Banque Pictet & Cie SA Sells 8,200 Shares of Ingersoll Rand Inc. (NYSE:IR)

Banque Pictet & Cie SA lessened its holdings in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 66.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,200 shares of the industrial products company's stock after selling 8,200 shares during the period. Banque Pictet & Cie SA's holdings in Ingersoll Rand were worth $336,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of IR. Compass Wealth Management LLC lifted its position in Ingersoll Rand by 62.8% during the 1st quarter. Compass Wealth Management LLC now owns 355 shares of the industrial products company's stock worth $28,000 after acquiring an additional 137 shares during the last quarter. Global Wealth Strategies & Associates lifted its position in Ingersoll Rand by 325.0% during the 1st quarter. Global Wealth Strategies & Associates now owns 374 shares of the industrial products company's stock worth $30,000 after acquiring an additional 286 shares during the last quarter. Murphy & Mullick Capital Management Corp acquired a new position in Ingersoll Rand during the 4th quarter worth $36,000. Golden State Wealth Management LLC lifted its position in Ingersoll Rand by 190.9% during the 1st quarter. Golden State Wealth Management LLC now owns 477 shares of the industrial products company's stock worth $38,000 after acquiring an additional 313 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. lifted its position in Ingersoll Rand by 54.4% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 488 shares of the industrial products company's stock worth $39,000 after acquiring an additional 172 shares during the last quarter. Institutional investors and hedge funds own 95.27% of the company's stock.

Ingersoll Rand Price Performance

NYSE IR traded up $0.32 on Friday, reaching $89.01. The company's stock had a trading volume of 2,286,802 shares, compared to its average volume of 2,589,235. The firm has a market cap of $35.91 billion, a PE ratio of 44.06, a price-to-earnings-growth ratio of 3.74 and a beta of 1.43. The business has a 50-day moving average price of $82.58 and a 200 day moving average price of $83.37. Ingersoll Rand Inc. has a 52 week low of $65.61 and a 52 week high of $106.03. The company has a current ratio of 2.38, a quick ratio of 1.76 and a debt-to-equity ratio of 0.45.

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 for the quarter, missing analysts' consensus estimates of $0.74 by ($0.02). The business 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 11.30% and a return on equity of 12.33%. The business's revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $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 firm also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 15th were paid a $0.02 dividend. The ex-dividend date was Thursday, May 15th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. Ingersoll Rand's payout ratio is currently 3.96%.

Ingersoll Rand announced that its Board of Directors has authorized a stock buyback program on Thursday, May 1st that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the industrial products company to purchase up to 3.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Citigroup boosted their target price 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. Barclays upped their price objective on shares of Ingersoll Rand from $85.00 to $92.00 and gave the company an "overweight" rating in a research report on Wednesday. Stifel Nicolaus cut their price objective on shares of Ingersoll Rand from $94.00 to $77.00 and set a "hold" rating for the company in a research report on Monday, April 14th. Finally, Wells Fargo & Company upped their price objective on shares of Ingersoll Rand from $86.00 to $95.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $99.40.

Insider Transactions at Ingersoll Rand

In other Ingersoll Rand 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 transaction of $293,230.00. Following the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Vicente Reynal sold 38,657 shares of the company's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $83.03, for a total transaction of $3,209,690.71. Following the sale, the insider directly owned 193,186 shares in the company, valued at $16,040,233.58. This represents a 16.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.59% of the company's stock.

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.