UBS Group AG Acquires 1,065,413 Shares of Ingersoll Rand Inc. (NYSE:IR)

UBS Group AG increased its holdings in Ingersoll Rand Inc. (NYSE:IRFree Report) by 105.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,077,028 shares of the industrial products company’s stock after buying an additional 1,065,413 shares during the period. UBS Group AG owned about 0.51% of Ingersoll Rand worth $160,637,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. ANTIPODES PARTNERS Ltd purchased a new position in shares of Ingersoll Rand in the 4th quarter worth approximately $27,000. Quintet Private Bank Europe S.A. acquired a new position in shares of Ingersoll Rand during the third quarter worth $28,000. Clearstead Advisors LLC lifted its holdings in shares of Ingersoll Rand by 348.2% during the 3rd quarter. Clearstead Advisors LLC now owns 493 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 383 shares during the last quarter. Wetzel Investment Advisors Inc. acquired a new stake in shares of Ingersoll Rand in the 4th quarter worth $42,000. Finally, CVA Family Office LLC purchased a new position in Ingersoll Rand during the 4th quarter worth $71,000. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Stock Up 1.6 %

IR stock opened at $94.14 on Tuesday. Ingersoll Rand Inc. has a one year low of $56.49 and a one year high of $96.17. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.71 and a current ratio of 2.32. The firm’s fifty day moving average is $92.12 and its 200 day moving average is $83.18. The firm has a market cap of $37.98 billion, a PE ratio of 46.84, a P/E/G ratio of 3.03 and a beta of 1.40.

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

Ingersoll Rand Dividend Announcement

The firm 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 of this dividend is 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%.

Insider Buying and Selling at Ingersoll Rand

In other Ingersoll Rand news, CAO Michael J. Scheske sold 7,590 shares of the stock in a transaction 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 transaction, the chief accounting officer now directly owns 9,715 shares of the company’s stock, valued at $854,920. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 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 document filed with the SEC, which is accessible through this hyperlink. Also, insider Andrew R. Schiesl sold 35,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $89.46, for a total value of $3,131,100.00. Following the sale, the insider now owns 16,525 shares of the company’s stock, valued at $1,478,326.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 293,011 shares of company stock valued at $26,374,789. Company insiders own 0.68% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Cfra raised their price target on Ingersoll Rand from $68.00 to $85.00 and gave the stock a “hold” rating in a report on Friday, February 16th. Evercore ISI lowered shares of Ingersoll Rand from an “outperform” rating to an “in-line” rating and upped their price target for the company from $81.00 to $89.00 in a research note on Tuesday, February 20th. Stifel Nicolaus restated a “buy” rating and issued a $102.00 price objective on shares of Ingersoll Rand in a research note on Tuesday, March 26th. StockNews.com lowered Ingersoll Rand from a “buy” rating to a “hold” rating in a research report on Saturday, May 4th. Finally, Citigroup raised their price target on shares of Ingersoll Rand from $105.00 to $112.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Ingersoll Rand has an average rating of “Moderate Buy” and an average price target of $95.82.

Read Our Latest Research Report on Ingersoll Rand

About Ingersoll Rand

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Ingersoll Rand (NYSE:IR)

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