Livforsakringsbolaget Skandia Omsesidigt Sells 300 Shares of Ingersoll Rand Inc. (NYSE:IR)

Livforsakringsbolaget Skandia Omsesidigt decreased its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 21.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,102 shares of the industrial products company’s stock after selling 300 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Ingersoll Rand were worth $100,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP grew its position in shares of Ingersoll Rand by 18.9% during the 4th quarter. Allworth Financial LP now owns 1,808 shares of the industrial products company’s stock worth $140,000 after buying an additional 288 shares during the period. Prime Capital Investment Advisors LLC acquired a new position in shares of Ingersoll Rand in the 4th quarter valued at $267,000. Bleakley Financial Group LLC boosted its position in shares of Ingersoll Rand by 15.7% in the 4th quarter. Bleakley Financial Group LLC now owns 5,940 shares of the industrial products company’s stock worth $459,000 after purchasing an additional 807 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of Ingersoll Rand during the fourth quarter worth $558,000. Finally, Cerity Partners LLC increased its holdings in Ingersoll Rand by 78.6% in the fourth quarter. Cerity Partners LLC now owns 261,407 shares of the industrial products company’s stock valued at $20,218,000 after purchasing an additional 115,040 shares during the last quarter. Institutional investors own 95.27% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on IR shares. Jefferies Financial Group started coverage on Ingersoll Rand in a research note on Friday, June 21st. They issued a “buy” rating and a $110.00 price target for the company. Stifel Nicolaus upped their target price on shares of Ingersoll Rand from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Robert W. Baird lifted their price target on shares of Ingersoll Rand from $109.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Cfra restated a “hold” rating and issued a $85.00 price objective on shares of Ingersoll Rand in a research report on Friday, August 2nd. Finally, StockNews.com lowered Ingersoll Rand from a “buy” rating to a “hold” rating in a report on Saturday, May 4th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $100.36.

Insiders Place Their Bets

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

Ingersoll Rand Stock Down 0.6 %

Shares of NYSE:IR traded down $0.55 during mid-day trading on Monday, reaching $88.92. 458,888 shares of the stock were exchanged, compared to its average volume of 2,672,730. The company has a market cap of $35.87 billion, a P/E ratio of 44.51, a P/E/G ratio of 2.68 and a beta of 1.45. The stock’s 50 day simple moving average is $93.17 and its 200-day simple moving average is $91.38. The company has a quick ratio of 1.71, a current ratio of 2.18 and a debt-to-equity ratio of 0.47. Ingersoll Rand Inc. has a one year low of $59.20 and a one year high of $101.30.

Ingersoll Rand Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.08 annualized dividend and a yield of 0.09%. Ingersoll Rand’s payout ratio is currently 3.98%.

Ingersoll Rand announced that its board has authorized a stock buyback program on Thursday, April 25th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the industrial products company to purchase up to 2.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is 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.