Ingersoll Rand Inc. (NYSE:IR) Shares Sold by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd cut its holdings in shares of Ingersoll Rand Inc. (NYSE:IRFree Report) by 1.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 48,016 shares of the industrial products company’s stock after selling 673 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Ingersoll Rand were worth $3,714,000 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 IR. ANTIPODES PARTNERS Ltd acquired 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. Wetzel Investment Advisors Inc. purchased a new position in Ingersoll Rand during the fourth quarter worth about $42,000. Finally, CVA Family Office LLC purchased a new position in Ingersoll Rand during the fourth quarter worth about $71,000. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on IR. Evercore ISI downgraded shares of Ingersoll Rand from an “outperform” rating to an “in-line” rating and lifted their target price for the stock from $81.00 to $89.00 in a research note on Tuesday, February 20th. StockNews.com downgraded shares of Ingersoll Rand from a “buy” rating to a “hold” rating in a research note on Saturday, May 4th. 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 research note on Monday, May 6th. 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 target on the stock. Finally, 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. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $95.82.

View Our Latest Analysis on Ingersoll Rand

Insiders Place Their Bets

In other 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 value of $2,061,750.73. Following the completion of the transaction, the insider now owns 30,846 shares in the company, valued at approximately $2,843,075.82. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Ingersoll Rand 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 transaction, the insider now owns 30,846 shares in the company, valued at approximately $2,843,075.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Andrew R. Schiesl sold 35,000 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $89.46, for a total transaction of $3,131,100.00. Following the transaction, the insider now owns 16,525 shares of the company’s stock, valued at approximately $1,478,326.50. The disclosure for this sale can be found here. Insiders sold 297,369 shares of company stock worth $26,831,251 in the last 90 days. Corporate insiders own 0.68% of the company’s stock.

Ingersoll Rand Stock Down 0.3 %

IR traded down $0.32 during trading hours on Thursday, hitting $95.96. 1,003,833 shares of the company’s stock were exchanged, compared to its average volume of 2,598,718. Ingersoll Rand Inc. has a 12-month low of $56.49 and a 12-month high of $96.67. The firm has a 50 day moving average of $92.32 and a 200 day moving average of $83.49. The firm has a market cap of $38.71 billion, a P/E ratio of 47.67, a price-to-earnings-growth ratio of 3.12 and a beta of 1.40. The company has a current ratio of 2.32, a quick ratio of 1.71 and a debt-to-equity ratio of 0.27.

Ingersoll Rand Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Thursday, May 16th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.08%. The ex-dividend date of this dividend is Wednesday, May 15th. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.98%.

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

Ingersoll Rand Company 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.

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

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