Handelsbanken Fonder AB Sells 84,769 Shares of Ingersoll Rand Inc. (NYSE:IR)

Handelsbanken Fonder AB trimmed its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 84.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 15,244 shares of the industrial products company’s stock after selling 84,769 shares during the quarter. Handelsbanken Fonder AB’s holdings in Ingersoll Rand were worth $1,179,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. CWM LLC raised its position in Ingersoll Rand by 4.8% in the fourth quarter. CWM LLC now owns 10,675 shares of the industrial products company’s stock worth $826,000 after purchasing an additional 487 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings 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 buying an additional 523 shares in the last quarter. Signaturefd LLC lifted its position in shares of Ingersoll Rand by 25.9% during the 4th quarter. Signaturefd LLC now owns 10,473 shares of the industrial products company’s stock worth $810,000 after buying an additional 2,153 shares during the period. Lindbrook Capital LLC boosted its stake in Ingersoll Rand by 38.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,671 shares of the industrial products company’s stock valued at $129,000 after buying an additional 461 shares in the last quarter. Finally, abrdn plc grew its position in Ingersoll Rand by 70.2% in the fourth quarter. abrdn plc now owns 169,575 shares of the industrial products company’s stock valued at $13,115,000 after acquiring an additional 69,941 shares during the period. 95.27% of the stock is owned by institutional investors.

Ingersoll Rand Stock Up 1.6 %

NYSE IR opened at $93.50 on Monday. The stock has a market capitalization of $37.72 billion, a P/E ratio of 49.21, a price-to-earnings-growth ratio of 3.26 and a beta of 1.44. Ingersoll Rand Inc. has a 52 week low of $54.54 and a 52 week high of $96.17. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.67 and a current ratio of 2.22. The stock has a fifty day moving average of $91.70 and a 200-day moving average of $79.86.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings data on Thursday, February 15th. The industrial products company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. Ingersoll Rand had a return on equity of 12.24% and a net margin of 11.32%. The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.76 billion. On average, equities research analysts forecast that Ingersoll Rand Inc. will post 3.1 EPS for the current year.

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

Ingersoll Rand Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 16th will be issued a $0.02 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $0.08 annualized dividend and a yield of 0.09%. Ingersoll Rand’s dividend payout ratio is currently 4.21%.

Insider Buying and Selling at Ingersoll Rand

In other Ingersoll Rand news, CAO Michael J. Scheske sold 7,590 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $88.00, for a total transaction of $667,920.00. Following the completion of the sale, the chief accounting officer now owns 9,715 shares in the company, valued at approximately $854,920. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Michael J. Scheske sold 7,590 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $88.00, for a total transaction of $667,920.00. Following the completion of the transaction, the chief accounting officer now directly owns 9,715 shares in the company, valued at approximately $854,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Andrew R. Schiesl sold 35,000 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $89.46, for a total transaction of $3,131,100.00. Following the completion of the sale, the insider now owns 16,525 shares in the company, valued at $1,478,326.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 293,011 shares of company stock valued at $26,374,789. 0.83% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. StockNews.com downgraded shares of Ingersoll Rand from a “buy” rating to a “hold” rating in a research note on Thursday. The Goldman Sachs Group boosted their price target on shares of Ingersoll Rand from $87.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Citigroup raised their price objective on shares of Ingersoll Rand from $105.00 to $112.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Wells Fargo & Company boosted their target price on Ingersoll Rand from $83.00 to $100.00 and gave the stock an “overweight” rating in a report on Tuesday, February 20th. Finally, Barclays raised their price target on Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Ingersoll Rand presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.73.

Ingersoll Rand Company 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.