Zurcher Kantonalbank Zurich Cantonalbank Purchases 78,253 Shares of Ingersoll Rand Inc. (NYSE:IR)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 43.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 258,229 shares of the industrial products company's stock after purchasing an additional 78,253 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.06% of Ingersoll Rand worth $19,971,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. OFI Invest Asset Management acquired a new position in Ingersoll Rand in the 3rd quarter valued at $25,000. ANTIPODES PARTNERS Ltd acquired a new position in Ingersoll Rand in the 4th quarter valued at $27,000. Quintet Private Bank Europe S.A. acquired a new stake in shares of Ingersoll Rand during the 3rd quarter worth $28,000. Lazard Asset Management LLC increased its holdings 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 buying an additional 423 shares during the last quarter. Finally, Clearstead Advisors LLC increased its holdings 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 buying an additional 383 shares during the last quarter. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Wells Fargo & Company upped their price objective on Ingersoll Rand from $83.00 to $100.00 and gave the stock an "overweight" rating in a report on Tuesday, February 20th. StockNews.com upgraded Ingersoll Rand from a "hold" rating to a "buy" rating in a report on Sunday, April 7th. Citigroup upped their price objective on Ingersoll Rand from $105.00 to $112.00 and gave the stock a "buy" rating in a report on Monday, April 8th. Stifel Nicolaus restated a "buy" rating and set a $102.00 price objective on shares of Ingersoll Rand in a report on Tuesday, March 26th. Finally, Barclays upped their price objective on Ingersoll Rand from $101.00 to $105.00 and gave the stock an "overweight" rating in a report on Tuesday, April 2nd. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $92.73.

Ingersoll Rand Stock Down 0.7 %

NYSE:IR traded down $0.60 on Thursday, reaching $88.97. The stock had a trading volume of 1,175,494 shares, compared to its average volume of 2,453,083. The company has a current ratio of 2.22, a quick ratio of 1.67 and a debt-to-equity ratio of 0.27. The company has a 50-day moving average of $91.12 and a 200 day moving average of $78.43. The stock has a market cap of $35.89 billion, a P/E ratio of 47.64, a price-to-earnings-growth ratio of 3.17 and a beta of 1.44. Ingersoll Rand Inc. has a 12-month low of $53.24 and a 12-month high of $96.17.

Ingersoll Rand (NYSE:IR - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $1.82 billion during the quarter, compared to analysts' expectations of $1.76 billion. Ingersoll Rand had a net margin of 11.32% and a return on equity of 12.24%. On average, research analysts predict that Ingersoll Rand Inc. will post 3.1 earnings per share for the current year.

Ingersoll Rand Announces Dividend

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

Insider Buying and Selling at Ingersoll Rand

In other Ingersoll Rand news, insider Andrew R. Schiesl sold 10,421 shares of the company's 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 directly owns 48,904 shares of the company's stock, valued at approximately $4,398,914.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Vicente Reynal sold 240,000 shares of the company's stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $90.16, for a total value of $21,638,400.00. Following the sale, the insider now owns 91,957 shares in the company, valued at approximately $8,290,843.12. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Andrew R. Schiesl sold 10,421 shares of the company's stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $89.95, for a total transaction of $937,368.95. Following the completion of the sale, the insider now owns 48,904 shares in the company, valued at approximately $4,398,914.80. The disclosure for this sale can be found here. Insiders sold a total of 293,011 shares of company stock valued at $26,374,789 in the last ninety days. Insiders own 0.83% 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.