Natixis Advisors L.P. Sells 6,142 Shares of Ingersoll Rand Inc. (NYSE:IR)

Natixis Advisors L.P. lessened its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 4.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 130,487 shares of the industrial products company’s stock after selling 6,142 shares during the period. Natixis Advisors L.P.’s holdings in Ingersoll Rand were worth $10,091,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. OFI Invest Asset Management acquired a new position in Ingersoll Rand during the third quarter worth $25,000. ANTIPODES PARTNERS Ltd bought a new stake in shares of Ingersoll Rand in the 4th quarter valued at about $27,000. Quintet Private Bank Europe S.A. acquired a new stake in Ingersoll Rand in the 3rd quarter valued at about $28,000. Clearstead Advisors LLC grew its holdings in Ingersoll Rand by 348.2% during 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 during the period. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in Ingersoll Rand during the third quarter worth approximately $32,000. 95.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on IR. Robert W. Baird boosted their target price on Ingersoll Rand from $107.00 to $109.00 and gave the stock an “outperform” rating in a report on Monday. The Goldman Sachs Group boosted their price objective on Ingersoll Rand from $87.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. StockNews.com cut Ingersoll Rand from a “buy” rating to a “hold” rating in a report on Saturday, May 4th. Cfra lifted their price objective on shares of Ingersoll Rand from $68.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, February 16th. Finally, Stifel Nicolaus restated a “buy” rating and set a $102.00 price objective on shares of Ingersoll Rand in a research note on Tuesday, March 26th. Four investment 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, the company currently has a consensus rating of “Moderate Buy” and an average target price of $95.82.

Ingersoll Rand Stock Up 1.0 %

Shares of NYSE:IR opened at $90.75 on Thursday. Ingersoll Rand Inc. has a 52-week low of $56.49 and a 52-week high of $96.17. The company has a fifty day moving average of $91.90 and a 200-day moving average of $81.21. 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 company has a market capitalization of $36.61 billion, a PE ratio of 45.15, a price-to-earnings-growth ratio of 3.02 and a beta of 1.40.

Ingersoll Rand (NYSE:IR) last issued 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 return on equity of 12.57% and a net margin of 11.85%. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.76 billion. On average, equities analysts predict that Ingersoll Rand Inc. will post 3.1 EPS for the current fiscal year.

Ingersoll Rand Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 16th will be paid 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 of this dividend is Wednesday, May 15th. Ingersoll Rand’s payout ratio is 3.98%.

Ingersoll Rand announced that its Board of Directors has initiated a share buyback program on Thursday, April 25th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 2.7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other news, CAO Michael J. Scheske sold 7,590 shares of the firm’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 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 document filed with the SEC, which is available at the SEC website. In related 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 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Vicente Reynal sold 240,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $90.16, for a total transaction of $21,638,400.00. Following the completion of the sale, the insider now directly owns 91,957 shares in the company, valued at approximately $8,290,843.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 293,011 shares of company stock valued at $26,374,789. 0.83% of the stock is owned by insiders.

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.