Kestra Private Wealth Services LLC Sells 532 Shares of Ingersoll Rand Inc. (NYSE:IR)

Kestra Private Wealth Services LLC decreased its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 10.5% in the 4th quarter, HoldingsChannel reports. The fund owned 4,526 shares of the industrial products company’s stock after selling 532 shares during the period. Kestra Private Wealth Services LLC’s holdings in Ingersoll Rand were worth $350,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Ledyard National Bank acquired a new position in Ingersoll Rand during the fourth quarter worth $212,000. Mitchell Mcleod Pugh & Williams Inc. acquired a new stake in shares of Ingersoll Rand in the 4th quarter worth about $212,000. Argyle Capital Management Inc. acquired a new position in Ingersoll Rand during the 4th quarter valued at about $205,000. PGGM Investments increased its holdings in Ingersoll Rand by 3.4% during the 4th quarter. PGGM Investments now owns 23,809 shares of the industrial products company’s stock worth $1,841,000 after purchasing an additional 775 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of Ingersoll Rand by 742.9% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 93,026 shares of the industrial products company’s stock worth $7,195,000 after purchasing an additional 81,990 shares during the last quarter. 95.27% of the stock is owned by institutional investors and hedge funds.

Ingersoll Rand Trading Up 1.5 %

Shares of Ingersoll Rand stock opened at $89.85 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.71 and a current ratio of 2.32. The stock has a market capitalization of $36.26 billion, a P/E ratio of 44.70, a P/E/G ratio of 3.02 and a beta of 1.40. Ingersoll Rand Inc. has a 52-week low of $56.49 and a 52-week high of $96.17. The stock’s 50-day simple moving average is $91.90 and its 200 day simple moving average is $81.21.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings data on Thursday, February 15th. The industrial products company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.74 by $0.09. Ingersoll Rand had a net margin of 11.85% and a return on equity of 12.57%. The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.76 billion. As a group, research analysts anticipate that Ingersoll Rand Inc. will post 3.1 EPS for the current year.

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

Ingersoll Rand Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 16th will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. Ingersoll Rand’s payout ratio is 3.98%.

Insider Buying and Selling

In other Ingersoll Rand news, CAO Michael J. Scheske sold 7,590 shares of Ingersoll Rand 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 owns 9,715 shares of the company’s stock, valued at approximately $854,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Ingersoll Rand news, insider Andrew R. Schiesl sold 35,000 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $89.46, for a total value of $3,131,100.00. Following the transaction, the insider now directly owns 16,525 shares in the company, valued at approximately $1,478,326.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 owns 9,715 shares of the company’s stock, valued at approximately $854,920. The disclosure for this sale can be found here. In the last quarter, insiders have sold 293,011 shares of company stock valued at $26,374,789. Corporate insiders own 0.83% of the company’s stock.

Wall Street Analyst Weigh In

IR has been the subject of several recent research reports. Stifel Nicolaus reiterated a “buy” rating and set a $102.00 price target on shares of Ingersoll Rand in a report on Tuesday, March 26th. Robert W. Baird raised their price target on shares of Ingersoll Rand from $107.00 to $109.00 and gave the company an “outperform” rating in a research report on Monday. UBS Group upped their price objective on shares of Ingersoll Rand from $78.00 to $93.00 and gave the stock a “buy” rating in a research report on Monday, January 29th. Evercore ISI cut shares of Ingersoll Rand from an “outperform” rating to an “in-line” rating and lifted their target price for the stock from $81.00 to $89.00 in a research report on Tuesday, February 20th. Finally, Citigroup upped their target price on Ingersoll Rand from $105.00 to $112.00 and gave the company a “buy” rating in a report on Monday, April 8th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $95.82.

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.