Handelsbanken Fonder AB Decreases Stock Position in Ingersoll Rand Inc. (NYSE:IR)

Handelsbanken Fonder AB reduced its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 84.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,244 shares of the industrial products company’s stock after selling 84,769 shares during the quarter. Handelsbanken Fonder AB’s holdings in Ingersoll Rand were worth $1,179,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Linden Thomas Advisory Services LLC acquired a new position in shares of Ingersoll Rand in the third quarter worth $806,000. Cavalier Investments LLC raised its stake in Ingersoll Rand by 3.7% in the 3rd quarter. Cavalier Investments LLC now owns 11,889 shares of the industrial products company’s stock valued at $758,000 after purchasing an additional 419 shares during the last quarter. Commonwealth Equity Services LLC lifted its holdings in Ingersoll Rand by 1.6% in the 3rd quarter. Commonwealth Equity Services LLC now owns 28,522 shares of the industrial products company’s stock valued at $1,817,000 after purchasing an additional 448 shares in the last quarter. Compagnie Lombard Odier SCmA boosted its stake in shares of Ingersoll Rand by 122.0% during the 3rd quarter. Compagnie Lombard Odier SCmA now owns 67,133 shares of the industrial products company’s stock worth $4,278,000 after purchasing an additional 36,893 shares during the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in shares of Ingersoll Rand by 3.2% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 89,369 shares of the industrial products company’s stock worth $5,695,000 after buying an additional 2,800 shares in the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.

Ingersoll Rand Stock Performance

Shares of NYSE:IR opened at $93.50 on Monday. The company has a market cap of $37.72 billion, a P/E ratio of 49.21, a PEG ratio of 3.26 and a beta of 1.44. Ingersoll Rand Inc. has a one year low of $54.54 and a one year high of $96.17. The business’s 50-day simple moving average is $91.70 and its 200 day simple moving average is $79.86. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.67 and a current ratio of 2.22.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings data on Thursday, February 15th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.76 billion. Ingersoll Rand had a net margin of 11.32% and a return on equity of 12.24%. On average, sell-side analysts forecast that Ingersoll Rand Inc. will post 3.1 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Thursday, May 16th will be given a $0.02 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. Ingersoll Rand’s payout ratio is currently 4.21%.

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

Analyst Ratings Changes

IR has been the topic of several recent analyst reports. StockNews.com downgraded shares of Ingersoll Rand from a “buy” rating to a “hold” rating in a research note on Thursday. BNP Paribas initiated coverage on Ingersoll Rand in a research report on Tuesday, March 12th. They issued a “neutral” rating and a $92.00 price objective for the company. The Goldman Sachs Group upped their target price on Ingersoll Rand from $87.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Wells Fargo & Company raised their price target on Ingersoll Rand from $83.00 to $100.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 20th. Finally, Cfra upped their price objective on shares of Ingersoll Rand from $68.00 to $85.00 and gave the company a “hold” rating in a research note on Friday, February 16th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.73.

Insider Activity

In related news, CAO Michael J. Scheske sold 7,590 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $88.00, for a total value of $667,920.00. Following the transaction, the chief accounting officer now owns 9,715 shares in the company, valued at $854,920. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CAO Michael J. Scheske sold 7,590 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $88.00, for a total transaction of $667,920.00. Following the completion of the sale, the chief accounting officer now owns 9,715 shares of the company’s stock, valued at $854,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Andrew R. Schiesl sold 10,421 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $89.95, for a total transaction of $937,368.95. Following the completion of the sale, the insider now directly owns 48,904 shares in the company, valued at $4,398,914.80. The disclosure for this sale can be found here. Insiders sold 293,011 shares of company stock worth $26,374,789 over the last ninety days. Corporate insiders own 0.83% of the company’s stock.

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.