Northern Trust Corp Sells 209,555 Shares of Ingersoll Rand Inc. (NYSE:IR)

Northern Trust Corp cut its stake in shares of Ingersoll Rand Inc. (NYSE:IRFree Report) by 5.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,795,949 shares of the industrial products company’s stock after selling 209,555 shares during the period. Northern Trust Corp owned about 0.94% of Ingersoll Rand worth $293,579,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. FMR LLC increased its position in shares of Ingersoll Rand by 3.4% during the 3rd quarter. FMR LLC now owns 19,190,038 shares of the industrial products company’s stock valued at $1,222,789,000 after purchasing an additional 627,146 shares during the last quarter. Capital International Investors increased its position in shares of Ingersoll Rand by 35.4% during the 4th quarter. Capital International Investors now owns 12,246,481 shares of the industrial products company’s stock valued at $947,143,000 after purchasing an additional 3,202,973 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Ingersoll Rand by 1.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,547,716 shares of the industrial products company’s stock valued at $735,821,000 after purchasing an additional 213,441 shares during the last quarter. Capital Research Global Investors increased its position in shares of Ingersoll Rand by 46.6% during the 4th quarter. Capital Research Global Investors now owns 9,811,827 shares of the industrial products company’s stock valued at $758,847,000 after purchasing an additional 3,119,793 shares during the last quarter. Finally, Fisher Asset Management LLC increased its position in shares of Ingersoll Rand by 2.7% during the 4th quarter. Fisher Asset Management LLC now owns 6,370,883 shares of the industrial products company’s stock valued at $492,724,000 after purchasing an additional 166,999 shares during the last quarter. 95.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on IR shares. Cfra lifted their price objective on Ingersoll Rand from $68.00 to $85.00 and gave the stock a “hold” rating in a report on Friday, February 16th. The Goldman Sachs Group lifted 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. BNP Paribas started coverage on Ingersoll Rand in a report on Tuesday, March 12th. They issued a “neutral” rating and a $92.00 price objective for the company. Evercore ISI lowered Ingersoll Rand from an “outperform” rating to an “in-line” rating and lifted their price objective for the stock from $81.00 to $89.00 in a report on Tuesday, February 20th. Finally, Citigroup lifted their price objective on Ingersoll Rand from $105.00 to $112.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Four 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 an average rating of “Moderate Buy” and an average price target of $95.82.

Get Our Latest Stock Analysis on Ingersoll Rand

Insider Activity

In other news, insider Andrew R. Schiesl sold 22,369 shares of Ingersoll Rand stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $92.17, for a total transaction of $2,061,750.73. Following the completion of the sale, the insider now owns 30,846 shares in the company, valued at approximately $2,843,075.82. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Andrew R. Schiesl sold 22,369 shares of Ingersoll Rand stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $92.17, for a total transaction of $2,061,750.73. Following the completion of the sale, the insider now owns 30,846 shares in the company, valued at approximately $2,843,075.82. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Vicente Reynal sold 198,486 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $88.11, for a total value of $17,488,601.46. Following the completion of the sale, the insider now owns 100,367 shares of the company’s stock, valued at approximately $8,843,336.37. The disclosure for this sale can be found here. In the last 90 days, insiders sold 255,855 shares of company stock worth $22,681,452. 0.68% of the stock is currently owned by insiders.

Ingersoll Rand Stock Up 0.8 %

IR stock opened at $89.13 on Friday. The company has a quick ratio of 1.71, a current ratio of 2.32 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $35.96 billion, a PE ratio of 44.34, a PEG ratio of 2.88 and a beta of 1.43. Ingersoll Rand Inc. has a twelve month low of $59.20 and a twelve month high of $96.67. The stock has a 50-day simple moving average of $91.90 and a two-hundred day simple moving average of $85.43.

Ingersoll Rand (NYSE:IRGet Free Report) last posted its earnings results on Thursday, May 2nd. The industrial products company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.09. The business had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.70 billion. Ingersoll Rand had a return on equity of 12.57% and a net margin of 11.85%. On average, equities analysts predict that Ingersoll Rand Inc. will post 3.18 EPS for the current fiscal year.

Ingersoll Rand Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Thursday, May 16th were given a dividend of $0.02 per share. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.98%.

Ingersoll Rand announced that its board has authorized a share buyback program 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 stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Ingersoll Rand Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Ingersoll Rand (NYSE:IR)

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