Vestmark Advisory Solutions Inc. Invests $262,000 in Ingersoll Rand Inc. (NYSE:IR)

Vestmark Advisory Solutions Inc. bought a new stake in Ingersoll Rand Inc. (NYSE:IR) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 3,595 shares of the industrial products company’s stock, valued at approximately $262,000.

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

Ingersoll Rand Price Performance

IR stock opened at $89.85 on Wednesday. The stock has a market capitalization of $36.26 billion, a price-to-earnings ratio of 44.70, a PEG ratio of 3.02 and a beta of 1.40. The firm’s 50-day moving average price is $91.90 and its two-hundred day moving average price is $81.21. The company has a current ratio of 2.32, a quick ratio of 1.71 and a debt-to-equity ratio of 0.27. Ingersoll Rand Inc. has a 12-month low of $56.49 and a 12-month high of $96.17.

Ingersoll Rand (NYSE:IR) last announced 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 company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.76 billion. Ingersoll Rand had a return on equity of 12.57% and a net margin of 11.85%. As a group, equities analysts predict that Ingersoll Rand Inc. will post 3.1 earnings per share for the current year.

Ingersoll Rand Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 16th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is 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 is presently 3.98%.

Ingersoll Rand announced that its board has authorized a share buyback program on Thursday, April 25th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to repurchase up to 2.7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on IR. Barclays reduced their price target on Ingersoll Rand from $105.00 to $104.00 and set an “overweight” rating for the company in a research report on Monday. Citigroup increased their price target on shares of Ingersoll Rand from $105.00 to $112.00 and gave the stock a “buy” rating in a report on Monday, April 8th. StockNews.com lowered shares of Ingersoll Rand from a “buy” rating to a “hold” rating in a report on Saturday. Evercore ISI cut Ingersoll Rand from an “outperform” rating to an “in-line” rating and raised their price target for the company from $81.00 to $89.00 in a report on Tuesday, February 20th. Finally, BNP Paribas initiated coverage on shares of Ingersoll Rand in a research note on Tuesday, March 12th. They issued a “neutral” rating and a $92.00 price target for the company. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $95.82.

Insider Buying and Selling

In other Ingersoll Rand news, insider Andrew R. Schiesl sold 10,421 shares of the business’s 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 transaction, the insider now directly owns 48,904 shares of the company’s stock, valued at approximately $4,398,914.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Vicente Reynal sold 240,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $90.16, for a total value of $21,638,400.00. Following the completion of the transaction, the insider now owns 91,957 shares in the company, valued at approximately $8,290,843.12. The transaction was disclosed in a document filed with the SEC, which is available at 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 completion of the sale, the insider now directly owns 48,904 shares in the company, valued at $4,398,914.80. The disclosure for this sale can be found here. Insiders sold 293,011 shares of company stock valued at $26,374,789 over the last quarter. 0.83% of the stock is owned by company insiders.

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.