Commerce Bank Trims Stock Position in Ingersoll Rand Inc. (NYSE:IR)

Commerce Bank cut its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 3.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 43,089 shares of the industrial products company’s stock after selling 1,430 shares during the quarter. Commerce Bank’s holdings in Ingersoll Rand were worth $3,333,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of IR. Norges Bank purchased a new position in Ingersoll Rand during the fourth quarter worth about $301,890,000. UBS Group AG raised its stake in shares of Ingersoll Rand by 105.3% in the 4th quarter. UBS Group AG now owns 2,077,028 shares of the industrial products company’s stock valued at $160,637,000 after acquiring an additional 1,065,413 shares during the period. Adage Capital Partners GP L.L.C. raised its stake in shares of Ingersoll Rand by 101.0% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,700,061 shares of the industrial products company’s stock valued at $108,328,000 after acquiring an additional 854,314 shares during the period. FMR LLC raised its stake in shares of Ingersoll Rand by 3.4% in the 3rd quarter. FMR LLC now owns 19,190,038 shares of the industrial products company’s stock valued at $1,222,789,000 after acquiring an additional 627,146 shares during the period. Finally, Barclays PLC raised its stake in shares of Ingersoll Rand by 59.8% in the 3rd quarter. Barclays PLC now owns 876,284 shares of the industrial products company’s stock valued at $55,836,000 after acquiring an additional 327,931 shares during the period. 95.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. UBS Group boosted their price target on shares of Ingersoll Rand from $78.00 to $93.00 and gave the company a “buy” rating in a research note on Monday, January 29th. BNP Paribas started coverage on shares of Ingersoll Rand in a report on Tuesday, March 12th. They issued a “neutral” rating and a $92.00 price objective for the company. Robert W. Baird lifted their price objective on shares of Ingersoll Rand from $107.00 to $109.00 and gave the company an “outperform” rating in a report on Monday, May 6th. Citigroup lifted their price objective on shares of Ingersoll Rand from $105.00 to $112.00 and gave the company a “buy” rating in a report on Monday, April 8th. Finally, Wells Fargo & Company dropped their price objective on shares of Ingersoll Rand from $105.00 to $98.00 and set an “overweight” rating for the company in a report on Monday, May 6th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $95.82.

Insider Activity at Ingersoll Rand

In related news, insider Vicente Reynal sold 240,000 shares of the company’s stock in a transaction 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 owns 91,957 shares in the company, valued at approximately $8,290,843.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Ingersoll Rand news, insider Vicente Reynal sold 240,000 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $90.16, for a total transaction of $21,638,400.00. Following the completion of the transaction, the insider now owns 91,957 shares in the company, valued at approximately $8,290,843.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Andrew R. Schiesl sold 35,000 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $89.46, for a total transaction of $3,131,100.00. Following the transaction, the insider now owns 16,525 shares of the company’s stock, valued at approximately $1,478,326.50. The disclosure for this sale can be found here. Insiders sold a total of 297,369 shares of company stock worth $26,831,251 in the last 90 days. 0.68% of the stock is owned by insiders.

Ingersoll Rand Trading Up 0.4 %

Shares of Ingersoll Rand stock opened at $95.50 on Monday. The company has a fifty day simple moving average of $92.50 and a 200-day simple moving average of $84.03. Ingersoll Rand Inc. has a 12-month low of $56.49 and a 12-month high of $96.67. The company has a current ratio of 2.32, a quick ratio of 1.71 and a debt-to-equity ratio of 0.27. The stock has a market cap of $38.53 billion, a price-to-earnings ratio of 47.51, a PEG ratio of 3.13 and a beta of 1.40.

Ingersoll Rand (NYSE:IR) last issued its earnings results on Thursday, May 2nd. The industrial products company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.09. Ingersoll Rand had a net margin of 11.85% and a return on equity of 12.57%. The business had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.70 billion. On average, equities analysts forecast that Ingersoll Rand Inc. will post 3.14 EPS for the current fiscal year.

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 given a $0.02 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $0.08 annualized dividend and a yield of 0.08%. Ingersoll Rand’s dividend payout ratio (DPR) is 3.98%.

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

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.