Ingersoll Rand Inc. (NYSE:IR) Shares Sold by Bangor Savings Bank

Bangor Savings Bank lowered its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 36.6% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 500 shares of the industrial products company’s stock after selling 289 shares during the period. Bangor Savings Bank’s holdings in Ingersoll Rand were worth $47,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of IR. &PARTNERS purchased a new stake in Ingersoll Rand during the first quarter valued at about $273,000. Running Oak Capital LLC purchased a new position in shares of Ingersoll Rand during the first quarter valued at $11,809,000. Gulf International Bank UK Ltd raised its position in Ingersoll Rand by 0.8% during the first quarter. Gulf International Bank UK Ltd now owns 34,751 shares of the industrial products company’s stock valued at $3,299,000 after buying an additional 263 shares during the period. Buckingham Capital Management Inc. acquired a new stake in Ingersoll Rand during the 1st quarter worth about $661,000. Finally, Park Avenue Securities LLC boosted its holdings in shares of Ingersoll Rand by 12.2% during the first quarter. Park Avenue Securities LLC now owns 3,551 shares of the industrial products company’s stock worth $337,000 after purchasing an additional 387 shares during the period. 95.27% of the stock is owned by institutional investors and hedge funds.

Ingersoll Rand Stock Performance

Ingersoll Rand stock traded down $0.29 during trading hours on Friday, hitting $92.89. The stock had a trading volume of 3,639,346 shares, 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 quick ratio of 1.71, a current ratio of 2.32 and a debt-to-equity ratio of 0.27. The company has a 50-day moving average of $91.89 and a two-hundred day moving average of $86.98. Ingersoll Rand Inc. has a fifty-two week low of $59.20 and a fifty-two week 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 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.09. Ingersoll Rand had a net margin of 11.85% and a return on equity of 12.57%. The firm had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.70 billion. On average, equities research analysts anticipate that Ingersoll Rand Inc. will post 3.18 EPS for the current fiscal year.

Ingersoll Rand declared that its board has authorized a stock buyback 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 repurchase up to 2.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Ingersoll Rand Dividend Announcement

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

Insider Transactions at Ingersoll Rand

In other news, insider Vicente Reynal sold 198,486 shares of the business’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $88.11, for a total transaction of $17,488,601.46. Following the completion of the sale, the insider now owns 100,367 shares in the company, valued at $8,843,336.37. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Ingersoll Rand news, insider Andrew R. Schiesl sold 22,369 shares of the stock in a transaction on Friday, May 17th. The shares were sold at an average price of $92.17, for a total value of $2,061,750.73. Following the sale, the insider now directly owns 30,846 shares in the company, valued at $2,843,075.82. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Vicente Reynal sold 198,486 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $88.11, for a total transaction of $17,488,601.46. Following the sale, the insider now owns 100,367 shares in the company, valued at $8,843,336.37. The disclosure for this sale can be found here. 0.68% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on IR shares. Robert W. Baird boosted their price target on shares of Ingersoll Rand from $107.00 to $109.00 and gave the company an “outperform” rating in a report on Monday, May 6th. Citigroup boosted their target price 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. Barclays cut their price target on shares of Ingersoll Rand from $105.00 to $104.00 and set an “overweight” rating on the stock in a report on Monday, May 6th. Stifel Nicolaus reissued a “buy” rating and set a $102.00 target price on shares of Ingersoll Rand in a research report on Tuesday, March 26th. Finally, StockNews.com lowered Ingersoll Rand from a “buy” rating to a “hold” rating in a report on Saturday, May 4th. 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 $97.00.

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.