Swiss National Bank Sells 52,300 Shares of Ingersoll Rand Inc. (NYSE:IR)

Swiss National Bank cut its holdings in Ingersoll Rand Inc. (NYSE:IR) by 4.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,212,280 shares of the industrial products company’s stock after selling 52,300 shares during the period. Swiss National Bank’s holdings in Ingersoll Rand were worth $115,106,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in IR. Nomura Holdings Inc. boosted its stake in shares of Ingersoll Rand by 3,010.2% during the 4th quarter. Nomura Holdings Inc. now owns 211,274 shares of the industrial products company’s stock worth $16,340,000 after purchasing an additional 204,481 shares during the period. Varenne Capital Partners purchased a new position in shares of Ingersoll Rand during the 4th quarter worth about $1,693,000. Illinois Municipal Retirement Fund boosted its stake in shares of Ingersoll Rand by 297.5% during the 4th quarter. Illinois Municipal Retirement Fund now owns 75,353 shares of the industrial products company’s stock worth $5,828,000 after purchasing an additional 56,394 shares during the period. Azzad Asset Management Inc. ADV purchased a new stake in Ingersoll Rand in the 1st quarter valued at about $1,221,000. Finally, Arrow Financial Corp boosted its position in Ingersoll Rand by 59.7% in the 4th quarter. Arrow Financial Corp now owns 23,143 shares of the industrial products company’s stock valued at $1,790,000 after buying an additional 8,649 shares during the period. 95.27% of the stock is currently owned by institutional investors.

Ingersoll Rand Stock Up 1.8 %

Shares of NYSE IR traded up $1.79 during trading hours on Monday, hitting $99.07. 257,571 shares of the stock were exchanged, compared to its average volume of 2,613,451. 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 12 month low of $59.20 and a 12 month high of $99.21. The company has a market cap of $39.97 billion, a PE ratio of 48.51, a PEG ratio of 2.84 and a beta of 1.45. The firm has a fifty day moving average price of $92.16 and a 200-day moving average price of $88.86.

Ingersoll Rand (NYSE:IR) last issued its quarterly 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. Ingersoll Rand had a net margin of 11.85% and a return on equity of 12.57%. The business had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.70 billion. On average, sell-side analysts expect that Ingersoll Rand Inc. will post 3.19 EPS for the current year.

Ingersoll Rand Dividend Announcement

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

Ingersoll Rand declared that its board has initiated a stock buyback plan 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 purchase up to 2.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts have issued reports on IR shares. Citigroup boosted their price objective 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. Wells Fargo & Company boosted their price objective on shares of Ingersoll Rand from $98.00 to $102.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Stifel Nicolaus reissued a “buy” rating and issued a $102.00 price objective on shares of Ingersoll Rand in a research report on Tuesday, March 26th. StockNews.com cut shares of Ingersoll Rand from a “buy” rating to a “hold” rating in a research report on Saturday, May 4th. Finally, Robert W. Baird boosted their price target on shares of Ingersoll Rand from $107.00 to $109.00 and gave the company an “outperform” rating in a report on Monday, May 6th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $97.50.

Insider Buying and Selling at Ingersoll Rand

In other news, insider Andrew R. Schiesl sold 22,369 shares of the company’s stock in a transaction on 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 sale, the insider now directly owns 30,846 shares of the company’s stock, valued at approximately $2,843,075.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Vicente Reynal sold 198,486 shares of the 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 sale, the insider now directly owns 100,367 shares of the company’s stock, valued at $8,843,336.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Andrew R. Schiesl sold 22,369 shares of the 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 sale, the insider now directly owns 30,846 shares in the company, valued at $2,843,075.82. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by company 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.