Brown Advisory Inc. Sells 9,992 Shares of Ingersoll Rand Inc. (NYSE:IR)

Brown Advisory Inc. trimmed its holdings in Ingersoll Rand Inc. (NYSE:IR) by 63.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,733 shares of the industrial products company’s stock after selling 9,992 shares during the period. Brown Advisory Inc.’s holdings in Ingersoll Rand were worth $459,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Compass Wealth Management LLC boosted its holdings in shares of Ingersoll Rand by 62.8% during the 1st quarter. Compass Wealth Management LLC now owns 355 shares of the industrial products company’s stock worth $28,000 after buying an additional 137 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Ingersoll Rand by 8.6% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,825 shares of the industrial products company’s stock worth $165,000 after buying an additional 145 shares during the period. Arrow Financial Corp boosted its holdings in shares of Ingersoll Rand by 0.5% during the 4th quarter. Arrow Financial Corp now owns 32,343 shares of the industrial products company’s stock worth $2,926,000 after buying an additional 149 shares during the period. GeoWealth Management LLC boosted its holdings in shares of Ingersoll Rand by 10.2% during the 4th quarter. GeoWealth Management LLC now owns 1,726 shares of the industrial products company’s stock worth $156,000 after buying an additional 160 shares during the period. Finally, Rothschild Investment LLC boosted its holdings in shares of Ingersoll Rand by 33.5% during the 1st quarter. Rothschild Investment LLC now owns 654 shares of the industrial products company’s stock worth $52,000 after buying an additional 164 shares during the period. 95.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

IR has been the subject of a number of recent research reports. Melius cut shares of Ingersoll Rand from a “buy” rating to a “hold” rating and set a $93.00 price objective for the company. in a research note on Monday. Citigroup increased their price objective on shares of Ingersoll Rand from $91.00 to $104.00 and gave the company a “buy” rating in a research note on Monday. Stifel Nicolaus dropped their price objective on shares of Ingersoll Rand from $94.00 to $77.00 and set a “hold” rating for the company in a research note on Monday, April 14th. Melius Research set a $93.00 target price on shares of Ingersoll Rand in a research report on Monday. Finally, Barclays increased their price objective on shares of Ingersoll Rand from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, July 9th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Ingersoll Rand presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.42.

Insiders Place Their Bets

In related news, insider Elizabeth Meloy Hepding sold 3,500 shares of Ingersoll Rand stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $83.78, for a total value of $293,230.00. Following the completion of the sale, the insider owned 10,986 shares of the company’s stock, valued at approximately $920,407.08. This trade represents a 24.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Vicente Reynal sold 38,657 shares of Ingersoll Rand stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $83.03, for a total value of $3,209,690.71. Following the transaction, the insider directly owned 193,186 shares of the company’s stock, valued at $16,040,233.58. The trade was a 16.67% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.

Ingersoll Rand Stock Down 1.5%

IR stock opened at $86.36 on Wednesday. The company has a market cap of $34.84 billion, a PE ratio of 42.75, a price-to-earnings-growth ratio of 3.70 and a beta of 1.43. The business has a 50-day simple moving average of $83.25 and a 200 day simple moving average of $83.22. Ingersoll Rand Inc. has a 52 week low of $65.61 and a 52 week high of $106.03. The company has a quick ratio of 1.76, a current ratio of 2.38 and a debt-to-equity ratio of 0.45.

Ingersoll Rand (NYSE:IR) last issued its earnings results on Thursday, May 1st. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.02). Ingersoll Rand had a return on equity of 12.33% and a net margin of 11.30%. The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the prior year, the business earned $0.78 earnings per share. Ingersoll Rand’s revenue for the quarter was up 2.8% on a year-over-year basis. Sell-side analysts anticipate that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Thursday, May 15th were 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 was Thursday, May 15th. Ingersoll Rand’s payout ratio is 3.96%.

Ingersoll Rand announced that its Board of Directors has initiated a share buyback plan on Thursday, May 1st that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the industrial products company to reacquire up to 3.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

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.