Andrew R. Schiesl Sells 15,381 Shares of Ingersoll Rand Inc. (NYSE:IR) Stock

Ingersoll Rand Inc. (NYSE:IR) insider Andrew R. Schiesl sold 15,381 shares of Ingersoll Rand stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $89.74, for a total transaction of $1,380,290.94. Following the completion of the transaction, the insider now owns 39,486 shares of the company’s stock, valued at approximately $3,543,473.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Ingersoll Rand Stock Performance

Shares of IR opened at $91.04 on Thursday. The company’s 50 day simple moving average is $93.20 and its 200-day simple moving average is $91.52. Ingersoll Rand Inc. has a 12-month low of $59.20 and a 12-month high of $101.30. The firm has a market cap of $36.73 billion, a PE ratio of 45.29, a price-to-earnings-growth ratio of 2.68 and a beta of 1.45. The company has a current ratio of 2.18, a quick ratio of 1.71 and a debt-to-equity ratio of 0.47.

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

Ingersoll Rand Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th will be paid a $0.02 dividend. The ex-dividend date is Thursday, August 15th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. Ingersoll Rand’s dividend payout ratio is presently 3.98%.

Analyst Upgrades and Downgrades

IR has been the topic of a number of analyst reports. Wells Fargo & Company reduced their price objective on shares of Ingersoll Rand from $102.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Jefferies Financial Group started coverage on Ingersoll Rand in a research report on Friday, June 21st. They set a “buy” rating and a $110.00 price objective for the company. Cfra reissued a “hold” rating and set a $85.00 target price on shares of Ingersoll Rand in a research report on Friday, August 2nd. Stifel Nicolaus upped their price target on Ingersoll Rand from $100.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Finally, StockNews.com cut shares of Ingersoll Rand from a “buy” rating to a “hold” rating in a report on Saturday, May 4th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Ingersoll Rand has a consensus rating of “Moderate Buy” and an average target price of $100.36.

Hedge Funds Weigh In On Ingersoll Rand

A number of hedge funds and other institutional investors have recently made changes to their positions in IR. Greenleaf Trust grew its stake in shares of Ingersoll Rand by 2.0% in the 1st quarter. Greenleaf Trust now owns 5,921 shares of the industrial products company’s stock valued at $562,000 after purchasing an additional 118 shares during the last quarter. Wealthspire Advisors LLC increased its stake in Ingersoll Rand by 5.5% in the 2nd quarter. Wealthspire Advisors LLC now owns 2,268 shares of the industrial products company’s stock valued at $206,000 after buying an additional 119 shares during the period. Spire Wealth Management raised its position in Ingersoll Rand by 8.5% during the 1st quarter. Spire Wealth Management now owns 1,603 shares of the industrial products company’s stock worth $152,000 after buying an additional 126 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Ingersoll Rand by 38.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 126 shares during the period. Finally, Resonant Capital Advisors LLC boosted its holdings in shares of Ingersoll Rand by 4.2% in the second quarter. Resonant Capital Advisors LLC now owns 3,300 shares of the industrial products company’s stock valued at $300,000 after acquiring an additional 133 shares in the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

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.