Sumitomo Mitsui Trust Holdings Inc. Reduces Holdings in Ingersoll Rand Inc. (NYSE:IR)

Sumitomo Mitsui Trust Holdings Inc. decreased its position in Ingersoll Rand Inc. (NYSE:IR) by 9.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 960,709 shares of the industrial products company’s stock after selling 102,404 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.24% of Ingersoll Rand worth $87,271,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Ingersoll Rand by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 45,384,257 shares of the industrial products company’s stock valued at $3,510,018,000 after buying an additional 176,734 shares during the period. Capital International Investors lifted its position in shares of Ingersoll Rand by 113.7% in the 1st quarter. Capital International Investors now owns 26,166,256 shares of the industrial products company’s stock worth $2,484,486,000 after purchasing an additional 13,919,775 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Ingersoll Rand by 28.4% in the 1st quarter. JPMorgan Chase & Co. now owns 15,977,246 shares of the industrial products company’s stock worth $1,517,040,000 after purchasing an additional 3,535,543 shares during the period. Capital Research Global Investors lifted its position in shares of Ingersoll Rand by 15.3% in the 1st quarter. Capital Research Global Investors now owns 11,316,241 shares of the industrial products company’s stock worth $1,074,477,000 after purchasing an additional 1,504,414 shares during the period. Finally, Putnam Investments LLC boosted its position in shares of Ingersoll Rand by 8.0% during the fourth quarter. Putnam Investments LLC now owns 9,443,792 shares of the industrial products company’s stock valued at $730,383,000 after purchasing an additional 696,610 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors.

Insider Transactions at Ingersoll Rand

In other Ingersoll Rand news, insider Andrew R. Schiesl sold 15,381 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $89.74, for a total value of $1,380,290.94. Following the completion of the sale, the insider now owns 39,486 shares in the company, valued at approximately $3,543,473.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Ingersoll Rand news, insider Andrew R. Schiesl sold 15,381 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $89.74, for a total transaction of $1,380,290.94. Following the completion of the sale, the insider now directly 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 SEC, which is available at this link. Also, insider Vicente Reynal sold 50,000 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $92.51, for a total transaction of $4,625,500.00. Following the completion of the transaction, the insider now directly owns 100,367 shares in the company, valued at approximately $9,284,951.17. The disclosure for this sale can be found here. Insiders sold a total of 263,867 shares of company stock valued at $23,494,392 over the last three months. Corporate insiders own 0.68% of the company’s stock.

Ingersoll Rand Price Performance

Shares of Ingersoll Rand stock opened at $91.01 on Monday. The stock’s fifty day moving average is $93.31 and its 200 day moving average is $91.76. Ingersoll Rand Inc. has a one year low of $59.20 and a one year high of $101.30. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.71 and a current ratio of 2.18. The stock has a market cap of $36.72 billion, a P/E ratio of 45.28, a P/E/G ratio of 2.68 and a beta of 1.45.

Ingersoll Rand Announces Dividend

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

Ingersoll Rand declared that its board has approved a share repurchase plan on Thursday, April 25th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the industrial products company to purchase up to 2.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on IR. Wells Fargo & Company reduced their target price on shares of Ingersoll Rand from $102.00 to $100.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Stifel Nicolaus boosted their target price on Ingersoll Rand from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. StockNews.com lowered Ingersoll Rand from a “buy” rating to a “hold” rating in a research report on Saturday, May 4th. Barclays cut their price objective on shares of Ingersoll Rand from $106.00 to $101.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Finally, Jefferies Financial Group initiated coverage on shares of Ingersoll Rand in a research note on Friday, June 21st. They issued a “buy” rating and a $110.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $100.36.

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.