Securian Asset Management Inc. Sells 405 Shares of Ingersoll Rand Inc. (NYSE:IR)

Securian Asset Management Inc. lowered its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 1.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,254 shares of the industrial products company’s stock after selling 405 shares during the period. Securian Asset Management Inc.’s holdings in Ingersoll Rand were worth $1,701,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Marks Group Wealth Management Inc boosted its stake in Ingersoll Rand by 10.2% during the first quarter. Marks Group Wealth Management Inc now owns 98,135 shares of the industrial products company’s stock worth $7,854,000 after acquiring an additional 9,067 shares in the last quarter. CWM LLC raised its holdings in Ingersoll Rand by 1.5% in the first quarter. CWM LLC now owns 10,655 shares of the industrial products company’s stock worth $853,000 after buying an additional 161 shares during the last quarter. TruNorth Capital Management LLC raised its holdings in Ingersoll Rand by 6,302.4% in the first quarter. TruNorth Capital Management LLC now owns 2,689 shares of the industrial products company’s stock worth $215,000 after buying an additional 2,647 shares during the last quarter. Ballentine Partners LLC raised its holdings in Ingersoll Rand by 35.0% in the first quarter. Ballentine Partners LLC now owns 17,783 shares of the industrial products company’s stock worth $1,423,000 after buying an additional 4,609 shares during the last quarter. Finally, tru Independence LLC raised its holdings in Ingersoll Rand by 39.2% in the first quarter. tru Independence LLC now owns 4,474 shares of the industrial products company’s stock worth $358,000 after buying an additional 1,261 shares during the last quarter. Institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Stock Down 1.5%

Shares of Ingersoll Rand stock opened at $86.36 on Wednesday. The company has a market cap of $34.84 billion, a price-to-earnings ratio of 42.75, a price-to-earnings-growth ratio of 3.70 and a beta of 1.43. The company’s 50 day moving average is $83.25 and its 200 day moving average is $83.22. Ingersoll Rand Inc. has a twelve month low of $65.61 and a twelve month high of $106.03. The company has a quick ratio of 1.76, a current ratio of 2.38 and a debt-to-equity ratio of 0.45.

Ingersoll Rand (NYSE:IR) last announced its earnings results on Thursday, May 1st. The industrial products company reported $0.72 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.02). Ingersoll Rand had a net margin of 11.30% and a return on equity of 12.33%. The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the prior year, the company posted $0.78 earnings per share. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. Research analysts anticipate that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Thursday, May 15th were given a $0.02 dividend. The ex-dividend date was Thursday, May 15th. This represents a $0.08 annualized dividend and a yield of 0.09%. Ingersoll Rand’s payout ratio is presently 3.96%.

Ingersoll Rand announced that its Board of Directors has initiated a share buyback program on Thursday, May 1st that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the industrial products company to repurchase up to 3.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several brokerages have issued reports on IR. Citigroup reaffirmed a “buy” rating and issued a $104.00 target price (up from $91.00) on shares of Ingersoll Rand in a report on Monday. Stifel Nicolaus decreased their target price on shares of Ingersoll Rand from $94.00 to $77.00 and set a “hold” rating for the company in a report on Monday, April 14th. Barclays lifted their target price on shares of Ingersoll Rand from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, July 9th. Wells Fargo & Company lifted their target price on shares of Ingersoll Rand from $86.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, July 1st. Finally, Melius downgraded shares of Ingersoll Rand from a “buy” rating to a “hold” rating and set a $93.00 price objective on the stock. in a research report on Monday. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Ingersoll Rand currently has a consensus rating of “Moderate Buy” and an average target price of $99.42.

Insider Activity at Ingersoll Rand

In other news, insider Vicente Reynal sold 38,657 shares of the stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $83.03, for a total value of $3,209,690.71. Following the completion of the sale, the insider directly owned 193,186 shares of the company’s stock, valued at $16,040,233.58. This represents a 16.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Elizabeth Meloy Hepding sold 3,500 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $83.78, for a total transaction of $293,230.00. Following the completion of the sale, the insider directly owned 10,986 shares of the company’s stock, valued at approximately $920,407.08. This trade represents a 24.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by company insiders.

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.