Ingersoll Rand Inc. (NYSE:IR) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lowered its holdings in Ingersoll Rand Inc. (NYSE:IR) by 11.6% in the first quarter, Holdings Channel.com reports. The fund owned 28,754 shares of the industrial products company’s stock after selling 3,768 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Ingersoll Rand were worth $2,730,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in IR. Greenleaf Trust grew its holdings in Ingersoll Rand by 2.0% in the 1st quarter. Greenleaf Trust now owns 5,921 shares of the industrial products company’s stock valued at $562,000 after buying an additional 118 shares during the period. Spire Wealth Management grew its holdings in shares of Ingersoll Rand by 8.5% during the 1st quarter. Spire Wealth Management now owns 1,603 shares of the industrial products company’s stock worth $152,000 after purchasing an additional 126 shares during the period. Stablepoint Partners LLC lifted its position in Ingersoll Rand by 2.4% during the 1st quarter. Stablepoint Partners LLC now owns 7,323 shares of the industrial products company’s stock worth $695,000 after acquiring an additional 169 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its position in Ingersoll Rand by 17.9% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,137 shares of the industrial products company’s stock worth $88,000 after acquiring an additional 173 shares in the last quarter. Finally, Pinnacle Associates Ltd. raised its position in shares of Ingersoll Rand by 4.7% in 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 in the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Robert W. Baird boosted their target price on shares of Ingersoll Rand from $107.00 to $109.00 and gave the company an “outperform” rating in a research note on Monday, May 6th. Wells Fargo & Company reduced their price target on shares of Ingersoll Rand from $105.00 to $98.00 and set an “overweight” rating for the company in a report on Monday, May 6th. StockNews.com downgraded shares of Ingersoll Rand from a “buy” rating to a “hold” rating in a report on Saturday, May 4th. Barclays reduced their price objective on shares of Ingersoll Rand from $105.00 to $104.00 and set an “overweight” rating for the company in a report on Monday, May 6th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $102.00 price target on shares of Ingersoll Rand in a report on Tuesday, March 26th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $97.00.

Insider Activity

In other Ingersoll Rand news, insider Andrew R. Schiesl sold 22,369 shares of the firm’s stock in a transaction dated 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 in the company, valued at $2,843,075.82. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, insider Andrew R. Schiesl sold 22,369 shares of Ingersoll Rand stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $92.17, for a total value of $2,061,750.73. Following the sale, the insider now owns 30,846 shares of the company’s stock, valued at approximately $2,843,075.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 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 Stock Performance

Ingersoll Rand stock traded down $0.46 during trading hours on Friday, reaching $90.59. 318,022 shares of the company were exchanged, compared to its average volume of 2,652,792. The firm has a market cap of $36.55 billion, a price-to-earnings ratio of 45.30, a PEG ratio of 2.66 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. The stock has a 50-day moving average of $91.97 and a 200 day moving average of $87.96. Ingersoll Rand Inc. has a 12 month low of $59.20 and a 12 month high of $96.67.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings data 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 company had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Ingersoll Rand had a return on equity of 12.57% and a net margin of 11.85%. As a group, research analysts anticipate that Ingersoll Rand Inc. will post 3.19 earnings per share 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 paid 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 0.09%. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.98%.

Ingersoll Rand announced that its board has initiated a stock buyback plan on Thursday, April 25th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the industrial products company to purchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is 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.