Natixis Advisors LLC Decreases Stake in Ingersoll Rand Inc. (NYSE:IR)

Key Points

• Natixis Advisors LLC has reduced its stake in Ingersoll Rand Inc. by 19.0%, holding 123,261 shares valued at $9,865,000 after selling 28,933 shares during the 1st quarter.
• Ingersoll Rand reported earnings per share of $0.80 for the quarter ending July 31st, matching analysts' expectations and showing a 4.6% year-over-year revenue increase.
• The company also announced a $1.00 billion share repurchase plan, indicating confidence in its stock's value, and declared a quarterly dividend of $0.02 per share.

Natixis Advisors LLC reduced its stake in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 19.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 123,261 shares of the industrial products company's stock after selling 28,933 shares during the quarter. Natixis Advisors LLC's holdings in Ingersoll Rand were worth $9,865,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN raised its holdings in shares of Ingersoll Rand by 1.6% in the 4th quarter. Wells Fargo & Company MN now owns 423,233 shares of the industrial products company's stock valued at $38,286,000 after purchasing an additional 6,641 shares during the period. Resona Asset Management Co. Ltd. bought a new stake in shares of Ingersoll Rand in the 4th quarter valued at about $11,024,000. Wedbush Securities Inc. raised its holdings in shares of Ingersoll Rand by 38.2% in the 4th quarter. Wedbush Securities Inc. now owns 9,100 shares of the industrial products company's stock valued at $823,000 after purchasing an additional 2,516 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of Ingersoll Rand by 9.7% in the 4th quarter. Envestnet Asset Management Inc. now owns 285,339 shares of the industrial products company's stock valued at $25,812,000 after purchasing an additional 25,128 shares during the period. Finally, Titleist Asset Management LLC bought a new stake in shares of Ingersoll Rand in the 4th quarter valued at about $286,000. 95.27% of the stock is owned by institutional investors.

Ingersoll Rand Price Performance

IR traded down $0.86 during trading hours on Tuesday, hitting $77.74. The company's stock had a trading volume of 4,172,648 shares, compared to its average volume of 3,392,907. The company has a current ratio of 2.29, a quick ratio of 1.63 and a debt-to-equity ratio of 0.47. Ingersoll Rand Inc. has a 12 month low of $65.61 and a 12 month high of $106.03. The stock has a market cap of $30.90 billion, a price-to-earnings ratio of 60.73, a P/E/G ratio of 3.30 and a beta of 1.41. The business's 50-day moving average price is $84.15 and its 200-day moving average price is $82.68.

Ingersoll Rand (NYSE:IR - Get Free Report) last issued its earnings results on Thursday, July 31st. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $1.85 billion. During the same period in the previous year, the firm earned $0.83 earnings per share. The business's revenue was up 4.6% on a year-over-year basis. Sell-side analysts expect that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 14th will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend is Thursday, August 14th. Ingersoll Rand's dividend payout ratio (DPR) is presently 6.25%.

Ingersoll Rand announced that its board has initiated a share repurchase 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 buy up to 3.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

Several analysts recently issued reports on IR shares. Melius Research set a $93.00 price target on shares of Ingersoll Rand in a research report on Monday, July 14th. Wells Fargo & Company raised their target price 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. Citigroup restated a "buy" rating and issued a $104.00 target price (up previously from $91.00) on shares of Ingersoll Rand in a research report on Monday, July 14th. Barclays cut their target price on shares of Ingersoll Rand from $92.00 to $91.00 and set an "overweight" rating on the stock in a research report on Monday. Finally, Stifel Nicolaus cut their target price on shares of Ingersoll Rand from $95.00 to $78.00 and set a "hold" rating on the stock in a research report on Monday. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $98.75.

Insider Activity at Ingersoll Rand

In related news, insider Elizabeth Meloy Hepding sold 3,500 shares of the 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 transaction, the insider owned 10,986 shares in the company, valued at approximately $920,407.08. This represents a 24.16% decrease in their position. 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 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 completion of the transaction, the insider owned 193,186 shares in the company, valued at approximately $16,040,233.58. This trade represents a 16.67% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.68% 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.