Ledyard National Bank Makes New $212,000 Investment in Ingersoll Rand Inc. (NYSE:IR)

Ledyard National Bank acquired a new position in Ingersoll Rand Inc. (NYSE:IR) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,743 shares of the industrial products company’s stock, valued at approximately $212,000.

Other large investors have also modified their holdings of the company. OFI Invest Asset Management acquired a new position in shares of Ingersoll Rand in the third quarter worth about $25,000. ANTIPODES PARTNERS Ltd purchased a new stake in shares of Ingersoll Rand during the fourth quarter worth about $27,000. Quintet Private Bank Europe S.A. purchased a new stake in shares of Ingersoll Rand during the third quarter worth about $28,000. Clearstead Advisors LLC increased its stake in shares of Ingersoll Rand by 348.2% during the third quarter. Clearstead Advisors LLC now owns 493 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 383 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Ingersoll Rand during the third quarter worth about $32,000. Institutional investors and hedge funds own 95.27% of the company’s stock.

Ingersoll Rand Stock Performance

Shares of IR stock traded down $0.52 during trading hours on Tuesday, reaching $92.87. The stock had a trading volume of 1,066,043 shares, compared to its average volume of 2,442,137. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.22 and a quick ratio of 1.67. Ingersoll Rand Inc. has a twelve month low of $55.86 and a twelve month high of $96.17. The firm has a 50-day simple moving average of $91.78 and a 200-day simple moving average of $80.05. The firm has a market capitalization of $37.47 billion, a PE ratio of 49.14, a price-to-earnings-growth ratio of 3.26 and a beta of 1.44.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings data on Thursday, February 15th. The industrial products company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Ingersoll Rand had a net margin of 11.32% and a return on equity of 12.24%. As a group, equities analysts forecast that Ingersoll Rand Inc. will post 3.1 earnings per share for the current year.

Ingersoll Rand Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 16th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Ingersoll Rand’s dividend payout ratio is currently 4.21%.

Ingersoll Rand announced that its Board of Directors has approved 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 often an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. StockNews.com lowered shares of Ingersoll Rand from a “buy” rating to a “hold” rating in a report on Thursday, April 25th. Stifel Nicolaus restated a “buy” rating and issued a $102.00 price objective on shares of Ingersoll Rand in a report on Tuesday, March 26th. Barclays increased their target price on shares of Ingersoll Rand from $101.00 to $105.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Evercore ISI lowered shares of Ingersoll Rand from an “outperform” rating to an “in-line” rating and increased their target price for the stock from $81.00 to $89.00 in a report on Tuesday, February 20th. Finally, BNP Paribas began coverage on shares of Ingersoll Rand in a report on Tuesday, March 12th. They set a “neutral” rating and a $92.00 target price on the stock. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Ingersoll Rand currently has a consensus rating of “Moderate Buy” and an average target price of $92.73.

Insider Transactions at Ingersoll Rand

In related news, CAO Michael J. Scheske sold 7,590 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $88.00, for a total transaction of $667,920.00. Following the completion of the sale, the chief accounting officer now directly owns 9,715 shares in the company, valued at $854,920. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Ingersoll Rand news, insider Andrew R. Schiesl sold 10,421 shares of Ingersoll Rand stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $89.95, for a total transaction of $937,368.95. Following the sale, the insider now owns 48,904 shares in the company, valued at $4,398,914.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Michael J. Scheske sold 7,590 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $88.00, for a total transaction of $667,920.00. Following the completion of the sale, the chief accounting officer now owns 9,715 shares in the company, valued at approximately $854,920. The disclosure for this sale can be found here. Insiders have sold 293,011 shares of company stock valued at $26,374,789 in the last quarter. Insiders own 0.83% of the company’s stock.

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.