Ingersoll Rand Inc. (NYSE:IR) Shares Sold by Leeward Financial Partners LLC

Leeward Financial Partners LLC reduced its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 6.6% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 20,288 shares of the industrial products company’s stock after selling 1,436 shares during the period. Leeward Financial Partners LLC’s holdings in Ingersoll Rand were worth $1,926,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IR. Norges Bank acquired a new stake in shares of Ingersoll Rand during the 4th quarter valued at about $301,890,000. Capital International Investors grew its position in shares of Ingersoll Rand by 35.4% during the 4th quarter. Capital International Investors now owns 12,246,481 shares of the industrial products company’s stock valued at $947,143,000 after acquiring an additional 3,202,973 shares during the period. Capital Research Global Investors grew its position in shares of Ingersoll Rand by 46.6% during the 4th quarter. Capital Research Global Investors now owns 9,811,827 shares of the industrial products company’s stock valued at $758,847,000 after acquiring an additional 3,119,793 shares during the period. UBS Group AG grew its position in shares of Ingersoll Rand by 105.3% during the 4th quarter. UBS Group AG now owns 2,077,028 shares of the industrial products company’s stock valued at $160,637,000 after acquiring an additional 1,065,413 shares during the period. Finally, Adage Capital Partners GP L.L.C. grew its position in shares of Ingersoll Rand by 101.0% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,700,061 shares of the industrial products company’s stock valued at $108,328,000 after acquiring an additional 854,314 shares during the period. 95.27% of the stock is owned by institutional investors and hedge funds.

Ingersoll Rand Stock Up 0.4 %

Shares of NYSE:IR traded up $0.35 during trading on Wednesday, hitting $91.01. The company’s stock had a trading volume of 651,726 shares, compared to its average volume of 2,671,177. The business has a 50 day moving average price of $92.02 and a two-hundred day moving average price of $87.91. The company has a market capitalization of $36.72 billion, a PE ratio of 45.55, a P/E/G ratio of 2.65 and a beta of 1.45. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.71 and a current ratio of 2.32. Ingersoll Rand Inc. has a fifty-two week low of $59.20 and a fifty-two week high of $96.67.

Ingersoll Rand (NYSE:IR) last issued its earnings results on Thursday, May 2nd. The industrial products company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.09. The firm had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.70 billion. Ingersoll Rand had a net margin of 11.85% and a return on equity of 12.57%. As a group, research analysts expect that Ingersoll Rand Inc. will post 3.19 EPS for the current fiscal year.

Ingersoll Rand declared that its Board of Directors has authorized a stock repurchase program on Thursday, April 25th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to repurchase up to 2.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Ingersoll Rand Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Thursday, May 16th were given a $0.02 dividend. The ex-dividend date was Wednesday, May 15th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.98%.

Insider Activity at Ingersoll Rand

In other news, insider Andrew R. Schiesl sold 22,369 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $92.17, for a total value of $2,061,750.73. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Andrew R. Schiesl sold 22,369 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $92.17, for a total value of $2,061,750.73. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is available through this link. Also, insider Vicente Reynal sold 198,486 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $88.11, for a total transaction of $17,488,601.46. Following the completion of the sale, the insider now directly owns 100,367 shares of the company’s stock, valued at $8,843,336.37. The disclosure for this sale can be found here. 0.68% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on IR shares. Stifel Nicolaus reiterated a “buy” rating and issued a $102.00 price objective on shares of Ingersoll Rand in a report on Tuesday, March 26th. StockNews.com cut Ingersoll Rand from a “buy” rating to a “hold” rating in a report on Saturday, May 4th. Robert W. Baird raised their target price on shares of Ingersoll Rand from $107.00 to $109.00 and gave the stock an “outperform” rating in a research note on Monday, May 6th. BNP Paribas started coverage on shares of Ingersoll Rand in a research note on Tuesday, March 12th. They issued a “neutral” rating and a $92.00 target price on the stock. Finally, Barclays decreased their target price on shares of Ingersoll Rand from $105.00 to $104.00 and set an “overweight” rating on the stock in a research note on Monday, May 6th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Ingersoll Rand currently has an average rating of “Moderate Buy” and a consensus target price of $97.00.

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.