Brown Advisory Inc. Cuts Position in Ingersoll Rand Inc. (NYSE:IR)

Brown Advisory Inc. lessened its holdings in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 63.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,733 shares of the industrial products company's stock after selling 9,992 shares during the period. Brown Advisory Inc.'s holdings in Ingersoll Rand were worth $459,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Fullcircle Wealth LLC increased its position in shares of Ingersoll Rand by 31.0% in the 1st quarter. Fullcircle Wealth LLC now owns 2,951 shares of the industrial products company's stock valued at $221,000 after acquiring an additional 698 shares during the period. Compass Wealth Management LLC increased its position in shares of Ingersoll Rand by 62.8% in the 1st quarter. Compass Wealth Management LLC now owns 355 shares of the industrial products company's stock valued at $28,000 after acquiring an additional 137 shares during the period. Concurrent Investment Advisors LLC increased its position in shares of Ingersoll Rand by 14.4% in the 1st quarter. Concurrent Investment Advisors LLC now owns 3,066 shares of the industrial products company's stock valued at $245,000 after acquiring an additional 385 shares during the period. HM Payson & Co. increased its position in shares of Ingersoll Rand by 7.3% in the 1st quarter. HM Payson & Co. now owns 9,504 shares of the industrial products company's stock valued at $761,000 after acquiring an additional 650 shares during the period. Finally, IFM Investors Pty Ltd increased its position in shares of Ingersoll Rand by 9.5% in the 1st quarter. IFM Investors Pty Ltd now owns 83,601 shares of the industrial products company's stock valued at $6,691,000 after acquiring an additional 7,242 shares during the period. Hedge funds and other institutional investors own 95.27% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on IR shares. Citigroup reaffirmed a "buy" rating and set a $104.00 price target (up from $91.00) on shares of Ingersoll Rand in a research report on Monday. Melius downgraded Ingersoll Rand from a "buy" rating to a "hold" rating and set a $93.00 price target on the stock. in a research report on Monday. Barclays increased their price target on Ingersoll Rand from $85.00 to $92.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 9th. Melius Research set a $93.00 price target on Ingersoll Rand in a research report on Monday. Finally, Stifel Nicolaus dropped their target price on Ingersoll Rand from $94.00 to $77.00 and set a "hold" rating on the stock in a research report on Monday, April 14th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $99.42.

Ingersoll Rand Price Performance

IR stock traded down $0.18 during trading on Wednesday, hitting $86.12. The stock had a trading volume of 2,654,313 shares, compared to its average volume of 2,586,278. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.38 and a quick ratio of 1.76. Ingersoll Rand Inc. has a twelve month low of $65.61 and a twelve month high of $106.03. The stock has a market capitalization of $34.75 billion, a P/E ratio of 42.64, a PEG ratio of 3.70 and a beta of 1.43. The company's 50-day moving average price is $83.25 and its two-hundred day moving average price is $83.22.

Ingersoll Rand (NYSE:IR - Get Free Report) last released 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 analysts' expectations of $1.73 billion. Ingersoll Rand had a return on equity of 12.33% and a net margin of 11.30%. The company's revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period last year, the business earned $0.78 earnings per share. As a group, research analysts predict that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Thursday, May 15th were given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. The ex-dividend date of this dividend was Thursday, May 15th. Ingersoll Rand's payout ratio is presently 3.96%.

Ingersoll Rand announced that its Board of Directors has initiated a share repurchase plan on Thursday, May 1st that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the industrial products company to buy up to 3.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Insider Activity at Ingersoll Rand

In other Ingersoll Rand news, insider Vicente Reynal sold 38,657 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $83.03, for a total value of $3,209,690.71. Following the sale, the insider owned 193,186 shares of the company's stock, valued at $16,040,233.58. The trade was a 16.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Elizabeth Meloy Hepding sold 3,500 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $83.78, for a total value of $293,230.00. Following the completion of the sale, the insider directly owned 10,986 shares in the company, valued at approximately $920,407.08. The trade was a 24.16% decrease in their position. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by insiders.

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.