Ingersoll Rand Inc. (NYSE:IR) Holdings Lowered by Leeward Financial Partners LLC

Leeward Financial Partners LLC trimmed its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 6.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,288 shares of the industrial products company’s stock after selling 1,436 shares during the quarter. Leeward Financial Partners LLC’s holdings in Ingersoll Rand were worth $1,926,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IR. LPL Financial LLC grew its stake in shares of Ingersoll Rand by 10.8% in the 3rd quarter. LPL Financial LLC now owns 121,643 shares of the industrial products company’s stock worth $7,751,000 after purchasing an additional 11,813 shares during the last quarter. O Shaughnessy Asset Management LLC grew its stake in shares of Ingersoll Rand by 12.6% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 8,936 shares of the industrial products company’s stock worth $569,000 after purchasing an additional 1,002 shares during the last quarter. Bank of Nova Scotia grew its stake in shares of Ingersoll Rand by 15.2% in the 3rd quarter. Bank of Nova Scotia now owns 37,537 shares of the industrial products company’s stock worth $2,392,000 after purchasing an additional 4,944 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its stake in shares of Ingersoll Rand by 95.4% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 122,081 shares of the industrial products company’s stock worth $7,779,000 after purchasing an additional 59,605 shares during the last quarter. Finally, United Services Automobile Association acquired a new position in shares of Ingersoll Rand in the 3rd quarter worth approximately $661,000. 95.27% of the stock is currently owned by institutional investors.

Ingersoll Rand Stock Up 0.4 %

Ingersoll Rand stock traded up $0.35 during trading hours on Wednesday, hitting $91.01. The company had a trading volume of 651,726 shares, compared to its average volume of 2,671,177. The firm’s fifty day moving average is $92.02 and its 200-day moving average is $87.91. Ingersoll Rand Inc. has a fifty-two week low of $59.20 and a fifty-two week high of $96.67. The firm has a market capitalization of $36.72 billion, a P/E ratio of 45.55, a price-to-earnings-growth ratio of 2.65 and a beta of 1.45. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.32 and a quick ratio of 1.71.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.67 by $0.09. Ingersoll Rand had a net margin of 11.85% and a return on equity of 12.57%. The company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.70 billion. On average, research analysts forecast that Ingersoll Rand Inc. will post 3.19 earnings per share for the current year.

Ingersoll Rand announced that its Board of Directors has authorized a share repurchase plan on Thursday, April 25th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the industrial products company to purchase up to 2.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Ingersoll Rand Dividend Announcement

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

Insider Transactions at Ingersoll Rand

In related news, insider Andrew R. Schiesl sold 22,369 shares of the company’s stock in a transaction on Friday, May 17th. The shares were 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 directly owns 30,846 shares of the company’s stock, valued at approximately $2,843,075.82. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Ingersoll Rand news, insider Vicente Reynal sold 198,486 shares of the stock in a transaction on Tuesday, June 4th. The shares were 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 directly owns 100,367 shares of the company’s stock, valued at approximately $8,843,336.37. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Andrew R. Schiesl sold 22,369 shares of the stock in a transaction on Friday, May 17th. The shares were 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 directly owns 30,846 shares of the company’s stock, valued at $2,843,075.82. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

IR has been the topic of several recent research reports. BNP Paribas initiated coverage on shares of Ingersoll Rand in a research note on Tuesday, March 12th. They issued a “neutral” rating and a $92.00 price objective on the stock. Robert W. Baird boosted their price target on shares of Ingersoll Rand from $107.00 to $109.00 and gave the company an “outperform” rating in a report on Monday, May 6th. Wells Fargo & Company cut their price target on shares of Ingersoll Rand from $105.00 to $98.00 and set an “overweight” rating on the stock in a report on Monday, May 6th. Barclays cut their price target on shares of Ingersoll Rand from $105.00 to $104.00 and set an “overweight” rating on the stock in a report on Monday, May 6th. Finally, StockNews.com lowered shares of Ingersoll Rand from a “buy” rating to a “hold” rating in a report on Saturday, May 4th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $97.00.

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.