Ledyard National Bank Purchases New Stake in Ingersoll Rand Inc. (NYSE:IR)

Ledyard National Bank purchased a new stake in Ingersoll Rand Inc. (NYSE:IR) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 2,743 shares of the industrial products company’s stock, valued at approximately $212,000.

Several other hedge funds have also added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV raised its position in shares of Ingersoll Rand by 17.9% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,137 shares of the industrial products company’s stock worth $88,000 after purchasing an additional 173 shares during the period. Pinnacle Associates Ltd. raised its holdings in Ingersoll Rand by 4.7% in the 4th quarter. Pinnacle Associates Ltd. now owns 4,333 shares of the industrial products company’s stock valued at $335,000 after acquiring an additional 193 shares in the last quarter. Catalyst Financial Partners LLC raised its holdings in Ingersoll Rand by 3.3% in the 3rd quarter. Catalyst Financial Partners LLC now owns 6,021 shares of the industrial products company’s stock valued at $384,000 after acquiring an additional 194 shares in the last quarter. Parsons Capital Management Inc. RI raised its holdings in Ingersoll Rand by 3.2% in the 4th quarter. Parsons Capital Management Inc. RI now owns 6,399 shares of the industrial products company’s stock valued at $495,000 after acquiring an additional 200 shares in the last quarter. Finally, Huntington National Bank raised its holdings in shares of Ingersoll Rand by 7.1% during the 3rd quarter. Huntington National Bank now owns 3,269 shares of the industrial products company’s stock worth $208,000 after buying an additional 218 shares in the last quarter. Institutional investors own 95.27% of the company’s stock.

Insider Transactions at Ingersoll Rand

In related news, insider Andrew R. Schiesl sold 35,000 shares of Ingersoll Rand stock in a transaction on Monday, March 11th. The stock was sold at an average price of $89.46, for a total transaction of $3,131,100.00. Following the completion of the sale, the insider now owns 16,525 shares of the company’s stock, valued at $1,478,326.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Vicente Reynal sold 240,000 shares of Ingersoll Rand stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $90.16, for a total value of $21,638,400.00. Following the transaction, the insider now owns 91,957 shares in the company, valued at $8,290,843.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Andrew R. Schiesl sold 35,000 shares of the business’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 completion of the sale, the insider now directly owns 16,525 shares of the company’s stock, valued at approximately $1,478,326.50. The disclosure for this sale can be found here. Insiders sold 293,011 shares of company stock valued at $26,374,789 over the last three months. Company insiders own 0.83% of the company’s stock.

Ingersoll Rand Stock Performance

Shares of IR traded down $0.52 on Tuesday, reaching $92.87. 1,066,043 shares of the company’s stock traded hands, compared to its average volume of 2,442,137. 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 stock has a market cap of $37.47 billion, a PE ratio of 49.14, a PEG ratio of 3.26 and a beta of 1.44. The stock’s 50 day simple moving average is $91.78 and its two-hundred day simple moving average is $80.05. Ingersoll Rand Inc. has a 52-week low of $55.86 and a 52-week high of $96.17.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings data 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 return on equity of 12.24% and a net margin of 11.32%. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.76 billion. On average, analysts forecast that Ingersoll Rand Inc. will post 3.1 earnings per share for the current fiscal year.

Ingersoll Rand declared that its board has authorized a share repurchase program on Thursday, April 25th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the industrial products company to buy up to 2.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its shares are undervalued.

Ingersoll Rand Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 16th will be issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date is Wednesday, May 15th. Ingersoll Rand’s payout ratio is currently 4.21%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. BNP Paribas assumed coverage on Ingersoll Rand in a report on Tuesday, March 12th. They issued a “neutral” rating and a $92.00 target price for the company. Stifel Nicolaus reaffirmed a “buy” rating and issued a $102.00 target price on shares of Ingersoll Rand in a report on Tuesday, March 26th. UBS Group upped 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. Evercore ISI cut Ingersoll Rand from an “outperform” rating to an “in-line” rating and upped their target price for the stock from $81.00 to $89.00 in a report on Tuesday, February 20th. Finally, Barclays upped their target price on Ingersoll Rand from $101.00 to $105.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $92.73.

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.