Retirement Systems of Alabama Trims Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

Retirement Systems of Alabama cut its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 2.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 89,213 shares of the industrial products company’s stock after selling 2,225 shares during the quarter. Retirement Systems of Alabama’s holdings in Ingersoll Rand were worth $6,900,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. OFI Invest Asset Management bought a new stake in shares of Ingersoll Rand in the third quarter worth $25,000. ANTIPODES PARTNERS Ltd acquired a new stake in shares of Ingersoll Rand in the 4th quarter valued at about $27,000. Quintet Private Bank Europe S.A. bought a new position in shares of Ingersoll Rand during the third quarter worth about $28,000. Clearstead Advisors LLC grew its stake in Ingersoll Rand by 348.2% in the third quarter. Clearstead Advisors LLC now owns 493 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 383 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in Ingersoll Rand in the third quarter valued at about $32,000. 95.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Ingersoll Rand

In related news, CAO Michael J. Scheske sold 7,590 shares of the 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 completion of the transaction, the chief accounting officer now owns 9,715 shares in the company, valued at approximately $854,920. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Vicente Reynal sold 240,000 shares of Ingersoll Rand stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $90.16, for a total transaction of $21,638,400.00. Following the transaction, the insider now directly owns 91,957 shares in the company, valued at approximately $8,290,843.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 value of $667,920.00. Following the completion of the sale, the chief accounting officer now owns 9,715 shares of the company’s stock, valued at approximately $854,920. The disclosure for this sale can be found here. Insiders have sold a total of 293,011 shares of company stock worth $26,374,789 over the last ninety days. 0.83% of the stock is currently owned by corporate insiders.

Ingersoll Rand Trading Down 6.6 %

Ingersoll Rand stock opened at $86.72 on Friday. The firm has a 50-day moving average price of $91.96 and a two-hundred day moving average price of $80.58. Ingersoll Rand Inc. has a 52-week low of $56.49 and a 52-week high of $96.17. The firm has a market capitalization of $34.99 billion, a price-to-earnings ratio of 43.14, a PEG ratio of 3.02 and a beta of 1.40. The company has a quick ratio of 1.67, a current ratio of 2.22 and a debt-to-equity ratio of 0.27.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings data on Thursday, February 15th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate 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. Sell-side analysts expect that Ingersoll Rand Inc. will post 3.1 earnings per share for the current year.

Ingersoll Rand announced that its Board of Directors has authorized a share buyback plan on Thursday, April 25th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the industrial products company to repurchase up to 2.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

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 dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date is Wednesday, May 15th. Ingersoll Rand’s dividend payout ratio (DPR) is 3.98%.

Analysts Set New Price Targets

A number of research analysts have commented on IR shares. The Goldman Sachs Group increased their target price on Ingersoll Rand from $87.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $102.00 price objective on shares of Ingersoll Rand in a report on Tuesday, March 26th. Evercore ISI cut shares of Ingersoll Rand from an “outperform” rating to an “in-line” rating and increased their target price for the stock from $81.00 to $89.00 in a report on Tuesday, February 20th. Wells Fargo & Company raised their price target on shares of Ingersoll Rand from $83.00 to $100.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 20th. Finally, Barclays boosted their price objective on shares of Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Ingersoll Rand currently has a consensus rating of “Moderate Buy” and an average target price of $92.73.

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.