Strs Ohio Trims Stake in Ingersoll Rand Inc. (NYSE:IR)

Strs Ohio reduced its position in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 8.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 729,784 shares of the industrial products company's stock after selling 65,186 shares during the period. Strs Ohio owned about 0.18% of Ingersoll Rand worth $56,441,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. OFI Invest Asset Management acquired a new position in shares of Ingersoll Rand during the third quarter worth about $25,000. ANTIPODES PARTNERS Ltd acquired a new position in shares of Ingersoll Rand during the 4th quarter worth approximately $27,000. Quintet Private Bank Europe S.A. acquired a new position in shares of Ingersoll Rand during the 3rd quarter worth approximately $28,000. Lazard Asset Management LLC increased its position in shares of Ingersoll Rand by 1,566.7% during the 2nd quarter. Lazard Asset Management LLC now owns 450 shares of the industrial products company's stock worth $29,000 after purchasing an additional 423 shares during the last quarter. Finally, Clearstead Advisors LLC increased its position in shares of Ingersoll Rand by 348.2% during the 3rd quarter. Clearstead Advisors LLC now owns 493 shares of the industrial products company's stock worth $31,000 after purchasing an additional 383 shares during the last quarter. 95.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on IR shares. Barclays boosted their price target on Ingersoll Rand from $101.00 to $105.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 2nd. Stifel Nicolaus reissued a "buy" rating and set a $102.00 target price on shares of Ingersoll Rand in a report on Tuesday, March 26th. Wells Fargo & Company boosted their target price on Ingersoll Rand from $83.00 to $100.00 and gave the stock an "overweight" rating in a report on Tuesday, February 20th. UBS Group boosted their target price on Ingersoll Rand from $78.00 to $93.00 and gave the stock a "buy" rating in a report on Monday, January 29th. Finally, Cfra boosted their target price on Ingersoll Rand from $68.00 to $85.00 and gave the stock a "hold" rating in a report on Friday, February 16th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $92.73.

Ingersoll Rand Price Performance

Shares of NYSE:IR traded down $0.65 during trading on Monday, reaching $91.27. 1,562,097 shares of the company traded hands, compared to its average volume of 2,487,679. The company's 50 day moving average is $90.87 and its two-hundred day moving average is $78.16. The firm has a market capitalization of $36.82 billion, a PE ratio of 48.04, a PEG ratio of 3.20 and a beta of 1.44. The company has a quick ratio of 1.67, a current ratio of 2.22 and a debt-to-equity ratio of 0.27. Ingersoll Rand Inc. has a 52 week low of $53.24 and a 52 week high of $96.17.

Ingersoll Rand (NYSE:IR - Get Free Report) last released its earnings results on Thursday, February 15th. The industrial products company reported $0.83 earnings per share for the quarter, beating analysts' consensus estimates of $0.74 by $0.09. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.76 billion. Ingersoll Rand had a return on equity of 12.24% and a net margin of 11.32%. As a group, sell-side analysts predict that Ingersoll Rand Inc. will post 3.1 earnings per share for the current year.

Ingersoll Rand Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 7th were given a dividend of $0.02 per share. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Ingersoll Rand's dividend payout ratio is currently 4.21%.

Insider Buying and Selling

In related news, CAO Michael J. Scheske sold 7,590 shares of the company's stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $88.00, for a total transaction of $667,920.00. Following the completion of the sale, the chief accounting officer now directly owns 9,715 shares in the company, valued at approximately $854,920. The sale was disclosed in a filing with the SEC, which is available through this link. In other Ingersoll Rand news, CAO Michael J. Scheske sold 7,590 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $88.00, for a total value of $667,920.00. Following the completion of the transaction, the chief accounting officer now directly owns 9,715 shares in the company, valued at $854,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Andrew R. Schiesl sold 10,421 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $89.95, for a total value of $937,368.95. Following the completion of the transaction, the insider now owns 48,904 shares of the company's stock, valued at $4,398,914.80. The disclosure for this sale can be found here. Insiders sold a total of 293,011 shares of company stock worth $26,374,789 in the last ninety days. 0.83% of the stock is owned by insiders.

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.