Ingersoll Rand Inc. (NYSE:IR) Shares Sold by Knowledge Leaders Capital LLC

Knowledge Leaders Capital LLC cut its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 8.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 6,642 shares of the industrial products company’s stock after selling 596 shares during the period. Knowledge Leaders Capital LLC’s holdings in Ingersoll Rand were worth $514,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. OFI Invest Asset Management purchased a new position in Ingersoll Rand during the third quarter worth about $25,000. ANTIPODES PARTNERS Ltd purchased a new position in Ingersoll Rand during the fourth quarter worth about $27,000. Quintet Private Bank Europe S.A. purchased a new position in Ingersoll Rand during the third quarter worth about $28,000. Clearstead Advisors LLC raised its stake 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. purchased a new position in Ingersoll Rand during the third quarter worth about $32,000. 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Andrew R. Schiesl sold 35,000 shares of Ingersoll Rand stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $89.46, for a total transaction of $3,131,100.00. Following the sale, the insider now owns 16,525 shares in the company, valued at $1,478,326.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Michael J. Scheske sold 7,590 shares of the firm’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 9,715 shares of the company’s stock, valued at approximately $854,920. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 293,011 shares of company stock worth $26,374,789. Company insiders own 0.83% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Stifel Nicolaus reissued a “buy” rating and issued a $102.00 price target on shares of Ingersoll Rand in a research note on Tuesday, March 26th. UBS Group boosted their price target on shares of Ingersoll Rand from $78.00 to $93.00 and gave the company a “buy” rating in a research note on Monday, January 29th. Evercore ISI downgraded shares of Ingersoll Rand from an “outperform” rating to an “in-line” rating and boosted their price target for the company from $81.00 to $89.00 in a research note on Tuesday, February 20th. Wells Fargo & Company boosted their price target on shares of Ingersoll Rand from $83.00 to $100.00 and gave the company an “overweight” rating in a research note on Tuesday, February 20th. Finally, The Goldman Sachs Group upped their target price on shares of Ingersoll Rand from $87.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $92.73.

Ingersoll Rand Stock Performance

Ingersoll Rand stock traded up $1.47 during trading hours on Friday, reaching $93.50. 1,973,863 shares of the stock were exchanged, compared to its average volume of 2,041,726. The stock has a market cap of $37.72 billion, a P/E ratio of 49.21, a P/E/G ratio of 3.21 and a beta of 1.44. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.67 and a current ratio of 2.22. Ingersoll Rand Inc. has a 52-week low of $54.54 and a 52-week high of $96.17. The firm’s 50 day moving average is $91.70 and its 200 day moving average is $79.66.

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

Ingersoll Rand declared that its board has approved a share repurchase program on Thursday, April 25th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the industrial products company to reacquire up to 2.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Ingersoll Rand Dividend Announcement

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