Ingersoll Rand Inc. (NYSE:IR) Shares Sold by USS Investment Management Ltd

USS Investment Management Ltd trimmed its position in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 28.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 20,114 shares of the industrial products company's stock after selling 8,134 shares during the period. USS Investment Management Ltd's holdings in Ingersoll Rand were worth $1,820,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of 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 worth $1,789,376,000 after purchasing an additional 1,462,538 shares in the last quarter. Park Avenue Securities LLC lifted its holdings in Ingersoll Rand by 3.3% in the 4th quarter. Park Avenue Securities LLC now owns 4,288 shares of the industrial products company's stock valued at $388,000 after purchasing an additional 136 shares in the last quarter. Merit Financial Group LLC acquired a new stake in Ingersoll Rand during the 4th quarter worth $229,000. UMB Bank n.a. grew its holdings 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 worth $54,000 after buying an additional 127 shares in the last quarter. Finally, Atomi Financial Group Inc. acquired a new stake in shares of Ingersoll Rand in the fourth quarter valued at about $226,000. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Ingersoll Rand

In other news, insider Elizabeth Meloy Hepding sold 3,500 shares of Ingersoll Rand stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $83.78, for a total value of $293,230.00. Following the completion of the transaction, the insider now owns 10,986 shares in the company, valued at approximately $920,407.08. This trade represents a 24.16% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Vicente Reynal sold 38,657 shares of the company's stock in a transaction that occurred 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 sale, the insider now 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. 0.68% of the stock is currently owned by company insiders.

Ingersoll Rand Trading Down 0.9%

Shares of Ingersoll Rand stock traded down $0.75 on Wednesday, reaching $81.85. The company had a trading volume of 2,367,181 shares, compared to its average volume of 2,607,224. 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 cap of $33.02 billion, a PE ratio of 39.73, a PEG ratio of 3.50 and a beta of 1.42. The firm's 50 day moving average price is $77.03 and its two-hundred day moving average price is $87.26. Ingersoll Rand Inc. has a 52-week low of $65.61 and a 52-week high of $106.03.

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 analysts' consensus estimates of $0.74 by ($0.02). Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. The firm had revenue of $1.72 billion during the quarter, compared to analysts' expectations of $1.73 billion. During the same period in the previous year, the firm earned $0.78 EPS. The firm's revenue for the quarter was up 2.8% compared to the same quarter last year. Sell-side analysts predict that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand declared that its board has approved a stock repurchase program on Thursday, May 1st that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the industrial products company to reacquire up to 3.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company's leadership believes its stock is undervalued.

Ingersoll Rand Dividend Announcement

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

Wall Street Analysts Forecast Growth

IR has been the subject of several research reports. Wells Fargo & Company upped their price objective on shares of Ingersoll Rand from $80.00 to $86.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Stifel Nicolaus cut their price target on Ingersoll Rand from $94.00 to $77.00 and set a "hold" rating for the company in a report on Monday, April 14th. Evercore ISI dropped their target price on Ingersoll Rand from $100.00 to $91.00 and set an "in-line" rating for the company in a report on Wednesday, February 19th. Citigroup lifted their price target on Ingersoll Rand from $88.00 to $91.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Finally, Robert W. Baird raised their price objective on shares of Ingersoll Rand from $105.00 to $111.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Ingersoll Rand presently has a consensus rating of "Moderate Buy" and a consensus target price of $98.91.

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.