Russell Investments Group Ltd. Trims Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

Russell Investments Group Ltd. lowered its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 3.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 300,332 shares of the industrial products company’s stock after selling 12,048 shares during the period. Russell Investments Group Ltd. owned 0.07% of Ingersoll Rand worth $23,238,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC lifted its stake in shares of Ingersoll Rand by 1.6% during the third quarter. Commonwealth Equity Services LLC now owns 28,522 shares of the industrial products company’s stock valued at $1,817,000 after buying an additional 448 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in shares of Ingersoll Rand by 3.2% during the 3rd 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 purchasing an additional 2,800 shares during the period. Xponance Inc. boosted its holdings in shares of Ingersoll Rand by 17.4% during the third quarter. Xponance Inc. now owns 62,024 shares of the industrial products company’s stock worth $3,952,000 after purchasing an additional 9,204 shares during the last quarter. Mission Wealth Management LP purchased a new stake in shares of Ingersoll Rand in the third quarter valued at $357,000. Finally, Dakota Wealth Management increased its stake in Ingersoll Rand by 1.9% in the third quarter. Dakota Wealth Management now owns 35,509 shares of the industrial products company’s stock valued at $2,263,000 after purchasing an additional 667 shares during the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on IR. Wells Fargo & Company lifted their price target on Ingersoll Rand from $83.00 to $100.00 and gave the company an “overweight” rating in a report on Tuesday, February 20th. BNP Paribas assumed coverage on shares of Ingersoll Rand in a research note on Tuesday, March 12th. They set a “neutral” rating and a $92.00 price target on the stock. StockNews.com cut shares of Ingersoll Rand from a “buy” rating to a “hold” rating in a research note on Thursday, April 25th. Barclays increased their target price on Ingersoll Rand from $101.00 to $105.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Finally, Stifel Nicolaus reissued a “buy” rating and set a $102.00 price target on shares of Ingersoll Rand in a research report on Tuesday, March 26th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $92.73.

Insider Buying and Selling at Ingersoll Rand

In other news, insider Andrew R. Schiesl sold 10,421 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $89.95, for a total value of $937,368.95. Following the sale, the insider now owns 48,904 shares in the company, valued at approximately $4,398,914.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Andrew R. Schiesl sold 10,421 shares of Ingersoll Rand stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $89.95, for a total value of $937,368.95. Following the completion of the transaction, the insider now owns 48,904 shares in the company, valued at approximately $4,398,914.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Vicente Reynal sold 240,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $90.16, for a total value of $21,638,400.00. Following the sale, the insider now directly owns 91,957 shares in the company, valued at $8,290,843.12. The disclosure for this sale can be found here. Insiders have sold 293,011 shares of company stock worth $26,374,789 in the last ninety days. 0.83% of the stock is owned by insiders.

Ingersoll Rand Price Performance

Shares of NYSE IR opened at $92.95 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.22 and a quick ratio of 1.67. Ingersoll Rand Inc. has a 1-year low of $55.86 and a 1-year high of $96.17. The company has a market capitalization of $37.51 billion, a price-to-earnings ratio of 48.92, a PEG ratio of 3.25 and a beta of 1.44. The business has a 50-day moving average of $91.99 and a 200-day moving average of $80.34.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings results on Thursday, February 15th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.09. Ingersoll Rand had a net margin of 11.32% and a return on equity of 12.24%. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.76 billion. On average, equities analysts anticipate that Ingersoll Rand Inc. will post 3.1 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 16th will be issued a $0.02 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $0.08 annualized dividend and a yield of 0.09%. Ingersoll Rand’s dividend payout ratio is presently 4.21%.

Ingersoll Rand announced that its Board of Directors has authorized a share repurchase plan 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 shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

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.