Sumitomo Mitsui Trust Group Inc. Has $75.91 Million Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 1.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 948,501 shares of the industrial products company's stock after selling 14,218 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.24% of Ingersoll Rand worth $75,909,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Global Wealth Strategies & Associates lifted its position in Ingersoll Rand by 325.0% in the 1st quarter. Global Wealth Strategies & Associates now owns 374 shares of the industrial products company's stock worth $30,000 after buying an additional 286 shares in the last quarter. Murphy & Mullick Capital Management Corp bought a new position in shares of Ingersoll Rand during the 4th quarter valued at $36,000. OFI Invest Asset Management bought a new position in shares of Ingersoll Rand during the 4th quarter valued at $38,000. Golden State Wealth Management LLC raised its holdings 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 acquiring an additional 313 shares during the period. Finally, Farmers & Merchants Investments Inc. raised its holdings in Ingersoll Rand by 54.4% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 488 shares of the industrial products company's stock worth $39,000 after acquiring an additional 172 shares during the period. 95.27% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Ingersoll Rand news, insider Elizabeth Meloy Hepding sold 3,500 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $83.78, for a total value of $293,230.00. Following the sale, the insider owned 10,986 shares in the company, valued at $920,407.08. This represents a 24.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Vicente Reynal sold 38,657 shares of the stock in a transaction dated 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 directly owned 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. Insiders own 0.68% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on IR shares. Stifel Nicolaus decreased their price target 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. Wells Fargo & Company raised their price target on shares of Ingersoll Rand from $86.00 to $95.00 and gave the stock an "overweight" rating in a research report on Tuesday. Barclays decreased their price target on shares of Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. 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 research report on Monday, May 5th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $98.70.

Ingersoll Rand Trading Up 2.4%

Shares of IR traded up $2.03 on Tuesday, reaching $85.21. 2,776,141 shares of the company's stock were exchanged, compared to its average volume of 2,547,863. The company has a current ratio of 2.38, a quick ratio of 1.76 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $34.38 billion, a P/E ratio of 42.18, a price-to-earnings-growth ratio of 3.35 and a beta of 1.44. The business has a 50 day moving average price of $80.61 and a two-hundred day moving average price of $83.63. 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 issued its quarterly earnings data on Thursday, May 1st. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.74 by ($0.02). The firm had revenue of $1.72 billion for 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 firm's revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.78 EPS. Research analysts anticipate that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

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

Ingersoll Rand Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Thursday, May 15th were given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date of this dividend was Thursday, May 15th. Ingersoll Rand's dividend payout ratio is presently 3.96%.

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.