Swiss National Bank Cuts Stake in Ingersoll Rand Inc. (NYSE:IR)

Swiss National Bank lessened its holdings in Ingersoll Rand Inc. (NYSE:IR) by 2.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,264,580 shares of the industrial products company’s stock after selling 36,700 shares during the quarter. Swiss National Bank’s holdings in Ingersoll Rand were worth $97,803,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Adage Capital Partners GP L.L.C. increased its stake in shares of Ingersoll Rand by 101.0% during the third quarter. Adage Capital Partners GP L.L.C. now owns 1,700,061 shares of the industrial products company’s stock worth $108,328,000 after buying an additional 854,314 shares during the period. FMR LLC increased its position in shares of Ingersoll Rand by 3.4% in the 3rd quarter. FMR LLC now owns 19,190,038 shares of the industrial products company’s stock valued at $1,222,789,000 after purchasing an additional 627,146 shares during the last quarter. Barclays PLC raised its holdings in shares of Ingersoll Rand by 59.8% in the 3rd quarter. Barclays PLC now owns 876,284 shares of the industrial products company’s stock valued at $55,836,000 after purchasing an additional 327,931 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Ingersoll Rand by 7,475.8% during the 4th quarter. International Assets Investment Management LLC now owns 281,518 shares of the industrial products company’s stock worth $21,773,000 after purchasing an additional 277,802 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew its stake in shares of Ingersoll Rand by 45.4% during the third quarter. Qube Research & Technologies Ltd now owns 796,696 shares of the industrial products company’s stock worth $50,765,000 after purchasing an additional 248,634 shares in the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.

Insider Activity at Ingersoll Rand

In other news, CAO Michael J. Scheske sold 7,590 shares of Ingersoll Rand stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $88.00, for a total transaction of $667,920.00. Following the completion of the transaction, the chief accounting officer now owns 9,715 shares of the company’s stock, valued at approximately $854,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Andrew R. Schiesl sold 10,421 shares of Ingersoll Rand stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $89.95, for a total transaction of $937,368.95. Following the sale, the insider now directly owns 48,904 shares of the company’s stock, valued at $4,398,914.80. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 value of $667,920.00. Following the sale, the chief accounting officer now owns 9,715 shares of the company’s stock, valued at approximately $854,920. The disclosure for this sale can be found here. Insiders sold 293,011 shares of company stock worth $26,374,789 over the last 90 days. Company insiders own 0.83% of the company’s stock.

Ingersoll Rand Trading Down 6.6 %

NYSE IR opened at $86.72 on Friday. The firm’s fifty day moving average is $91.96 and its two-hundred day moving average is $80.58. Ingersoll Rand Inc. has a one year low of $56.49 and a one year high of $96.17. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.67 and a current ratio of 2.22. The firm has a market cap of $34.99 billion, a PE ratio of 43.14, a P/E/G ratio of 3.02 and a beta of 1.40.

Ingersoll Rand (NYSE:IR) last issued its quarterly 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. The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Ingersoll Rand had a return on equity of 12.66% and a net margin of 11.85%. Analysts expect that Ingersoll Rand Inc. will post 3.1 earnings per share for the current year.

Ingersoll Rand announced that its board has initiated a stock repurchase plan on Thursday, April 25th that authorizes the company to repurchase $1.00 billion in outstanding 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 usually a sign that the company’s board of directors believes its stock is undervalued.

Ingersoll Rand Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 16th will be issued a $0.02 dividend. The ex-dividend date 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%.

Analysts Set New Price Targets

IR has been the subject of a number of recent analyst reports. The Goldman Sachs Group lifted their price target on Ingersoll Rand from $87.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. StockNews.com cut Ingersoll Rand from a “buy” rating to a “hold” rating in a research note on Saturday. Wells Fargo & Company increased their price target on shares of Ingersoll Rand from $83.00 to $100.00 and gave the company an “overweight” rating in a research note on Tuesday, February 20th. Citigroup boosted their price objective on shares of Ingersoll Rand from $105.00 to $112.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Finally, Cfra upped their target price on shares of Ingersoll Rand from $68.00 to $85.00 and gave the company a “hold” rating in a report on Friday, February 16th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $92.73.

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.