Ingersoll Rand Inc. (NYSE:IR) Shares Sold by Banque Cantonale Vaudoise

Banque Cantonale Vaudoise reduced its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 51.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,018 shares of the industrial products company’s stock after selling 3,139 shares during the period. Banque Cantonale Vaudoise’s holdings in Ingersoll Rand were worth $286,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in IR. Czech National Bank grew its stake in Ingersoll Rand by 0.5% during the 1st quarter. Czech National Bank now owns 71,250 shares of the industrial products company’s stock worth $6,765,000 after buying an additional 353 shares during the last quarter. Fulton Bank N.A. grew its stake in Ingersoll Rand by 20.0% during the 1st quarter. Fulton Bank N.A. now owns 4,733 shares of the industrial products company’s stock worth $449,000 after buying an additional 789 shares during the last quarter. Perpetual Ltd bought a new position in Ingersoll Rand during the 1st quarter worth $201,000. Foster Group Inc. bought a new position in Ingersoll Rand during the 1st quarter worth $249,000. Finally, Mather Group LLC. bought a new position in Ingersoll Rand during the 1st quarter worth $148,000. 95.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Andrew R. Schiesl sold 22,369 shares of the company’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $92.17, for a total transaction of $2,061,750.73. Following the completion of the sale, the insider now directly owns 30,846 shares of the company’s stock, valued at $2,843,075.82. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Ingersoll Rand news, insider Andrew R. Schiesl sold 22,369 shares of the firm’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $92.17, for a total transaction of $2,061,750.73. Following the completion of the sale, the insider now directly owns 30,846 shares in the company, valued at approximately $2,843,075.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Vicente Reynal sold 198,486 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $88.11, for a total value of $17,488,601.46. Following the sale, the insider now owns 100,367 shares of the company’s stock, valued at $8,843,336.37. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on IR. BNP Paribas began coverage on Ingersoll Rand in a research note on Tuesday, March 12th. They set a “neutral” rating and a $92.00 price objective for the company. Barclays decreased their price target on Ingersoll Rand from $105.00 to $104.00 and set an “overweight” rating for the company in a research note on Monday, May 6th. StockNews.com cut Ingersoll Rand from a “buy” rating to a “hold” rating in a research note on Saturday, May 4th. Robert W. Baird increased their price target on Ingersoll Rand from $107.00 to $109.00 and gave the stock an “outperform” rating in a research note on Monday, May 6th. Finally, Wells Fargo & Company decreased their price target on Ingersoll Rand from $105.00 to $98.00 and set an “overweight” rating for the company in a research note on Monday, May 6th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Ingersoll Rand has an average rating of “Moderate Buy” and a consensus price target of $97.00.

Ingersoll Rand Trading Down 0.3 %

Shares of IR stock opened at $92.89 on Monday. The stock has a 50-day simple moving average of $91.89 and a 200 day simple moving average of $87.09. Ingersoll Rand Inc. has a fifty-two week low of $59.20 and a fifty-two week high of $96.67. The stock has a market capitalization of $37.47 billion, a P/E ratio of 46.21, a P/E/G ratio of 3.01 and a beta of 1.43. The company has a quick ratio of 1.71, a current ratio of 2.32 and a debt-to-equity ratio of 0.27.

Ingersoll Rand (NYSE:IR) last announced its earnings results on Thursday, May 2nd. The industrial products company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.09. Ingersoll Rand had a return on equity of 12.57% and a net margin of 11.85%. The business had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.70 billion. On average, sell-side analysts expect that Ingersoll Rand Inc. will post 3.18 earnings per share for the current fiscal year.

Ingersoll Rand announced that its Board of Directors has approved a share buyback program on Thursday, April 25th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the industrial products company to purchase up to 2.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Ingersoll Rand Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Thursday, May 16th were issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. The ex-dividend date was Wednesday, May 15th. Ingersoll Rand’s dividend payout ratio is 3.98%.

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.