Intech Investment Management LLC Sells 42,604 Shares of Ingersoll Rand Inc. (NYSE:IR)

Intech Investment Management LLC trimmed its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 26.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 119,272 shares of the industrial products company’s stock after selling 42,604 shares during the period. Intech Investment Management LLC’s holdings in Ingersoll Rand were worth $9,224,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Nomura Asset Management Co. Ltd. lifted its position in Ingersoll Rand by 3.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 106,831 shares of the industrial products company’s stock valued at $8,262,000 after acquiring an additional 3,458 shares in the last quarter. Team Hewins LLC purchased a new stake in shares of Ingersoll Rand in the 4th quarter worth $239,000. Avantax Planning Partners Inc. purchased a new stake in shares of Ingersoll Rand in the 4th quarter worth $204,000. Allstate Corp purchased a new stake in shares of Ingersoll Rand in the 4th quarter worth $209,000. Finally, CreativeOne Wealth LLC increased its stake in shares of Ingersoll Rand by 21.8% in the 4th quarter. CreativeOne Wealth LLC now owns 5,888 shares of the industrial products company’s stock worth $455,000 after purchasing an additional 1,055 shares in the last quarter. 95.27% of the stock is owned by institutional investors.

Ingersoll Rand Trading Up 0.4 %

Shares of NYSE:IR traded up $0.40 during trading on Friday, reaching $95.50. 3,632,984 shares of the company were exchanged, compared to its average volume of 3,376,920. The firm has a market capitalization of $38.53 billion, a PE ratio of 47.51, a P/E/G ratio of 3.13 and a beta of 1.40. The business’s fifty day simple moving average is $92.50 and its 200-day simple moving average is $83.90. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.32 and a quick ratio of 1.71. Ingersoll Rand Inc. has a 12-month low of $56.49 and a 12-month high of $96.67.

Ingersoll Rand (NYSE:IR) last posted its earnings results on Thursday, May 2nd. The industrial products company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.09. The company had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.70 billion. Ingersoll Rand had a return on equity of 12.57% and a net margin of 11.85%. On average, research analysts anticipate that Ingersoll Rand Inc. will post 3.14 EPS for the current year.

Ingersoll Rand announced that its board has initiated a stock repurchase program 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 purchase up to 2.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Ingersoll Rand Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders 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 yield of 0.08%. Ingersoll Rand’s dividend payout ratio is currently 3.98%.

Insiders Place Their Bets

In other Ingersoll Rand news, insider Andrew R. Schiesl sold 22,369 shares of the company’s stock in a transaction on 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 completion of the sale, the insider now owns 30,846 shares in the company, valued at $2,843,075.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Andrew R. Schiesl sold 22,369 shares of the company’s stock in a transaction on 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 directly owns 30,846 shares of the company’s stock, valued at $2,843,075.82. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Andrew R. Schiesl sold 35,000 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $89.46, for a total value of $3,131,100.00. Following the transaction, the insider now directly owns 16,525 shares in the company, valued at $1,478,326.50. The disclosure for this sale can be found here. Insiders sold a total of 297,369 shares of company stock worth $26,831,251 over the last 90 days. Company insiders own 0.68% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on IR shares. Robert W. Baird upped their price objective on Ingersoll Rand from $107.00 to $109.00 and gave the stock an “outperform” rating in a research note 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. UBS Group increased their price objective on shares of Ingersoll Rand from $78.00 to $93.00 and gave the stock a “buy” rating in a research report on Monday, January 29th. Wells Fargo & Company reduced their price objective on shares of Ingersoll Rand from $105.00 to $98.00 and set an “overweight” rating on the stock in a research report on Monday, May 6th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $102.00 price objective on shares of Ingersoll Rand in a research report on Tuesday, March 26th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Ingersoll Rand has an average rating of “Moderate Buy” and a consensus target price of $95.82.

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.