Bank Julius Baer & Co. Ltd Zurich Lowers Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

Bank Julius Baer & Co. Ltd Zurich cut its holdings in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 37.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 221,479 shares of the industrial products company's stock after selling 132,631 shares during the period. Bank Julius Baer & Co. Ltd Zurich owned 0.05% of Ingersoll Rand worth $18,391,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in IR. Proficio Capital Partners LLC bought a new stake in shares of Ingersoll Rand during the 4th quarter valued at $131,000. Commonwealth Equity Services LLC raised its position in shares of Ingersoll Rand by 2.0% during the 4th quarter. Commonwealth Equity Services LLC now owns 29,972 shares of the industrial products company's stock valued at $2,711,000 after purchasing an additional 602 shares during the period. Teacher Retirement System of Texas raised its position in shares of Ingersoll Rand by 39.8% during the 4th quarter. Teacher Retirement System of Texas now owns 3,777 shares of the industrial products company's stock valued at $342,000 after purchasing an additional 1,075 shares during the period. KLP Kapitalforvaltning AS bought a new stake in shares of Ingersoll Rand during the 4th quarter valued at $11,986,000. Finally, LPL Financial LLC raised its position in shares of Ingersoll Rand by 204.0% during the 4th quarter. LPL Financial LLC now owns 706,886 shares of the industrial products company's stock valued at $63,945,000 after purchasing an additional 474,331 shares during the period. 95.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

IR has been the topic of several recent analyst reports. Citigroup restated a "buy" rating and set a $104.00 price objective (up from $91.00) on shares of Ingersoll Rand in a research report on Monday, July 14th. Melius downgraded shares of Ingersoll Rand from a "buy" rating to a "hold" rating and set a $93.00 price objective on the stock. in a research report on Monday, July 14th. Stifel Nicolaus raised their price objective on shares of Ingersoll Rand from $78.00 to $95.00 and gave the company a "hold" rating in a research report on Monday, July 21st. Wells Fargo & Company lifted their price target on shares of Ingersoll Rand from $86.00 to $95.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Finally, Barclays lifted their price target on shares of Ingersoll Rand from $85.00 to $92.00 and gave the company an "overweight" rating in a report on Wednesday, July 9th. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Ingersoll Rand has a consensus rating of "Hold" and an average price target of $100.92.

Ingersoll Rand Price Performance

Shares of NYSE:IR traded up $1.38 on Friday, reaching $88.27. The company's stock had a trading volume of 2,081,241 shares, compared to its average volume of 2,603,943. Ingersoll Rand Inc. has a 52-week low of $65.61 and a 52-week high of $106.03. The company has a market cap of $35.61 billion, a P/E ratio of 43.70, a PEG ratio of 3.71 and a beta of 1.43. The company has a 50-day simple moving average of $83.96 and a 200 day simple moving average of $82.99. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.76 and a current ratio of 2.38.

Ingersoll Rand (NYSE:IR - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The industrial products company reported $0.72 EPS for the quarter, missing analysts' consensus estimates of $0.74 by ($0.02). Ingersoll Rand had a return on equity of 12.33% and a net margin of 11.30%. The business had revenue of $1.72 billion during the quarter, compared to analysts' expectations of $1.73 billion. During the same period in the previous year, the business earned $0.78 earnings per share. The business's quarterly revenue was up 2.8% on a year-over-year basis. As a group, equities research analysts anticipate that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 14th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $0.08 annualized dividend and a yield of 0.09%. Ingersoll Rand's payout ratio is presently 3.96%.

Ingersoll Rand announced that its board has initiated a stock repurchase plan on Thursday, May 1st that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the industrial products company to repurchase up to 3.3% 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.

Insider Buying and Selling at Ingersoll Rand

In related news, insider Vicente Reynal sold 38,657 shares of Ingersoll Rand 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 directly owned 193,186 shares of the company's stock, valued at approximately $16,040,233.58. The trade was a 16.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Elizabeth Meloy Hepding sold 3,500 shares of Ingersoll Rand stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $83.78, for a total transaction of $293,230.00. Following the transaction, the insider directly owned 10,986 shares of the company's stock, valued at approximately $920,407.08. This represents a 24.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.59% of the company's stock.

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.