Lansforsakringar Fondforvaltning AB publ Purchases New Shares in Ingersoll Rand Inc. (NYSE:IR)

Lansforsakringar Fondforvaltning AB publ acquired a new position in Ingersoll Rand Inc. (NYSE:IR - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 129,278 shares of the industrial products company's stock, valued at approximately $11,694,000.

A number of other institutional investors have also made changes to their positions in the business. Dogwood Wealth Management LLC lifted its position in shares of Ingersoll Rand by 10.7% in the fourth quarter. Dogwood Wealth Management LLC now owns 5,767 shares of the industrial products company's stock worth $522,000 after purchasing an additional 559 shares in the last quarter. Siemens Fonds Invest GmbH lifted its position in shares of Ingersoll Rand by 243.7% in the fourth quarter. Siemens Fonds Invest GmbH now owns 15,221 shares of the industrial products company's stock worth $1,377,000 after purchasing an additional 10,792 shares in the last quarter. Park Square Financial Group LLC bought a new stake in shares of Ingersoll Rand in the fourth quarter worth $122,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Ingersoll Rand in the fourth quarter worth $28,321,000. Finally, Azzad Asset Management Inc. ADV lifted its position in shares of Ingersoll Rand by 1.3% in the fourth quarter. Azzad Asset Management Inc. ADV now owns 13,342 shares of the industrial products company's stock worth $1,207,000 after purchasing an additional 169 shares in the last quarter. Institutional investors own 95.27% of the company's stock.

Ingersoll Rand Stock Performance

Shares of IR traded down $0.48 during trading hours on Friday, hitting $81.67. The company had a trading volume of 5,060,186 shares, compared to its average volume of 2,609,983. The firm has a market cap of $32.95 billion, a price-to-earnings ratio of 39.65, a PEG ratio of 3.50 and a beta of 1.42. The business has a fifty day moving average of $77.03 and a 200-day moving average of $86.91. Ingersoll Rand Inc. has a 12 month low of $65.61 and a 12 month high of $106.03. The company has a quick ratio of 1.71, a current ratio of 2.29 and a debt-to-equity ratio of 0.46.

Ingersoll Rand (NYSE:IR - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The industrial products company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.02). The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.73 billion. Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. Ingersoll Rand's revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.78 earnings per share. Equities analysts anticipate that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand declared that its board has approved a stock buyback plan on Thursday, May 1st that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to repurchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.

Ingersoll Rand Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 15th will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.10%. The ex-dividend date is Thursday, May 15th. Ingersoll Rand's payout ratio is presently 3.96%.

Insider Activity

In related news, insider Elizabeth Meloy Hepding sold 3,500 shares of the company's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $83.78, for a total value of $293,230.00. Following the transaction, the insider now directly owns 10,986 shares in the company, valued at approximately $920,407.08. This represents a 24.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Vicente Reynal sold 38,657 shares of the company's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $83.03, for a total transaction of $3,209,690.71. Following the completion of the transaction, the insider now owns 193,186 shares in the company, valued at $16,040,233.58. This trade represents a 16.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.68% of the company's stock.

Analyst Upgrades and Downgrades

IR has been the topic of a number of research reports. Barclays cut their price objective on shares of Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Stifel Nicolaus cut their price objective on shares of Ingersoll Rand from $94.00 to $77.00 and set a "hold" rating on the stock in a research report on Monday, April 14th. Citigroup upped their price target on shares of Ingersoll Rand from $88.00 to $91.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Wells Fargo & Company upped their price target on shares of Ingersoll Rand from $80.00 to $86.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Finally, Evercore ISI dropped their price target on shares of Ingersoll Rand from $100.00 to $91.00 and set an "in-line" rating on the stock in a research report on Wednesday, February 19th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Ingersoll Rand presently has an average rating of "Moderate Buy" and an average target price of $98.91.

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.