Clifford Swan Investment Counsel LLC Decreases Position in Ingersoll Rand Inc. (NYSE:IR)

Clifford Swan Investment Counsel LLC reduced its stake in Ingersoll Rand Inc. (NYSE:IR) by 4.6% during the 4th quarter, Holdings Channel reports. The fund owned 11,328 shares of the industrial products company’s stock after selling 548 shares during the period. Clifford Swan Investment Counsel LLC’s holdings in Ingersoll Rand were worth $876,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. OFI Invest Asset Management acquired a new position in Ingersoll Rand in the third quarter valued at $25,000. ANTIPODES PARTNERS Ltd purchased a new position in shares of Ingersoll Rand in the 4th quarter valued at $27,000. Quintet Private Bank Europe S.A. purchased a new stake in Ingersoll Rand during the 3rd quarter worth $28,000. Clearstead Advisors LLC increased its holdings in Ingersoll Rand by 348.2% in the 3rd quarter. Clearstead Advisors LLC now owns 493 shares of the industrial products company’s stock valued at $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 in the third quarter worth about $32,000. 95.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Michael J. Scheske sold 7,590 shares of the business’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 sale, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Michael J. Scheske sold 7,590 shares of the company’s 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 transaction, the chief accounting officer now owns 9,715 shares in the company, valued at approximately $854,920. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Andrew R. Schiesl sold 10,421 shares of the firm’s stock in a transaction that occurred on 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 owns 48,904 shares of the company’s stock, valued at $4,398,914.80. The disclosure for this sale can be found here. Insiders sold a total of 293,011 shares of company stock valued at $26,374,789 over the last three months. Insiders own 0.83% of the company’s stock.

Ingersoll Rand Stock Up 2.0 %

NYSE IR traded up $1.76 on Monday, hitting $88.48. 4,549,407 shares of the stock traded hands, compared to its average volume of 2,578,305. The company has a market capitalization of $35.70 billion, a P/E ratio of 44.32, a price-to-earnings-growth ratio of 3.02 and a beta of 1.40. The stock has a 50-day moving average of $91.96 and a 200 day moving average of $80.81. 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 twelve month low of $56.49 and a twelve 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, topping the consensus estimate of $0.74 by $0.09. Ingersoll Rand had a return on equity of 12.57% and a net margin of 11.85%. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.76 billion. As a group, 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 authorized a stock repurchase program on Thursday, April 25th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the industrial products company to repurchase up to 2.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Ingersoll Rand Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Thursday, May 16th will be given a $0.02 dividend. The ex-dividend date of this dividend 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 3.98%.

Wall Street Analysts Forecast Growth

IR has been the subject of a number of analyst reports. Stifel Nicolaus restated a “buy” rating and issued a $102.00 price target on shares of Ingersoll Rand in a report on Tuesday, March 26th. Wells Fargo & Company decreased their target price on shares of Ingersoll Rand from $105.00 to $98.00 and set an “overweight” rating for the company in a research note on Monday. UBS Group lifted their price target on shares of Ingersoll Rand from $78.00 to $93.00 and gave the stock a “buy” rating in a research note on Monday, January 29th. Citigroup upped their price objective on shares of Ingersoll Rand from $105.00 to $112.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Finally, Cfra lifted their target price on Ingersoll Rand from $68.00 to $85.00 and gave the stock a “hold” rating in a research report on Friday, February 16th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $95.82.

Ingersoll Rand 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.