traded down $0.29 during mid-day trading on Friday, hitting $92.89. 3,639,346 shares of the stock were exchanged, compared to its average volume of 2,710,599. The company has a market cap of $37.47 billion, a PE ratio of 46.21, a price-to-earnings-growth ratio of 3.01 and a beta of 1.43. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.71 and a current ratio of 2.32. The firm has a 50-day moving average of $91.89 and a two-hundred day moving average of $86.98. Ingersoll Rand Inc. has a 52-week low of $59.20 and a 52-week high of $96.67.

Ingersoll Rand (NYSE:IR) last released its earnings results on Thursday, May 2nd. The industrial products company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.09. The firm had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.70 billion. Ingersoll Rand had a return on equity of 12.57% and a net margin of 11.85%. On average, equities analysts predict that Ingersoll Rand Inc. will post 3.18 earnings per share for the current year.

Ingersoll Rand Dividend Announcement

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

Ingersoll Rand declared that its board has initiated a share repurchase program on Thursday, April 25th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the industrial products company to reacquire up to 2.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Robert W. Baird raised their target price on Ingersoll Rand from $107.00 to $109.00 and gave the stock an “outperform” rating in a report on Monday, May 6th. Barclays cut their price objective on Ingersoll Rand from $105.00 to $104.00 and set an “overweight” rating for the company in a research note on Monday, May 6th. Stifel Nicolaus reiterated a “buy” rating and issued a $102.00 price target on shares of Ingersoll Rand in a research report on Tuesday, March 26th. Citigroup increased their target price on 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 lowered their price target on Ingersoll Rand from $105.00 to $98.00 and set an “overweight” rating on the stock in a report on Monday, May 6th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $97.00.

Insider Buying and Selling at Ingersoll Rand

In other Ingersoll Rand news, insider Vicente Reynal sold 198,486 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $88.11, for a total value of $17,488,601.46. Following the transaction, the insider now 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 other news, insider Andrew R. Schiesl sold 22,369 shares of the 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 transaction, the insider now owns 30,846 shares of the company’s stock, valued at approximately $2,843,075.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Vicente Reynal sold 198,486 shares of the stock in a transaction on Tuesday, June 4th. The stock was 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 disclosure for this sale can be found here. 0.68% of the stock is currently owned by corporate insiders.

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.