Ingersoll Rand Inc. (NYSE:IR) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC trimmed its holdings in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 14.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,132,754 shares of the industrial products company's stock after selling 533,889 shares during the quarter. Nuveen Asset Management LLC owned 0.78% of Ingersoll Rand worth $283,389,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Savant Capital LLC boosted its position in shares of Ingersoll Rand by 2.3% during the fourth quarter. Savant Capital LLC now owns 6,938 shares of the industrial products company's stock worth $628,000 after buying an additional 158 shares during the period. abrdn plc lifted its stake in Ingersoll Rand by 70.5% during the 4th quarter. abrdn plc now owns 262,863 shares of the industrial products company's stock worth $23,851,000 after acquiring an additional 108,700 shares in the last quarter. AdvisorNet Financial Inc boosted its holdings in Ingersoll Rand by 441.4% during the 4th quarter. AdvisorNet Financial Inc now owns 18,652 shares of the industrial products company's stock valued at $1,687,000 after acquiring an additional 15,207 shares during the period. tru Independence LLC purchased a new position in Ingersoll Rand during the 4th quarter valued at about $291,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Ingersoll Rand by 8.0% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 70,506 shares of the industrial products company's stock valued at $6,378,000 after acquiring an additional 5,197 shares in the last quarter. 95.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on IR. Barclays reduced 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. Wells Fargo & Company raised their price target on shares of Ingersoll Rand from $80.00 to $86.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Robert W. Baird increased their price objective on Ingersoll Rand from $105.00 to $111.00 and gave the company an "outperform" rating in a research note on Tuesday, February 18th. Citigroup upped 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, Stifel Nicolaus decreased their price objective on Ingersoll Rand from $94.00 to $77.00 and set a "hold" rating for the company in a research note on Monday, April 14th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Ingersoll Rand presently has an average rating of "Moderate Buy" and an average price target of $98.91.

Ingersoll Rand Stock Down 0.7%

Shares of NYSE:IR traded down $0.56 on Tuesday, hitting $82.99. 427,477 shares of the company's stock were exchanged, compared to its average volume of 2,606,102. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.29. Ingersoll Rand Inc. has a 1-year low of $65.61 and a 1-year high of $106.03. The company has a market capitalization of $33.48 billion, a PE ratio of 40.27, a P/E/G ratio of 3.50 and a beta of 1.42. The firm's 50-day moving average is $77.06 and its 200 day moving average is $87.96.

Ingersoll Rand (NYSE:IR - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The industrial products company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.02). The company had revenue of $1.72 billion during the quarter, compared to analysts' expectations of $1.73 billion. Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. The business's revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.78 earnings per share. Sell-side analysts predict that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Announces Dividend

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

Ingersoll Rand announced that its board has approved a stock repurchase plan on Thursday, May 1st that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the industrial products company to reacquire up to 3.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its shares are undervalued.

Insider Transactions at Ingersoll Rand

In other news, insider Elizabeth Meloy Hepding sold 3,500 shares of the firm's stock in a transaction that occurred 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 transaction, the insider now directly owns 10,986 shares in the company, valued at approximately $920,407.08. This trade represents a 24.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.59% of the company's stock.

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.