Ingersoll Rand Inc. (NYSE:IR) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund cut its position in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 8.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 228,286 shares of the industrial products company's stock after selling 20,562 shares during the period. New York State Common Retirement Fund owned approximately 0.06% of Ingersoll Rand worth $18,270,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Compass Wealth Management LLC raised its holdings in Ingersoll Rand by 62.8% during the 1st quarter. Compass Wealth Management LLC now owns 355 shares of the industrial products company's stock valued at $28,000 after buying an additional 137 shares during the period. Global Wealth Strategies & Associates boosted its stake in shares of Ingersoll Rand by 325.0% during the 1st quarter. Global Wealth Strategies & Associates now owns 374 shares of the industrial products company's stock worth $30,000 after purchasing an additional 286 shares during the period. Murphy & Mullick Capital Management Corp bought a new position in Ingersoll Rand during the 4th quarter valued at about $36,000. Golden State Wealth Management LLC raised its position in Ingersoll Rand by 190.9% in the 1st quarter. Golden State Wealth Management LLC now owns 477 shares of the industrial products company's stock worth $38,000 after purchasing an additional 313 shares during the period. Finally, Farmers & Merchants Investments Inc. lifted its stake in Ingersoll Rand by 54.4% in the first quarter. Farmers & Merchants Investments Inc. now owns 488 shares of the industrial products company's stock worth $39,000 after purchasing an additional 172 shares during the last quarter. 95.27% of the stock is owned by institutional investors.

Ingersoll Rand Trading Down 2.5%

NYSE:IR traded down $2.20 during midday trading on Friday, hitting $85.55. The stock had a trading volume of 4,273,639 shares, compared to its average volume of 2,590,744. Ingersoll Rand Inc. has a one year low of $65.61 and a one year high of $106.03. The company has a market capitalization of $34.52 billion, a price-to-earnings ratio of 42.35, a PEG ratio of 3.63 and a beta of 1.43. The stock has a 50-day moving average of $83.59 and a 200 day moving average of $83.22. The company has a quick ratio of 1.76, a current ratio of 2.38 and a debt-to-equity ratio of 0.45.

Ingersoll Rand (NYSE:IR - Get Free Report) last announced its earnings results on Thursday, May 1st. The industrial products company reported $0.72 earnings per share (EPS) 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 11.30% and a return on equity of 12.33%. The firm's revenue was up 2.8% compared to the same quarter last year. During the same period last year, the business posted $0.78 EPS. As a group, sell-side analysts forecast that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Thursday, May 15th were given a dividend of $0.02 per share. The ex-dividend date was Thursday, May 15th. This represents a $0.08 annualized dividend and a yield of 0.09%. Ingersoll Rand's dividend payout ratio (DPR) is presently 3.96%.

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Stifel Nicolaus reduced their price target on Ingersoll Rand from $94.00 to $77.00 and set a "hold" rating on the stock in a report on Monday, April 14th. Melius lowered Ingersoll Rand from a "buy" rating to a "hold" rating and set a $93.00 target price on the stock. in a research note on Monday. Melius Research set a $93.00 target price on shares of Ingersoll Rand in a research note on Monday. Barclays boosted their target price on shares of Ingersoll Rand from $85.00 to $92.00 and gave the company an "overweight" rating in a research note on Wednesday, July 9th. Finally, Citigroup reissued a "buy" rating and set a $104.00 target price (up from $91.00) on shares of Ingersoll Rand in a research note on Monday. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $99.42.

Insider Buying and Selling at Ingersoll Rand

In other Ingersoll Rand news, insider Elizabeth Meloy Hepding sold 3,500 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $83.78, for a total transaction of $293,230.00. Following the sale, the insider owned 10,986 shares of the company's stock, valued at approximately $920,407.08. This trade represents a 24.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Vicente Reynal sold 38,657 shares of the stock in a transaction 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 directly owned 193,186 shares in the company, valued at $16,040,233.58. This trade represents a 16.67% decrease in their position. The disclosure for this sale can be found here. 0.59% of the stock is currently 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.