Los Angeles Capital Management LLC Sells 201 Shares of Ingersoll Rand Inc. (NYSE:IR)

Los Angeles Capital Management LLC lowered its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 3.6% in the 1st quarter, Holdings Channel.com reports. The fund owned 5,324 shares of the industrial products company’s stock after selling 201 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Ingersoll Rand were worth $506,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in IR. Norges Bank bought a new stake in shares of Ingersoll Rand during the fourth quarter valued at approximately $301,890,000. Capital International Investors raised its holdings in shares of Ingersoll Rand by 35.4% during the fourth quarter. Capital International Investors now owns 12,246,481 shares of the industrial products company’s stock valued at $947,143,000 after purchasing an additional 3,202,973 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of Ingersoll Rand by 46.6% during the fourth quarter. Capital Research Global Investors now owns 9,811,827 shares of the industrial products company’s stock valued at $758,847,000 after purchasing an additional 3,119,793 shares during the last quarter. UBS Group AG raised its holdings in shares of Ingersoll Rand by 105.3% during the fourth quarter. UBS Group AG now owns 2,077,028 shares of the industrial products company’s stock valued at $160,637,000 after purchasing an additional 1,065,413 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its holdings in shares of Ingersoll Rand by 101.0% during the third 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 purchasing an additional 854,314 shares during the last quarter. Institutional investors own 95.27% of the company’s stock.

Insider Activity

In other news, insider Andrew R. Schiesl sold 22,369 shares of the business’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $92.17, for a total transaction 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, 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 value 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Andrew R. Schiesl sold 22,369 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 30,846 shares of the company’s stock, valued at $2,843,075.82. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.

Wall Street Analyst Weigh In

IR has been the subject of several research reports. Stifel Nicolaus reissued a “buy” rating and set a $102.00 price objective on shares of Ingersoll Rand in a report on Tuesday, March 26th. Barclays reduced their price objective on shares of Ingersoll Rand from $105.00 to $104.00 and set an “overweight” rating on the stock in a research report on Monday, May 6th. Citigroup boosted their price target on shares of Ingersoll Rand from $105.00 to $112.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Wells Fargo & Company reduced their price target on shares of Ingersoll Rand from $105.00 to $98.00 and set an “overweight” rating on the stock in a research report on Monday, May 6th. Finally, BNP Paribas started coverage on shares of Ingersoll Rand in a research report on Tuesday, March 12th. They issued a “neutral” rating and a $92.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Ingersoll Rand has a consensus rating of “Moderate Buy” and an average target price of $97.00.

Ingersoll Rand Trading Down 3.2 %

IR stock opened at $89.91 on Wednesday. The company has a quick ratio of 1.71, a current ratio of 2.32 and a debt-to-equity ratio of 0.27. Ingersoll Rand Inc. has a twelve month low of $59.20 and a twelve month high of $96.67. The stock has a market capitalization of $36.27 billion, a price-to-earnings ratio of 44.73, a price-to-earnings-growth ratio of 3.00 and a beta of 1.43. The firm’s fifty day simple moving average is $91.90 and its two-hundred day simple moving average is $87.35.

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, beating analysts’ consensus estimates of $0.67 by $0.09. The firm had revenue of $1.67 billion during 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 anticipate that Ingersoll Rand Inc. will post 3.18 earnings per share for the current year.

Ingersoll Rand announced that its board has authorized a share buyback program on Thursday, April 25th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the industrial products company to repurchase up to 2.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Ingersoll Rand Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Thursday, May 16th were paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date of this dividend was Wednesday, May 15th. Ingersoll Rand’s dividend payout ratio is currently 3.98%.

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.