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

New York State Teachers Retirement System trimmed its holdings in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 5.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 324,419 shares of the industrial products company's stock after selling 18,176 shares during the quarter. New York State Teachers Retirement System owned about 0.08% of Ingersoll Rand worth $25,963,000 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. Norges Bank acquired a new position in shares of Ingersoll Rand in the 4th quarter valued at $429,591,000. Capital International Investors lifted its position in Ingersoll Rand by 4.6% in the fourth quarter. Capital International Investors now owns 36,673,865 shares of the industrial products company's stock valued at $3,317,537,000 after acquiring an additional 1,606,363 shares during the last quarter. FMR LLC boosted its stake in Ingersoll Rand by 8.2% in the fourth quarter. FMR LLC now owns 17,472,317 shares of the industrial products company's stock valued at $1,580,546,000 after acquiring an additional 1,320,223 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Ingersoll Rand by 7,137.0% during the first quarter. GAMMA Investing LLC now owns 1,307,370 shares of the industrial products company's stock worth $1,046,290,000 after purchasing an additional 1,289,305 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Ingersoll Rand by 5.9% during the fourth quarter. Franklin Resources Inc. now owns 12,277,177 shares of the industrial products company's stock worth $1,110,593,000 after purchasing an additional 679,856 shares during the last quarter. Institutional investors and hedge funds own 95.27% of the company's stock.

Insider Buying and Selling

In other Ingersoll Rand news, insider Elizabeth Meloy Hepding sold 3,500 shares of the business's stock in a transaction 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 sale, the insider directly owned 10,986 shares in the company, valued at approximately $920,407.08. The trade was a 24.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Vicente Reynal sold 38,657 shares of the company's stock in a transaction 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 transaction, the insider directly owned 193,186 shares in the company, valued at approximately $16,040,233.58. This trade represents a 16.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by insiders.

Ingersoll Rand Stock Performance

Shares of NYSE:IR traded up $1.16 during trading on Wednesday, reaching $86.46. The company had a trading volume of 2,594,509 shares, compared to its average volume of 2,552,867. Ingersoll Rand Inc. has a fifty-two week low of $65.61 and a fifty-two week high of $106.03. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.38 and a quick ratio of 1.76. The stock's fifty day moving average price is $80.87 and its 200 day moving average price is $83.64. The firm has a market capitalization of $34.88 billion, a price-to-earnings ratio of 42.80, a price-to-earnings-growth ratio of 3.31 and a beta of 1.43.

Ingersoll Rand (NYSE:IR - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.73 billion. Ingersoll Rand had a net margin of 11.30% and a return on equity of 12.33%. The business's quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.78 earnings per share. As a group, equities research analysts predict that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand declared that its Board of Directors has authorized a stock repurchase program on Thursday, May 1st that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to repurchase up to 3.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.

Ingersoll Rand Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 15th were issued a dividend of $0.02 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.08 annualized dividend and a yield of 0.09%. Ingersoll Rand's dividend payout ratio is currently 3.96%.

Analysts Set New Price Targets

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

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.