Ingersoll Rand Inc. (NYSE:IR) Shares Sold by Sigma Planning Corp

Sigma Planning Corp lowered its holdings in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 68.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,656 shares of the industrial products company's stock after selling 8,050 shares during the quarter. Sigma Planning Corp's holdings in Ingersoll Rand were worth $283,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of IR. Asset Management One Co. Ltd. boosted its holdings in shares of Ingersoll Rand by 3.8% in the 4th quarter. Asset Management One Co. Ltd. now owns 163,162 shares of the industrial products company's stock valued at $12,691,000 after buying an additional 6,042 shares in the last quarter. Consilium Wealth Advisory LLC grew its position in Ingersoll Rand by 17.5% during the 4th quarter. Consilium Wealth Advisory LLC now owns 14,864 shares of the industrial products company's stock worth $1,150,000 after purchasing an additional 2,210 shares during the period. Natixis Advisors L.P. grew its holdings in Ingersoll Rand by 8.6% during the third quarter. Natixis Advisors L.P. now owns 136,629 shares of the industrial products company's stock worth $8,706,000 after acquiring an additional 10,840 shares during the period. Hsbc Holdings PLC grew its stake in shares of Ingersoll Rand by 2.3% during the 3rd quarter. Hsbc Holdings PLC now owns 568,633 shares of the industrial products company's stock worth $36,222,000 after purchasing an additional 13,036 shares during the period. Finally, Strategic Advisors LLC purchased a new position in shares of Ingersoll Rand during the 4th quarter valued at approximately $340,000. Hedge funds and other institutional investors own 95.27% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on IR shares. Barclays upped their price objective on shares of Ingersoll Rand from $101.00 to $105.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 2nd. Cfra increased their price objective on shares of Ingersoll Rand from $68.00 to $85.00 and gave the company a "hold" rating in a report on Friday, February 16th. Wells Fargo & Company boosted their target price on shares of Ingersoll Rand from $83.00 to $100.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 20th. Evercore ISI cut Ingersoll Rand from an "outperform" rating to an "in-line" rating and lifted their price objective for the stock from $81.00 to $89.00 in a report on Tuesday, February 20th. Finally, The Goldman Sachs Group raised their target price on Ingersoll Rand from $87.00 to $97.00 and gave the company a "buy" rating in a research report on Wednesday, February 21st. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $92.73.

Ingersoll Rand Trading Up 1.6 %

NYSE IR traded up $1.47 on Friday, reaching $93.50. 1,973,863 shares of the company were exchanged, compared to its average volume of 2,041,726. 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 business's fifty day moving average price is $91.70 and its 200 day moving average price is $79.86. The stock has a market capitalization of $37.72 billion, a P/E ratio of 49.21, a price-to-earnings-growth ratio of 3.26 and a beta of 1.44. Ingersoll Rand Inc. has a fifty-two week low of $54.54 and a fifty-two week high of $96.17.

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

Ingersoll Rand Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Thursday, May 16th will be paid a dividend of $0.02 per share. The ex-dividend date is Wednesday, May 15th. This represents a $0.08 annualized dividend and a yield of 0.09%. Ingersoll Rand's dividend payout ratio (DPR) is 4.21%.

Ingersoll Rand declared that its Board of Directors has approved a stock buyback plan on Thursday, April 25th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the industrial products company to reacquire up to 2.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at Ingersoll Rand

In other Ingersoll Rand news, insider Andrew R. Schiesl sold 35,000 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $89.46, for a total transaction of $3,131,100.00. Following the completion of the transaction, the insider now owns 16,525 shares of the company's stock, valued at $1,478,326.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Vicente Reynal sold 240,000 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $90.16, for a total transaction of $21,638,400.00. Following the transaction, the insider now owns 91,957 shares of the company's stock, valued at approximately $8,290,843.12. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Andrew R. Schiesl sold 35,000 shares of the firm's stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $89.46, for a total value of $3,131,100.00. Following the transaction, the insider now owns 16,525 shares of the company's stock, valued at $1,478,326.50. The disclosure for this sale can be found here. Insiders have sold 293,011 shares of company stock worth $26,374,789 over the last quarter. 0.83% of the stock is currently owned by company 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.