Ingersoll Rand Inc. (NYSE:IR) Shares Sold by Boyd Watterson Asset Management LLC OH

Boyd Watterson Asset Management LLC OH reduced its holdings in Ingersoll Rand Inc. (NYSE:IR) by 10.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,314 shares of the industrial products company’s stock after selling 154 shares during the quarter. Boyd Watterson Asset Management LLC OH’s holdings in Ingersoll Rand were worth $102,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Bank Julius Baer & Co. Ltd Zurich boosted its position 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 buying an additional 81,990 shares during the period. Syon Capital LLC purchased a new stake in shares of Ingersoll Rand in the fourth quarter worth about $264,000. Tokio Marine Asset Management Co. Ltd. boosted its position in shares of Ingersoll Rand by 4.3% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 11,143 shares of the industrial products company’s stock worth $862,000 after buying an additional 458 shares during the period. Atria Wealth Solutions Inc. boosted its position in shares of Ingersoll Rand by 47.5% in the fourth quarter. Atria Wealth Solutions Inc. now owns 8,559 shares of the industrial products company’s stock worth $662,000 after buying an additional 2,756 shares during the period. Finally, GAMMA Investing LLC purchased a new stake in shares of Ingersoll Rand in the fourth quarter worth about $299,000. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Ingersoll Rand

In related news, insider Andrew R. Schiesl sold 35,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now directly owns 16,525 shares in the company, valued at approximately $1,478,326.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CAO Michael J. Scheske sold 7,590 shares of Ingersoll Rand stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $88.00, for a total transaction of $667,920.00. Following the transaction, the chief accounting officer now directly owns 9,715 shares in the company, valued at approximately $854,920. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Andrew R. Schiesl sold 35,000 shares of Ingersoll Rand stock in a transaction on Monday, March 11th. The shares were sold at an average price of $89.46, for a total value of $3,131,100.00. Following the transaction, the insider now owns 16,525 shares in the company, valued at $1,478,326.50. 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 in the last three months. 0.83% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on IR shares. Evercore ISI downgraded Ingersoll Rand from an “outperform” rating to an “in-line” rating and upped their target price for the stock from $81.00 to $89.00 in a research report on Tuesday, February 20th. Stifel Nicolaus reissued a “buy” rating and issued a $102.00 price target on shares of Ingersoll Rand in a report on Tuesday, March 26th. The Goldman Sachs Group increased their price target on Ingersoll Rand from $87.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Barclays increased their price target on Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Finally, Wells Fargo & Company increased their price target on Ingersoll Rand from $83.00 to $100.00 and gave the company an “overweight” rating in a report on Tuesday, February 20th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.73.

Ingersoll Rand Stock Performance

Shares of Ingersoll Rand stock traded up $1.47 on Friday, reaching $93.50. 1,973,863 shares of the company were exchanged, compared to its average volume of 2,041,726. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.67 and a current ratio of 2.22. The company’s 50-day moving average is $91.70 and its two-hundred day moving average is $79.66. The firm has a market cap of $37.72 billion, a price-to-earnings ratio of 49.21, a P/E/G ratio of 3.21 and a beta of 1.44. Ingersoll Rand Inc. has a 1-year low of $54.54 and a 1-year high of $96.17.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings results on Thursday, February 15th. The industrial products company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Ingersoll Rand had a return on equity of 12.24% and a net margin of 11.32%. As a group, research analysts expect that Ingersoll Rand Inc. will post 3.1 earnings per share for the current fiscal year.

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

Ingersoll Rand Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 16th will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.09%. The ex-dividend date of this dividend is Wednesday, May 15th. Ingersoll Rand’s dividend payout ratio is currently 4.21%.

Ingersoll Rand 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.