Forsta AP Fonden Sells 2,600 Shares of Ingersoll Rand Inc. (NYSE:IR)

Forsta AP Fonden reduced its stake in Ingersoll Rand Inc. (NYSE:IR) by 3.0% during the first quarter, Holdings Channel.com reports. The fund owned 84,300 shares of the industrial products company’s stock after selling 2,600 shares during the period. Forsta AP Fonden’s holdings in Ingersoll Rand were worth $6,747,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Compass Wealth Management LLC boosted its stake in shares of Ingersoll Rand by 62.8% in the 1st quarter. Compass Wealth Management LLC now owns 355 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 137 shares during the last quarter. Global Wealth Strategies & Associates boosted its position in Ingersoll Rand by 325.0% during the first quarter. Global Wealth Strategies & Associates now owns 374 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 286 shares during the last quarter. Golden State Wealth Management LLC grew its holdings in Ingersoll Rand by 190.9% during the 1st quarter. Golden State Wealth Management LLC now owns 477 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 313 shares during the period. Farmers & Merchants Investments Inc. raised its position in shares of Ingersoll Rand by 54.4% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 488 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 172 shares in the last quarter. Finally, Larson Financial Group LLC lifted its stake in shares of Ingersoll Rand by 136.4% in the 1st quarter. Larson Financial Group LLC now owns 494 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 285 shares during the period. 95.27% of the stock is currently owned by institutional investors.

Insider Transactions at Ingersoll Rand

In other Ingersoll Rand news, insider Elizabeth Meloy Hepding sold 3,500 shares of the business’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $83.78, for a total value of $293,230.00. Following the transaction, the insider owned 10,986 shares of the company’s stock, valued at approximately $920,407.08. The trade was a 24.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Vicente Reynal sold 38,657 shares of the company’s 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 transaction, the insider owned 193,186 shares of the company’s stock, valued at $16,040,233.58. This trade represents a 16.67% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company’s stock.

Ingersoll Rand Stock Performance

Shares of Ingersoll Rand stock opened at $75.88 on Monday. Ingersoll Rand Inc. has a 52 week low of $65.61 and a 52 week high of $106.03. The company has a quick ratio of 1.63, a current ratio of 2.29 and a debt-to-equity ratio of 0.47. The business has a 50 day moving average price of $83.72 and a 200-day moving average price of $82.20. The company has a market cap of $30.16 billion, a PE ratio of 59.28, a price-to-earnings-growth ratio of 4.31 and a beta of 1.41.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings results on Thursday, July 31st. The industrial products company reported $0.80 EPS for the quarter, meeting analysts’ consensus estimates of $0.80. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.85 billion. Ingersoll Rand had a return on equity of 12.12% and a net margin of 7.10%. Ingersoll Rand’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.83 EPS. Equities analysts anticipate that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand declared that its board has authorized a stock buyback plan on Thursday, May 1st that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the industrial products company to reacquire up to 3.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Ingersoll Rand Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th will be given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend is Thursday, August 14th. Ingersoll Rand’s dividend payout ratio is presently 6.25%.

Analyst Ratings Changes

IR has been the subject of several recent analyst reports. Citigroup reaffirmed a “buy” rating and set a $104.00 target price (up previously from $91.00) on shares of Ingersoll Rand in a research note on Monday, July 14th. Melius downgraded shares of Ingersoll Rand from a “buy” rating to a “hold” rating and set a $93.00 price objective for the company. in a research report on Monday, July 14th. Melius Research set a $93.00 target price on shares of Ingersoll Rand in a research report on Monday, July 14th. Stifel Nicolaus reduced their price target on shares of Ingersoll Rand from $95.00 to $78.00 and set a “hold” rating for the company in a report on Monday, August 4th. Finally, Robert W. Baird lifted their price target on shares of Ingersoll Rand from $97.00 to $103.00 and gave the company an “outperform” rating in a research note on Monday, August 4th. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $98.75.

About Ingersoll Rand

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.