New York State Common Retirement Fund Reduces Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

New York State Common Retirement Fund trimmed its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 5.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 538,855 shares of the industrial products company’s stock after selling 32,126 shares during the period. New York State Common Retirement Fund’s holdings in Ingersoll Rand were worth $41,675,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Massmutual Trust Co. FSB ADV grew its stake 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 buying an additional 173 shares during the last quarter. Global Retirement Partners LLC lifted its position in Ingersoll Rand by 11.9% during the 3rd quarter. Global Retirement Partners LLC now owns 1,800 shares of the industrial products company’s stock worth $114,000 after acquiring an additional 191 shares during the period. Pinnacle Associates Ltd. lifted its position in Ingersoll Rand by 4.7% during the 4th quarter. Pinnacle Associates Ltd. now owns 4,333 shares of the industrial products company’s stock worth $335,000 after acquiring an additional 193 shares during the period. Catalyst Financial Partners LLC lifted its position in Ingersoll Rand by 3.3% during the 3rd quarter. Catalyst Financial Partners LLC now owns 6,021 shares of the industrial products company’s stock worth $384,000 after acquiring an additional 194 shares during the period. Finally, Parsons Capital Management Inc. RI lifted its position in 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 worth $495,000 after acquiring an additional 200 shares during the period. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Ingersoll Rand Price Performance

NYSE:IR opened at $92.50 on Thursday. Ingersoll Rand Inc. has a 12 month low of $53.24 and a 12 month high of $96.17. The stock has a 50 day moving average of $91.54 and a two-hundred day moving average of $79.36. The company has a current ratio of 2.22, a quick ratio of 1.67 and a debt-to-equity ratio of 0.27. The firm has a market cap of $37.32 billion, a P/E ratio of 48.68, a price-to-earnings-growth ratio of 3.16 and a beta of 1.44.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings results on Thursday, February 15th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.76 billion. Ingersoll Rand had a return on equity of 12.24% and a net margin of 11.32%. On average, analysts expect that Ingersoll Rand Inc. will post 3.1 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 7th were issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date was Wednesday, March 6th. Ingersoll Rand’s dividend payout ratio is presently 4.21%.

Insider Activity at Ingersoll Rand

In related news, insider Andrew R. Schiesl sold 10,421 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $89.95, for a total value of $937,368.95. Following the transaction, the insider now directly owns 48,904 shares in the company, valued at $4,398,914.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Ingersoll Rand news, insider Vicente Reynal sold 240,000 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $90.16, for a total transaction of $21,638,400.00. Following the transaction, the insider now directly owns 91,957 shares in the company, valued at $8,290,843.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Andrew R. Schiesl sold 10,421 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $89.95, for a total value of $937,368.95. Following the transaction, the insider now owns 48,904 shares in the company, valued at $4,398,914.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 293,011 shares of company stock worth $26,374,789. Insiders own 0.83% of the company’s stock.

Wall Street Analysts Forecast Growth

IR has been the subject of a number of research reports. Evercore ISI cut Ingersoll Rand from an “outperform” rating to an “in-line” rating and lifted their price target for the stock from $81.00 to $89.00 in a research report on Tuesday, February 20th. BNP Paribas assumed coverage on Ingersoll Rand in a report on Tuesday, March 12th. They issued a “neutral” rating and a $92.00 price objective for the company. Stifel Nicolaus reissued a “buy” rating and issued a $102.00 price objective on shares of Ingersoll Rand in a report on Tuesday, March 26th. Cfra boosted their price objective on Ingersoll Rand from $68.00 to $85.00 and gave the company a “hold” rating in a report on Friday, February 16th. Finally, Wells Fargo & Company boosted their price objective on Ingersoll Rand from $83.00 to $100.00 and gave the company an “overweight” rating in a report on Tuesday, February 20th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.73.

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.