Swiss National Bank Decreases Holdings in Ingersoll Rand Inc. (NYSE:IR)

Swiss National Bank decreased its holdings in Ingersoll Rand Inc. (NYSE:IR) by 2.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,264,580 shares of the industrial products company’s stock after selling 36,700 shares during the period. Swiss National Bank owned 0.31% of Ingersoll Rand worth $97,803,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IR. OFI Invest Asset Management bought a new position in Ingersoll Rand during the third quarter valued at $25,000. ANTIPODES PARTNERS Ltd purchased a new stake in Ingersoll Rand in the 4th quarter worth about $27,000. Quintet Private Bank Europe S.A. bought a new stake in Ingersoll Rand in the third quarter worth about $28,000. Clearstead Advisors LLC lifted its stake in Ingersoll Rand by 348.2% in the third quarter. Clearstead Advisors LLC now owns 493 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 383 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Ingersoll Rand during the third quarter valued at approximately $32,000. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Trading Down 6.6 %

Shares of NYSE IR opened at $86.72 on Friday. Ingersoll Rand Inc. has a 1-year low of $56.49 and a 1-year high of $96.17. The business has a fifty day moving average price of $91.96 and a 200 day moving average price of $80.58. The stock has a market capitalization of $34.99 billion, a P/E ratio of 43.14, a price-to-earnings-growth ratio of 3.02 and a beta of 1.40. 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 (NYSE:IR) last announced its earnings results on Thursday, February 15th. The industrial products company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.09. Ingersoll Rand had a net margin of 11.85% and a return on equity of 12.66%. The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.76 billion. Equities research analysts expect that Ingersoll Rand Inc. will post 3.1 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

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

Ingersoll Rand announced that its Board of Directors has approved a share repurchase program on Thursday, April 25th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the industrial products company to reacquire up to 2.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several brokerages have recently weighed in on IR. StockNews.com downgraded Ingersoll Rand from a “buy” rating to a “hold” rating in a report on Saturday. Citigroup lifted their target price on Ingersoll Rand from $105.00 to $112.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Stifel Nicolaus restated a “buy” rating and issued a $102.00 price target on shares of Ingersoll Rand in a report on Tuesday, March 26th. BNP Paribas initiated coverage on shares of Ingersoll Rand in a report on Tuesday, March 12th. They set a “neutral” rating and a $92.00 price objective for the company. Finally, Barclays boosted their price objective on shares of Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $92.73.

Insider Buying and Selling at Ingersoll Rand

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

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.