KBC Group NV Sells 4,633 Shares of Ingersoll Rand Inc. (NYSE:IR)

KBC Group NV lessened its position in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 6.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 70,741 shares of the industrial products company's stock after selling 4,633 shares during the quarter. KBC Group NV's holdings in Ingersoll Rand were worth $5,661,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of IR. Norges Bank bought a new position in Ingersoll Rand during the fourth quarter worth about $429,591,000. Capital International Investors lifted its position in shares of Ingersoll Rand by 4.6% during the 4th quarter. Capital International Investors now owns 36,673,865 shares of the industrial products company's stock worth $3,317,537,000 after buying an additional 1,606,363 shares during the period. FMR LLC lifted its position in shares of Ingersoll Rand by 8.2% during the 4th quarter. FMR LLC now owns 17,472,317 shares of the industrial products company's stock worth $1,580,546,000 after buying an additional 1,320,223 shares during the period. GAMMA Investing LLC boosted its stake in Ingersoll Rand by 7,137.0% in the 1st quarter. GAMMA Investing LLC now owns 1,307,370 shares of the industrial products company's stock valued at $1,046,290,000 after buying an additional 1,289,305 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in Ingersoll Rand by 5.9% in the fourth quarter. Franklin Resources Inc. now owns 12,277,177 shares of the industrial products company's stock valued at $1,110,593,000 after acquiring an additional 679,856 shares during the period. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Ingersoll Rand Price Performance

NYSE:IR traded up $0.46 during mid-day trading on Friday, reaching $87.01. 1,240,577 shares of the company were exchanged, compared to its average volume of 2,560,986. The company has a quick ratio of 1.76, a current ratio of 2.38 and a debt-to-equity ratio of 0.45. The stock has a market cap of $35.10 billion, a PE ratio of 43.07, a PEG ratio of 3.67 and a beta of 1.43. Ingersoll Rand Inc. has a 12 month low of $65.61 and a 12 month high of $106.03. The company has a fifty day moving average of $81.60 and a 200 day moving average of $83.50.

Ingersoll Rand (NYSE:IR - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The industrial products company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.02). Ingersoll Rand had a net margin of 11.30% and a return on equity of 12.33%. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period last year, the company earned $0.78 earnings per share. Ingersoll Rand's revenue for the quarter was up 2.8% compared to the same quarter last year. On average, research analysts anticipate that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Thursday, May 15th were paid 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 dividend payout ratio (DPR) is presently 3.96%.

Ingersoll Rand announced that its Board of Directors has approved a stock repurchase plan on Thursday, May 1st that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the industrial products company to reacquire up to 3.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Citigroup lifted their price objective on Ingersoll Rand from $88.00 to $91.00 and gave the company a "buy" rating in a report on Monday, May 5th. Barclays dropped their target price on shares of Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Wells Fargo & Company boosted their price target on shares of Ingersoll Rand from $86.00 to $95.00 and gave the company an "overweight" rating in a research report on Tuesday. Finally, Stifel Nicolaus decreased their price objective on shares of Ingersoll Rand from $94.00 to $77.00 and set a "hold" rating on the stock in a research note on Monday, April 14th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $98.70.

Insider Activity

In related news, 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 transaction of $293,230.00. Following the completion of the sale, the insider directly owned 10,986 shares of the company's stock, valued at $920,407.08. The trade was a 24.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Vicente Reynal sold 38,657 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were 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 $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. 0.59% of the stock is owned by company 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.