Gulf International Bank UK Ltd Sells 8,078 Shares of Ingersoll Rand Inc. $IR

Key Points

• Gulf International Bank UK Ltd reduced its stake in Ingersoll Rand Inc. by 25.5%, now holding shares valued at approximately $1.89 million.
• Ingersoll Rand's recent earnings report showed EPS of $0.80, meeting analysts' expectations, with revenue rising 4.6% year-over-year.
• The company has announced a quarterly dividend of $0.02 per share, reflecting an annualized yield of 0.1%, along with a buyback plan to repurchase up to $1 billion in shares.

Gulf International Bank UK Ltd lowered its position in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 25.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,580 shares of the industrial products company's stock after selling 8,078 shares during the period. Gulf International Bank UK Ltd's holdings in Ingersoll Rand were worth $1,887,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Sowell Financial Services LLC bought a new position in shares of Ingersoll Rand in the first quarter valued at approximately $262,000. Concurrent Investment Advisors LLC increased its holdings in shares of Ingersoll Rand by 14.4% in the first quarter. Concurrent Investment Advisors LLC now owns 3,066 shares of the industrial products company's stock valued at $245,000 after purchasing an additional 385 shares in the last quarter. QRG Capital Management Inc. raised its position in Ingersoll Rand by 9.4% in the 1st quarter. QRG Capital Management Inc. now owns 7,669 shares of the industrial products company's stock worth $614,000 after purchasing an additional 660 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Ingersoll Rand by 14.5% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 726,564 shares of the industrial products company's stock worth $58,147,000 after purchasing an additional 91,777 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC raised its position in Ingersoll Rand by 19.7% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 11,823 shares of the industrial products company's stock worth $946,000 after purchasing an additional 1,948 shares during the last quarter. Institutional investors own 95.27% of the company's stock.

Wall Street Analyst Weigh In

IR has been the subject of several research analyst reports. Melius cut shares of Ingersoll Rand from a "buy" rating to a "hold" rating and set a $93.00 price objective for the company. in a research report on Monday, July 14th. Barclays lowered their target price on shares of Ingersoll Rand from $92.00 to $91.00 and set an "overweight" rating for the company in a report on Monday, August 4th. Morgan Stanley lowered their target price on shares of Ingersoll Rand from $88.00 to $85.00 and set an "equal weight" rating for the company in a report on Wednesday, August 13th. Stifel Nicolaus set a $78.00 target price on shares of Ingersoll Rand and gave the stock a "hold" rating in a report on Monday, August 4th. Finally, Wells Fargo & Company lifted their target price on shares of Ingersoll Rand from $86.00 to $95.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $97.75.

Ingersoll Rand Stock Up 0.9%

NYSE IR traded up $0.68 on Monday, reaching $79.00. The company had a trading volume of 2,286,115 shares, compared to its average volume of 2,967,570. The firm has a market capitalization of $31.40 billion, a price-to-earnings ratio of 61.72, a price-to-earnings-growth ratio of 4.42 and a beta of 1.41. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.63 and a current ratio of 2.29. Ingersoll Rand Inc. has a 1-year low of $65.61 and a 1-year high of $106.03. The company's fifty day moving average is $83.40 and its 200-day moving average is $81.74.

Ingersoll Rand (NYSE:IR - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The industrial products company reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. Ingersoll Rand had a net margin of 7.10% and a return on equity of 12.12%. The firm had revenue of $1.89 billion for the quarter, compared to analysts' expectations of $1.85 billion. During the same period in the previous year, the firm posted $0.83 EPS. The company's revenue for the quarter was up 4.6% on a year-over-year basis. On average, research analysts forecast that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th will be issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Thursday, August 14th. Ingersoll Rand's dividend payout ratio is presently 6.25%.

Ingersoll Rand declared that its board has authorized a stock buyback plan on Thursday, May 1st that authorizes the company to repurchase $1.00 billion in outstanding 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 generally an indication that the company's leadership believes its shares are undervalued.

Insider Activity

In other news, 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 value of $3,209,690.71. Following the sale, the insider directly owned 193,186 shares of the company's stock, valued at approximately $16,040,233.58. This represents a 16.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.59% of the company's stock.

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.