Ingersoll Rand Inc. (NYSE:IR) Holdings Reduced by Sigma Planning Corp

Sigma Planning Corp decreased its position in Ingersoll Rand Inc. (NYSE:IR) by 68.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 3,656 shares of the industrial products company’s stock after selling 8,050 shares during the period. Sigma Planning Corp’s holdings in Ingersoll Rand were worth $283,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. CWM LLC grew its position in Ingersoll Rand by 4.8% in the 4th quarter. CWM LLC now owns 10,675 shares of the industrial products company’s stock worth $826,000 after purchasing an additional 487 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Ingersoll Rand by 1.3% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 41,908 shares of the industrial products company’s stock worth $3,241,000 after acquiring an additional 523 shares during the period. Signaturefd LLC lifted its stake in shares of Ingersoll Rand by 25.9% in the 4th quarter. Signaturefd LLC now owns 10,473 shares of the industrial products company’s stock worth $810,000 after acquiring an additional 2,153 shares during the period. Lindbrook Capital LLC lifted its stake in shares of Ingersoll Rand by 38.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,671 shares of the industrial products company’s stock worth $129,000 after acquiring an additional 461 shares during the period. Finally, abrdn plc lifted its stake in shares of Ingersoll Rand by 70.2% in the 4th quarter. abrdn plc now owns 169,575 shares of the industrial products company’s stock worth $13,115,000 after acquiring an additional 69,941 shares during the period. Institutional investors own 95.27% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on IR. Barclays upped their price target on shares of Ingersoll Rand from $101.00 to $105.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. UBS Group upped their price target on shares of Ingersoll Rand from $78.00 to $93.00 and gave the stock a “buy” rating in a research note on Monday, January 29th. Evercore ISI lowered shares of Ingersoll Rand from an “outperform” rating to an “in-line” rating and upped their price target for the stock from $81.00 to $89.00 in a research note on Tuesday, February 20th. Citigroup upped their price target on shares of Ingersoll Rand from $105.00 to $112.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Finally, Wells Fargo & Company increased their target price on shares of Ingersoll Rand from $83.00 to $100.00 and gave the company an “overweight” rating in a research note on Tuesday, February 20th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ingersoll Rand has an average rating of “Moderate Buy” and a consensus price target of $92.73.

Ingersoll Rand Stock Up 1.6 %

IR stock opened at $93.50 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.22 and a quick ratio of 1.67. The firm has a market cap of $37.72 billion, a PE ratio of 49.21, a P/E/G ratio of 3.21 and a beta of 1.44. Ingersoll Rand Inc. has a 12 month low of $54.54 and a 12 month high of $96.17. The firm has a 50 day simple moving average of $91.70 and a 200 day simple moving average of $79.76.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings results on Thursday, February 15th. The industrial products company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.74 by $0.09. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.76 billion. Ingersoll Rand had a net margin of 11.32% and a return on equity of 12.24%. Equities research analysts forecast that Ingersoll Rand Inc. will post 3.1 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The company 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 dividend yield of 0.09%. Ingersoll Rand’s dividend payout ratio (DPR) is presently 4.21%.

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

Insider Activity at Ingersoll Rand

In related news, insider Andrew R. Schiesl sold 10,421 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $89.95, for a total value of $937,368.95. Following the completion of the sale, the insider now owns 48,904 shares in the company, valued at approximately $4,398,914.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Ingersoll Rand news, CAO Michael J. Scheske sold 7,590 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were 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 approximately $854,920. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Andrew R. Schiesl sold 10,421 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $89.95, for a total transaction of $937,368.95. Following the completion of the transaction, the insider now owns 48,904 shares in the company, valued at approximately $4,398,914.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 293,011 shares of company stock worth $26,374,789. 0.83% of the stock is owned by corporate insiders.

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.