UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 1,431,718 Shares of Ingersoll Rand Inc. (NYSE:IR)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 25.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 4,210,478 shares of the industrial products company's stock after selling 1,431,718 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 1.04% of Ingersoll Rand worth $380,880,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in shares of Ingersoll Rand by 8.7% during the third quarter. JPMorgan Chase & Co. now owns 18,229,178 shares of the industrial products company's stock valued at $1,789,376,000 after buying an additional 1,462,538 shares during the period. Park Avenue Securities LLC increased its position in shares of Ingersoll Rand by 3.3% during the fourth quarter. Park Avenue Securities LLC now owns 4,288 shares of the industrial products company's stock valued at $388,000 after buying an additional 136 shares during the period. Merit Financial Group LLC bought a new stake in shares of Ingersoll Rand during the fourth quarter valued at about $229,000. HB Wealth Management LLC increased its position in shares of Ingersoll Rand by 6.8% during the fourth quarter. HB Wealth Management LLC now owns 8,008 shares of the industrial products company's stock valued at $724,000 after buying an additional 513 shares during the period. Finally, UMB Bank n.a. increased its position in shares of Ingersoll Rand by 27.0% during the fourth quarter. UMB Bank n.a. now owns 598 shares of the industrial products company's stock valued at $54,000 after buying an additional 127 shares during the period. 95.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Citigroup upped their price target on Ingersoll Rand from $88.00 to $91.00 and gave the company a "buy" rating in a research report on Monday, May 5th. Wells Fargo & Company upped their price target on Ingersoll Rand from $80.00 to $86.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Barclays decreased their price target 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. Stifel Nicolaus decreased their price target on 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, Robert W. Baird upped their price target on Ingersoll Rand from $105.00 to $111.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $98.91.

Insiders Place Their Bets

In other news, insider Elizabeth Meloy Hepding sold 3,500 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 10,986 shares of the company's stock, valued at approximately $920,407.08. This represents a 24.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.59% of the stock is owned by insiders.

Ingersoll Rand Stock Down 0.8%

Shares of IR opened at $82.92 on Wednesday. The firm has a market cap of $33.46 billion, a P/E ratio of 40.25, a P/E/G ratio of 3.50 and a beta of 1.42. The stock has a 50 day simple moving average of $77.12 and a two-hundred day simple moving average of $87.92. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.29 and a quick ratio of 1.71. Ingersoll Rand Inc. has a 1 year low of $65.61 and a 1 year high of $106.03.

Ingersoll Rand (NYSE:IR - Get Free Report) last issued 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 firm had revenue of $1.72 billion during the quarter, compared to analysts' expectations of $1.73 billion. Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. The firm's quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.78 EPS. On average, analysts forecast that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 15th will be paid a $0.02 dividend. 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 announced that its board has authorized a share 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 reacquire up to 3.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's board believes its stock is undervalued.

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.

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