PNC Financial Services Group Inc. Sells 4,903 Shares of Ingersoll Rand Inc. (NYSE:IR)

PNC Financial Services Group Inc. reduced its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 2.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 181,752 shares of the industrial products company’s stock after selling 4,903 shares during the period. PNC Financial Services Group Inc.’s holdings in Ingersoll Rand were worth $14,057,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale raised its stake in shares of Ingersoll Rand by 15.3% in the third quarter. DekaBank Deutsche Girozentrale now owns 183,024 shares of the industrial products company’s stock valued at $11,723,000 after buying an additional 24,251 shares during the period. Aviva PLC lifted its holdings in Ingersoll Rand by 710.1% during the third quarter. Aviva PLC now owns 125,211 shares of the industrial products company’s stock valued at $7,978,000 after purchasing an additional 109,755 shares during the last quarter. Johnson Investment Counsel Inc. boosted its position in Ingersoll Rand by 53.8% during the third quarter. Johnson Investment Counsel Inc. now owns 5,842 shares of the industrial products company’s stock worth $372,000 after purchasing an additional 2,044 shares during the period. Bank Julius Baer & Co. Ltd Zurich boosted its position in Ingersoll Rand by 60.7% during the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 11,036 shares of the industrial products company’s stock worth $703,000 after purchasing an additional 4,170 shares during the period. Finally, Kestra Advisory Services LLC raised its position in shares of Ingersoll Rand by 7.0% in the third quarter. Kestra Advisory Services LLC now owns 20,052 shares of the industrial products company’s stock valued at $1,278,000 after purchasing an additional 1,318 shares during the period. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IR has been the topic of a number of analyst reports. BNP Paribas initiated coverage on shares of Ingersoll Rand in a report on Tuesday, March 12th. They set a “neutral” rating and a $92.00 target price on the stock. Stifel Nicolaus restated a “buy” rating and issued a $102.00 target price on shares of Ingersoll Rand in a research note on Tuesday, March 26th. Wells Fargo & Company decreased their price target on Ingersoll Rand from $105.00 to $98.00 and set an “overweight” rating on the stock in a research report on Monday, May 6th. Barclays lowered their price target on shares of Ingersoll Rand from $105.00 to $104.00 and set an “overweight” rating on the stock in a report on Monday, May 6th. Finally, Evercore ISI cut shares of Ingersoll Rand from an “outperform” rating to an “in-line” rating and boosted their price objective for the company from $81.00 to $89.00 in a research note on Tuesday, February 20th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $95.82.

Ingersoll Rand Trading Up 2.0 %

IR opened at $93.28 on Tuesday. Ingersoll Rand Inc. has a one year low of $59.20 and a one year high of $96.67. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.32 and a quick ratio of 1.71. The business has a 50 day simple moving average of $91.82 and a two-hundred day simple moving average of $86.47. The firm has a market capitalization of $37.63 billion, a price-to-earnings ratio of 46.41, a PEG ratio of 2.96 and a beta of 1.43.

Ingersoll Rand (NYSE:IR) last announced its earnings results on Thursday, May 2nd. The industrial products company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.09. The company had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.70 billion. Ingersoll Rand had a return on equity of 12.57% and a net margin of 11.85%. Analysts predict that Ingersoll Rand Inc. will post 3.18 EPS for the current year.

Ingersoll Rand Announces Dividend

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

Ingersoll Rand announced that its Board of Directors has approved a stock buyback plan 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 purchase up to 2.7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Insider Activity at Ingersoll Rand

In other Ingersoll Rand news, insider Andrew R. Schiesl sold 22,369 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $92.17, for a total transaction of $2,061,750.73. Following the transaction, the insider now owns 30,846 shares in the company, valued at approximately $2,843,075.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Vicente Reynal sold 198,486 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $88.11, for a total transaction of $17,488,601.46. Following the sale, the insider now owns 100,367 shares of the company’s stock, valued at $8,843,336.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Andrew R. Schiesl sold 22,369 shares of Ingersoll Rand stock in a transaction on Friday, May 17th. The shares were sold at an average price of $92.17, for a total value of $2,061,750.73. Following the transaction, the insider now owns 30,846 shares of the company’s stock, valued at approximately $2,843,075.82. The disclosure for this sale can be found here. 0.68% of the stock is owned by corporate insiders.

Ingersoll Rand Company 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.