Vestmark Advisory Solutions Inc. Invests $262,000 in Ingersoll Rand Inc. (NYSE:IR)

Vestmark Advisory Solutions Inc. acquired a new stake in shares of Ingersoll Rand Inc. (NYSE:IR) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,595 shares of the industrial products company’s stock, valued at approximately $262,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC raised its stake in shares of Ingersoll Rand by 1.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 28,522 shares of the industrial products company’s stock worth $1,817,000 after purchasing an additional 448 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in Ingersoll Rand by 21.5% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 42,290 shares of the industrial products company’s stock valued at $2,695,000 after acquiring an additional 7,497 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Ingersoll Rand by 9.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 179,976 shares of the industrial products company’s stock worth $11,468,000 after acquiring an additional 16,237 shares in the last quarter. IFM Investors Pty Ltd raised its holdings in shares of Ingersoll Rand by 0.7% during the 3rd quarter. IFM Investors Pty Ltd now owns 82,387 shares of the industrial products company’s stock valued at $5,250,000 after purchasing an additional 550 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Ingersoll Rand by 19.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 82,809 shares of the industrial products company’s stock valued at $5,277,000 after purchasing an additional 13,481 shares during the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.

Insider Activity

In other news, insider Andrew R. Schiesl sold 10,421 shares of the business’s stock in a transaction on 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 approximately $4,398,914.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Andrew R. Schiesl sold 10,421 shares of Ingersoll Rand stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $89.95, for a total transaction of $937,368.95. Following the transaction, the insider now owns 48,904 shares in the company, valued at approximately $4,398,914.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Andrew R. Schiesl sold 35,000 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 16,525 shares in the company, valued at $1,478,326.50. 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. 0.83% of the stock is owned by insiders.

Analysts Set New Price Targets

IR has been the topic of a number of research analyst reports. Wells Fargo & Company lowered their target price on shares of Ingersoll Rand from $105.00 to $98.00 and set an “overweight” rating on the stock in a research note on Monday. 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 report on Wednesday, February 21st. StockNews.com downgraded shares of Ingersoll Rand from a “buy” rating to a “hold” rating in a research note on Saturday. Robert W. Baird raised their price target on shares of Ingersoll Rand from $107.00 to $109.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, BNP Paribas began coverage on Ingersoll Rand in a research report on Tuesday, March 12th. They set a “neutral” rating and a $92.00 target price on the stock. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $95.82.

Ingersoll Rand Stock Up 1.5 %

Shares of NYSE:IR opened at $89.85 on Wednesday. The company has a 50 day moving average of $91.90 and a 200-day moving average of $81.21. Ingersoll Rand Inc. has a one year low of $56.49 and a one year high of $96.17. The stock has a market cap of $36.26 billion, a price-to-earnings ratio of 44.70, a P/E/G ratio of 3.02 and a beta of 1.40. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.32 and a quick ratio of 1.71.

Ingersoll Rand (NYSE:IR) last released its earnings results on Thursday, February 15th. The industrial products company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. Ingersoll Rand had a net margin of 11.85% and a return on equity of 12.57%. The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.76 billion. On average, sell-side analysts forecast that Ingersoll Rand Inc. will post 3.1 earnings per share for the current year.

Ingersoll Rand announced that its Board of Directors has approved a share buyback program on Thursday, April 25th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to reacquire up to 2.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Ingersoll Rand Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 16th will be given a dividend of $0.02 per share. The ex-dividend date is Wednesday, May 15th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Ingersoll Rand’s payout ratio is currently 3.98%.

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.