Zurcher Kantonalbank Zurich Cantonalbank Purchases 10,406 Shares of Ingersoll Rand Inc. (NYSE:IR)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 5.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 202,557 shares of the industrial products company's stock after buying an additional 10,406 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.05% of Ingersoll Rand worth $16,211,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Teacher Retirement System of Texas raised its holdings in shares of Ingersoll Rand by 39.8% during the 4th quarter. Teacher Retirement System of Texas now owns 3,777 shares of the industrial products company's stock valued at $342,000 after purchasing an additional 1,075 shares in the last quarter. Brown Brothers Harriman & Co. increased its holdings in shares of Ingersoll Rand by 73.8% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,455 shares of the industrial products company's stock worth $132,000 after purchasing an additional 618 shares during the period. Schroder Investment Management Group lifted its stake in Ingersoll Rand by 16.6% during the fourth quarter. Schroder Investment Management Group now owns 34,374 shares of the industrial products company's stock worth $3,112,000 after purchasing an additional 4,888 shares during the period. Clearbridge Investments LLC lifted its stake in Ingersoll Rand by 20.7% during the fourth quarter. Clearbridge Investments LLC now owns 55,709 shares of the industrial products company's stock worth $5,039,000 after purchasing an additional 9,545 shares during the period. Finally, O Shaughnessy Asset Management LLC boosted its position in Ingersoll Rand by 12.3% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 21,633 shares of the industrial products company's stock valued at $1,957,000 after buying an additional 2,371 shares in the last quarter. Institutional investors and hedge funds own 95.27% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Melius Research set a $93.00 target price on shares of Ingersoll Rand in a research report on Monday, July 14th. Stifel Nicolaus increased their target price on shares of Ingersoll Rand from $78.00 to $95.00 and gave the stock a "hold" rating in a report on Monday, July 21st. Melius lowered shares of Ingersoll Rand from a "buy" rating to a "hold" rating and set a $93.00 target price on the stock. in a report on Monday, July 14th. Wells Fargo & Company increased 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. Finally, Barclays increased their target price on shares of Ingersoll Rand from $85.00 to $92.00 and gave the stock an "overweight" rating in a report on Wednesday, July 9th. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $100.92.

Ingersoll Rand Stock Down 11.3%

IR traded down $9.54 during trading on Friday, hitting $75.09. 12,246,097 shares of the company's stock were exchanged, compared to its average volume of 2,696,997. 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 business's 50 day moving average is $84.19 and its two-hundred day moving average is $82.88. Ingersoll Rand Inc. has a fifty-two week low of $65.61 and a fifty-two week high of $106.03. The stock has a market cap of $30.30 billion, a P/E ratio of 58.66, a PEG ratio of 3.55 and a beta of 1.41.

Ingersoll Rand (NYSE:IR - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The industrial products company reported $0.80 earnings per share for the quarter, hitting the consensus estimate of $0.80. The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.85 billion. Ingersoll Rand had a net margin of 7.10% and a return on equity of 12.06%. The business's revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.83 earnings per share. As a group, equities 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 issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date is Thursday, August 14th. Ingersoll Rand's dividend payout ratio (DPR) is 6.25%.

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

Insider Transactions at Ingersoll Rand

In other news, insider Vicente Reynal sold 38,657 shares of the business's stock in a transaction that occurred on 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 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 transaction 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. This trade represents a 24.16% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.59% of the company's stock.

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.