Clifford Swan Investment Counsel LLC Sells 548 Shares of Ingersoll Rand Inc. (NYSE:IR)

Clifford Swan Investment Counsel LLC lowered its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 4.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,328 shares of the industrial products company’s stock after selling 548 shares during the quarter. Clifford Swan Investment Counsel LLC’s holdings in Ingersoll Rand were worth $876,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Commonwealth Equity Services LLC grew its holdings in Ingersoll Rand by 1.6% in the 3rd quarter. Commonwealth Equity Services LLC now owns 28,522 shares of the industrial products company’s stock worth $1,817,000 after acquiring an additional 448 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in Ingersoll Rand by 21.5% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 42,290 shares of the industrial products company’s stock worth $2,695,000 after buying an additional 7,497 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Ingersoll Rand by 9.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 179,976 shares of the industrial products company’s stock worth $11,468,000 after acquiring an additional 16,237 shares during the period. IFM Investors Pty Ltd boosted its position in shares of Ingersoll Rand by 0.7% during the third quarter. IFM Investors Pty Ltd now owns 82,387 shares of the industrial products company’s stock valued at $5,250,000 after purchasing an additional 550 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Ingersoll Rand by 19.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 82,809 shares of the industrial products company’s stock worth $5,277,000 after acquiring an additional 13,481 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors.

Ingersoll Rand Stock Performance

Shares of Ingersoll Rand stock traded up $1.76 during trading hours on Monday, reaching $88.48. 4,549,407 shares of the stock traded hands, compared to its average volume of 2,578,305. Ingersoll Rand Inc. has a one year low of $56.49 and a one year high of $96.17. The firm has a market capitalization of $35.70 billion, a price-to-earnings ratio of 44.32, a P/E/G ratio of 3.02 and a beta of 1.40. 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 price of $91.96 and a 200 day moving average price of $80.81.

Ingersoll Rand (NYSE:IR) last announced its earnings results on Thursday, February 15th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.09. Ingersoll Rand had a net margin of 11.85% and a return on equity of 12.57%. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.76 billion. On average, equities research analysts expect that Ingersoll Rand Inc. will post 3.1 earnings per share for the current fiscal year.

Ingersoll Rand declared that its Board of Directors has approved a stock repurchase plan 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 stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Ingersoll Rand Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 16th will be given a dividend of $0.02 per share. The ex-dividend date is Wednesday, May 15th. This represents a $0.08 annualized dividend and a yield of 0.09%. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.98%.

Insider Buying and Selling at Ingersoll Rand

In related news, insider Vicente Reynal sold 240,000 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $90.16, for a total value of $21,638,400.00. Following the completion of the sale, the insider now directly owns 91,957 shares of the company’s stock, valued at approximately $8,290,843.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Michael J. Scheske sold 7,590 shares of Ingersoll Rand stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $88.00, for a total value of $667,920.00. Following the completion of the transaction, the chief accounting officer now owns 9,715 shares in the company, valued at $854,920. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Vicente Reynal sold 240,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 91,957 shares in the company, valued at approximately $8,290,843.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 293,011 shares of company stock valued at $26,374,789. Company insiders own 0.83% of the company’s stock.

Analyst Upgrades and Downgrades

IR has been the topic of a number of recent research reports. BNP Paribas started coverage on Ingersoll Rand in a research note on Tuesday, March 12th. They issued a “neutral” rating and a $92.00 target price on the stock. Barclays decreased their target price on shares of Ingersoll Rand from $105.00 to $104.00 and set an “overweight” rating for the company in a report on Monday. Wells Fargo & Company cut their price target on shares of Ingersoll Rand from $105.00 to $98.00 and set an “overweight” rating on the stock in a report on Monday. 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. Finally, Citigroup lifted their target price on Ingersoll Rand from $105.00 to $112.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $95.82.

About Ingersoll Rand

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.