Ingersoll Rand Inc. (NYSE:IR) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp reduced its holdings in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 4.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 241,648 shares of the industrial products company's stock after selling 10,036 shares during the quarter. Mackenzie Financial Corp owned 0.06% of Ingersoll Rand worth $21,859,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp bought a new stake in Ingersoll Rand in the fourth quarter worth about $36,000. OFI Invest Asset Management acquired a new stake in Ingersoll Rand during the fourth quarter valued at $38,000. Lee Danner & Bass Inc. bought a new stake in shares of Ingersoll Rand in the 4th quarter valued at approximately $42,000. Ancora Advisors LLC boosted its stake in shares of Ingersoll Rand by 144.8% during the 4th quarter. Ancora Advisors LLC now owns 497 shares of the industrial products company's stock worth $45,000 after acquiring an additional 294 shares in the last quarter. Finally, Millstone Evans Group LLC acquired a new position in Ingersoll Rand during the 4th quarter worth $50,000. 95.27% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Elizabeth Meloy Hepding sold 3,500 shares of the company's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $83.78, for a total transaction of $293,230.00. Following the completion of the transaction, the insider now directly owns 10,986 shares of the company's stock, valued at approximately $920,407.08. This represents a 24.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Vicente Reynal sold 38,657 shares of Ingersoll Rand stock in a transaction 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 now directly owns 193,186 shares in the company, valued at $16,040,233.58. The trade was a 16.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on IR shares. Evercore ISI decreased their price target on Ingersoll Rand from $100.00 to $91.00 and set an "in-line" rating on the stock in a research note on Wednesday, February 19th. Wells Fargo & Company lifted their price objective on Ingersoll Rand from $80.00 to $86.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Citigroup raised their target price 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. Stifel Nicolaus cut their price objective on Ingersoll Rand from $94.00 to $77.00 and set a "hold" rating for the company in a research report on Monday, April 14th. Finally, Barclays lowered their price objective on Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $98.91.

Ingersoll Rand Stock Performance

Shares of IR stock traded down $0.48 during mid-day trading on Friday, reaching $81.67. 5,060,186 shares of the company's stock traded hands, compared to its average volume of 2,606,202. The firm has a 50 day moving average price of $77.03 and a two-hundred day moving average price of $86.79. 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 firm has a market capitalization of $32.95 billion, a PE ratio of 39.65, a price-to-earnings-growth ratio of 3.50 and a beta of 1.42. 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 released its earnings results on Thursday, May 1st. The industrial products company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.02). The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.73 billion. Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. The business's revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.78 EPS. On average, research analysts forecast that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand announced that its Board of Directors has approved a stock buyback program on Thursday, May 1st that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the industrial products company to buy up to 3.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Ingersoll Rand Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Thursday, May 15th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.10%. The ex-dividend date is Thursday, May 15th. Ingersoll Rand's dividend payout ratio is currently 3.96%.

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.