Mitsubishi UFJ Trust & Banking Corp Has $19.37 Million Position in Ingersoll Rand Inc. (NYSE:IR)

Mitsubishi UFJ Trust & Banking Corp cut its position in Ingersoll Rand Inc. (NYSE:IR) by 5.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 204,057 shares of the industrial products company’s stock after selling 12,572 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.05% of Ingersoll Rand worth $19,373,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in IR. Headlands Technologies LLC acquired a new position in Ingersoll Rand during the 1st quarter worth approximately $28,000. Riverview Trust Co acquired a new position in Ingersoll Rand during the 1st quarter worth approximately $29,000. ANTIPODES PARTNERS Ltd acquired a new position in Ingersoll Rand during the 4th quarter worth approximately $27,000. Kapitalo Investimentos Ltda acquired a new position in Ingersoll Rand during the 4th quarter worth approximately $28,000. Finally, Scarborough Advisors LLC acquired a new position in Ingersoll Rand during the 4th quarter worth approximately $32,000. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on IR. Wells Fargo & Company upped their price objective on shares of Ingersoll Rand from $98.00 to $102.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. StockNews.com cut shares of Ingersoll Rand from a “buy” rating to a “hold” rating in a research report on Saturday, May 4th. Stifel Nicolaus upped their price target on shares of Ingersoll Rand from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday. Robert W. Baird upped their price target on shares of Ingersoll Rand from $107.00 to $109.00 and gave the company an “outperform” rating in a research report on Monday, May 6th. Finally, Citigroup upped their price target 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. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Ingersoll Rand has a consensus rating of “Moderate Buy” and a consensus price target of $98.17.

Ingersoll Rand Stock Down 1.1 %

NYSE IR traded down $1.05 on Friday, hitting $96.86. 1,548,985 shares of the company were exchanged, compared to its average volume of 2,094,360. The company has a market cap of $39.08 billion, a PE ratio of 48.19, a PEG ratio of 2.82 and a beta of 1.45. Ingersoll Rand Inc. has a 12 month low of $59.20 and a 12 month high of $100.65. The stock has a fifty day moving average of $92.97 and a 200-day moving average of $89.52. 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 (NYSE:IR) last issued its earnings results on Thursday, May 2nd. The industrial products company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.09. The business had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.70 billion. Ingersoll Rand had a net margin of 11.85% and a return on equity of 12.57%. As a group, analysts forecast that Ingersoll Rand Inc. will post 3.19 earnings per share for the current year.

Ingersoll Rand Dividend Announcement

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

Ingersoll Rand announced that its Board of Directors has approved a stock buyback plan on Thursday, April 25th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the industrial products company to buy up to 2.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other Ingersoll Rand news, insider Vicente Reynal sold 198,486 shares of the company’s stock in a transaction on 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 transaction, the insider now owns 100,367 shares in the company, valued at $8,843,336.37. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Ingersoll Rand news, insider Vicente Reynal sold 198,486 shares of the company’s stock in a transaction on 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 transaction, the insider now owns 100,367 shares in the company, valued at $8,843,336.37. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Andrew R. Schiesl sold 22,369 shares of the company’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $92.17, for a total transaction of $2,061,750.73. Following the transaction, the insider now owns 30,846 shares in the company, valued at approximately $2,843,075.82. The disclosure for this sale can be found here. 0.68% of the stock is owned by 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.