California State Teachers Retirement System Sells 19,571 Shares of Ingersoll Rand Inc. (NYSE:IR)

California State Teachers Retirement System reduced its holdings in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 3.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 621,355 shares of the industrial products company's stock after selling 19,571 shares during the period. California State Teachers Retirement System owned about 0.15% of Ingersoll Rand worth $56,208,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of IR. Wealth Enhancement Advisory Services LLC boosted its stake in Ingersoll Rand by 46.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 20,615 shares of the industrial products company's stock worth $1,865,000 after purchasing an additional 6,507 shares during the period. Lansforsakringar Fondforvaltning AB publ acquired a new stake in shares of Ingersoll Rand in the fourth quarter valued at about $11,694,000. Dogwood Wealth Management LLC increased its holdings in Ingersoll Rand by 10.7% during the 4th quarter. Dogwood Wealth Management LLC now owns 5,767 shares of the industrial products company's stock valued at $522,000 after acquiring an additional 559 shares in the last quarter. Siemens Fonds Invest GmbH grew its holdings in shares of Ingersoll Rand by 243.7% during the fourth quarter. Siemens Fonds Invest GmbH now owns 15,221 shares of the industrial products company's stock worth $1,377,000 after buying an additional 10,792 shares in the last quarter. Finally, Park Square Financial Group LLC purchased a new stake in shares of Ingersoll Rand during the fourth quarter worth about $122,000. Hedge funds and other institutional investors own 95.27% of the company's stock.

Analyst Ratings Changes

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

Insider Buying and Selling

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

Ingersoll Rand Trading Down 0.6%

Shares of NYSE:IR traded down $0.48 during midday trading on Friday, hitting $81.67. 5,060,186 shares of the stock were exchanged, compared to its average volume of 2,609,983. The stock has a market capitalization of $32.95 billion, a price-to-earnings ratio of 39.65, a P/E/G 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 business's 50-day moving average price is $77.03 and its 200 day moving average price is $86.91. Ingersoll Rand Inc. has a 12 month low of $65.61 and a 12 month high of $106.03.

Ingersoll Rand (NYSE:IR - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.02). The business had revenue of $1.72 billion during the quarter, compared to analyst estimates 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 last year, the firm posted $0.78 earnings per share. Analysts predict that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Thursday, May 15th will be issued a dividend of $0.02 per share. 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 of Directors has authorized a share buyback program 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 programs are generally an indication that the company's board believes its shares are undervalued.

About Ingersoll Rand

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.