Ingersoll Rand Inc. (NYSE:IR) Shares Sold by Clearstead Trust LLC

Clearstead Trust LLC trimmed its holdings in Ingersoll Rand Inc. (NYSE:IR) by 33.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 383 shares of the industrial products company’s stock after selling 195 shares during the quarter. Clearstead Trust LLC’s holdings in Ingersoll Rand were worth $30,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. boosted its position 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 purchasing an additional 854,314 shares during the period. FMR LLC boosted its holdings in shares of Ingersoll Rand by 3.4% in the third 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. Barclays PLC grew its position in shares of Ingersoll Rand by 59.8% during the third quarter. Barclays PLC now owns 876,284 shares of the industrial products company’s stock worth $55,836,000 after acquiring an additional 327,931 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Ingersoll Rand by 7,475.8% in the 4th quarter. International Assets Investment Management LLC now owns 281,518 shares of the industrial products company’s stock valued at $21,773,000 after acquiring an additional 277,802 shares during the period. Finally, Qube Research & Technologies Ltd raised its position in Ingersoll Rand by 45.4% in the 3rd quarter. Qube Research & Technologies Ltd now owns 796,696 shares of the industrial products company’s stock valued at $50,765,000 after purchasing an additional 248,634 shares during the last quarter. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IR has been the subject of several research reports. Evercore ISI downgraded Ingersoll Rand from an “outperform” rating to an “in-line” rating and lifted their price target for the stock from $81.00 to $89.00 in a research note on Tuesday, February 20th. Cfra raised their price target on Ingersoll Rand from $68.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, February 16th. StockNews.com lowered shares of Ingersoll Rand from a “buy” rating to a “hold” rating in a report on Saturday. Stifel Nicolaus reaffirmed a “buy” rating and set a $102.00 price target on shares of Ingersoll Rand in a research note on Tuesday, March 26th. Finally, UBS Group lifted their price objective on Ingersoll Rand from $78.00 to $93.00 and gave the company a “buy” rating in a research note on Monday, January 29th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Ingersoll Rand has an average rating of “Moderate Buy” and a consensus target price of $92.73.

Ingersoll Rand Stock Down 6.6 %

Ingersoll Rand stock traded down $6.13 during midday trading on Friday, hitting $86.72. The stock had a trading volume of 6,849,021 shares, compared to its average volume of 2,315,355. The business has a fifty day moving average price of $91.96 and a 200 day moving average price of $80.81. Ingersoll Rand Inc. has a 12 month low of $56.49 and a 12 month high of $96.17. The stock has a market cap of $34.99 billion, a P/E ratio of 43.14, a P/E/G ratio of 3.02 and a beta of 1.40. The company has a current ratio of 2.22, a quick ratio of 1.67 and a debt-to-equity ratio of 0.27.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings results on Thursday, February 15th. The industrial products company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. Ingersoll Rand had a return on equity of 12.66% and a net margin of 11.85%. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.76 billion. Research analysts predict that Ingersoll Rand Inc. will post 3.1 EPS for the current year.

Ingersoll Rand Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 16th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. The ex-dividend date is Wednesday, May 15th. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.98%.

Ingersoll Rand declared that its Board of Directors has initiated a share buyback plan on Thursday, April 25th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the industrial products company to reacquire up to 2.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at Ingersoll Rand

In related 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 sale, the chief accounting officer now owns 9,715 shares of the company’s stock, valued at approximately $854,920. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CAO Michael J. Scheske sold 7,590 shares of Ingersoll Rand stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $88.00, for a total value of $667,920.00. Following the sale, the chief accounting officer now directly owns 9,715 shares in the company, valued at approximately $854,920. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Vicente Reynal sold 240,000 shares of the firm’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 transaction 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 disclosure for this sale can be found here. Insiders sold a total of 293,011 shares of company stock valued at $26,374,789 in the last quarter. Insiders own 0.83% of the company’s stock.

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.