Ingersoll Rand Inc. (NYSE:IR) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC decreased its holdings in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 78.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,238 shares of the industrial products company's stock after selling 15,113 shares during the period. Cresset Asset Management LLC's holdings in Ingersoll Rand were worth $383,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of IR. JPMorgan Chase & Co. lifted its holdings in Ingersoll Rand by 8.7% during the third quarter. JPMorgan Chase & Co. now owns 18,229,178 shares of the industrial products company's stock worth $1,789,376,000 after buying an additional 1,462,538 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Ingersoll Rand by 3.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 14,549 shares of the industrial products company's stock valued at $1,428,000 after buying an additional 441 shares during the period. Wedmont Private Capital raised its position in Ingersoll Rand by 10.7% during the fourth quarter. Wedmont Private Capital now owns 6,119 shares of the industrial products company's stock worth $532,000 after acquiring an additional 592 shares during the period. Oak Thistle LLC acquired a new stake in Ingersoll Rand during the 4th quarter worth $740,000. Finally, Park Avenue Securities LLC lifted its position in Ingersoll Rand by 3.3% during the fourth quarter. Park Avenue Securities LLC now owns 4,288 shares of the industrial products company's stock worth $388,000 after buying an additional 136 shares in the last quarter. 95.27% of the stock is owned by hedge funds and other institutional investors.

Ingersoll Rand Price Performance

NYSE:IR traded down $0.50 during mid-day trading on Monday, hitting $83.51. 2,818,277 shares of the company's stock traded hands, compared to its average volume of 2,614,605. Ingersoll Rand Inc. has a 1 year low of $65.61 and a 1 year high of $106.03. The company has a market cap of $33.69 billion, a PE ratio of 40.54, a price-to-earnings-growth ratio of 3.50 and a beta of 1.42. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.29. The firm's 50 day simple moving average is $77.02 and its 200 day simple moving average is $88.03.

Ingersoll Rand (NYSE:IR - Get Free Report) last posted 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). The company had revenue of $1.72 billion during the quarter, compared to analysts' expectations of $1.73 billion. Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. Ingersoll Rand's quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.78 EPS. Sell-side analysts expect that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 15th will be issued a $0.02 dividend. The ex-dividend date is Thursday, May 15th. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. Ingersoll Rand's dividend payout ratio (DPR) is 3.96%.

Ingersoll Rand announced that its board has approved a share repurchase program on Thursday, May 1st that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the industrial products company to purchase up to 3.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms have issued reports on IR. Stifel Nicolaus cut their target price on Ingersoll Rand from $94.00 to $77.00 and set a "hold" rating for the company in a research note on Monday, April 14th. Robert W. Baird boosted their price objective on Ingersoll Rand from $105.00 to $111.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. Evercore ISI dropped their target price on Ingersoll Rand from $100.00 to $91.00 and set an "in-line" rating on the stock in a report on Wednesday, February 19th. Citigroup raised their price objective on shares of Ingersoll Rand from $88.00 to $91.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Finally, Barclays reduced their target price on Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $98.91.

Insiders Place Their Bets

In other Ingersoll Rand news, insider Elizabeth Meloy Hepding sold 3,500 shares of the firm's 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 sale, the insider now directly owns 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.59% of the stock is owned by corporate insiders.

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.